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What Does Long-Term Care Cost?

In 2030, when the youngest boomers turn 65, nursing homes will run $190,600 a year, reports the American Council of Life Insurers, up from $55,000 today.

Source:  Money.Com, April 14, 2001


The incidence of home health care is about 10 times greater than nursing home care for those under 65. The cost of home care services can vary from $12.50 per hour for personal care to over $120 an hour for licensed skill care (1997 rates). At skilled care rates, home care costs can greatly exceed the cost of institutional care.

Source:  Long-term Care Trends and Demographics: Implications for Financial Planning, Journal Of Financial Service Professionals, September 2000


The average cost of a year in an assisted living facility increased to $28,548, up 10% from 2002.

Source:  “Cost Of Assisted Living Increases 10%”, National Underwriter Online News Service, October 13, 2003.
(Source: MetLife Inc., New York)


Adult day care centers, popular with elderly people cohabitating with a family caregiver, can cost $70 a day.

Source:  “Expect the worst - Long-term health insurance prepares families for the adversities of aging”, Los Angeles Daily News, September 20, 2003.
 

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What does Long-Term Care cost?
• State by State Cost Comparison Chart



 Next Section: Who Pays For Long-Term Care Costs?

The average nursing home cost in the United States is $181 per day for a private room. The nationwide average jumped 8% since April of last year, from $168 per day.

The average nursing home stay is 2.4 years. The projected cost in 2003 is $66,153 per year, or $158,766 for the average stay.

Here are the average daily nursing home costs per market for a private room: 

Statewide Alaska, AK  
Birmingham, AL        
Montgomery, AL        
Little Rock, AR       
Phoenix, AZ           
Tucson, AZ            
Los Angeles, CA       
San Diego, CA         
San Francisco, CA     
Colorado Springs, CO  
Denver, CO            
Hartford, CT          
Stamford, CT          
Washington, DC        
Wilmington, DE        
Jacksonville, FL      
Miami, FL             
Orlando, FL           
Alpharetta, GA        
Atlanta, GA           
Honolulu, HI          
Des Moines, IA        
Boise, ID             
Chicago, IL           
Highland Park, IL     
Peoria, IL            
Fort Wayne, IN        
Indianapolis, IN      
Wichita, KS           
Lexington, KY         
Louisville, KY        
New Orleans, LA       
Shreveport, LA        
Boston, MA
Worcester, MA         
Baltimore, MD         
Silver Spring, MD     
Brunswick, ME         
Detroit, MI           
Grand Rapids, MI      
Minneapolis, MN       
Saint Paul, MN        
Kansas City, MO
St. Louis, MO

$419.80
$123.36
$139.34
$117.00
$173.60
$188.61
$162.27
$194.46
$311.96
$151.80
$151.80
$273.13
$331.44
$230.60
$184.54
$150.60
$194.00
$152.80
$138.07
$155.83
$215.16
$224.80
$160.00
$171.53
$186.07
$166.60
$168.20
$164.75
$127.43
$156.20
$141.84
$128.65
$ 95.56
$232.10
$263.00
$183.11
$176.40
$211.60
$136.97
$160.80
$184.58
$203.04
$120.83
$133.21

Jackson, MS           
Billings, MT          
Charlotte, NC         
Raleigh, NC           
Fargo, ND             
Omaha, NE             
Manchester, NH        
Bridgewater, NJ       
Cherry Hill, NJ       
Albuquerque, NM       
Las Vegas, NV         
New York, NY          
Rochester, NY         
Syracuse, NY          
Akron, OH             
Cleveland, OH         
Columbus, OH          
Oklahoma City, OK     
Tulsa, OK             
Eugene, OR            
Portland, OR          
Philadelphia, PA      
Pittsburgh, PA        
Scranton, PA          
Providence, RI        
Charleston, SC        
Columbia, SC          
Dell Rapids, SD       
Memphis, TN           
Nashville, TN         
Dallas, TX            
Fort Worth, TX        
Houston, TX           
Salt Lake City, UT    
Arlington, VA         
Richmond, VA          
Rutland, VT           
Seattle, WA           
Spokane, WA           
Madison, WI           
Milwaukee, WI         
Martinsburg, WV       
Worland, WY           

AVERAGE             

$124.01
$144.00
$160.95
$149.40
$187.43
$205.00
$207.20
$222.00
$248.94
$189.15
$158.70
$345.50
$234.82
$230.19
$176.20
$184.01
$182.64
$137.00
$146.00
$198.00
$159.50
$204.75
$188.90
$165.60
$204.00
$135.50
$147.13
$127.60
$158.50
$182.10
$146.69
$149.80
$139.83
$137.60
$219.86
$176.60
$197.89
$185.00
$174.80
$184.00
$188.00
$164.00
$141.94

$181.24


“Nursing Home Costs Average $181 Per Day in U.S.; 2003 MetLife Market Survey Reports Costs Vary Widely from Region to Region”, Business Wire, August 05, 2003. (Source: 2003 MetLife Market Survey)


Next: Who Pays for Long-Term Care Costs?

 

 

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