Cost Of Nursing Home Now Near $90K A Year

The median cost of a private nursing home in the United States rose 4.4 percent this year, bringing the average yearly cost to $87,600.

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(Photo credit: Susan NYC)

This information comes from a cost of care survey conducted yearly by the insurer Genworth. It was reported in a story on jdsupra.com.

The median cost of a semi-private room was $77,300, an increase of 2.6 percent over 2013.

Assisted living facilities saw smaller increases, with the median rate jumping 1.3 percent, to $3,500.

The median rate for a home health aide was $20 per hour, a jump of 1.6 percent.

The rates vary from state to state. Alaska was the most expensive place for nursing   home care – $240,000 a year. Oklahoma was the least costly — $57,488 a year.

Another study by another insurer found the annual cost of a private nursing home in New York was $95,706.

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