Genworth Study: Long-Term Care Costs on the Rise

According to the annual survey from Genworth Financial, the cost of Assisted Living and Adult Day Care both rose by 12 percent this year compared to 2009.  This article from The Associated Press - Bloomberg Businessweek.

The median daily rate for nursing care in both private and semiprivate rooms increased by more than 5 percent. The cost of services that let patients stay in their homes rose 3 percent or less, the Richmond, Va., long-term care insurance provider said.

The median cost of a private nursing home — the most expensive long-term care — rose to $206 per day this year, compared with $203 in 2009.

That adds up to a national median of $75,190 per year but the cost varies tremendously depending by state: Private rooms in Louisiana cost about $51,056 a year, for instance, but more than $200,000 in Alaska.

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