Nursing Home, Assisted Living, Home Health Care Costs 2010

Nursing Home, Assisted Living, Home Health Care Costs 2010

No surprise, but nursing home and assisted living costs are on the rise. MetLife has produced and published its annual "2010 Market Survey of Long-Term Care Costs". This is a great source to do a check of what is a good, reasonable, or high rate for care in your area (they have national and state-by-state analysis of the costs of nursing home, assisted living, and home health care, a break-down of costs by metropolitan areas within a state, and even an adult day care survey).

What are the costs of care in a nursing home versus assisted living versus home health care (certified aide or companion) in New Jersey? 

Nursing Home - Daily Cost of Care
Daily Cost of Care Low High Average
Private Room $156 $525 $307
Semi-Private Room $131 $331 $277

Which translates to an average of:

  • $9,030 per month for a private room or $108,360 per year
  • $8,310 per month for a semi-private room or $99,720 per year   
Assisted Living - Monthly Cost of Care in NJ
Monthly Cost of Care Low High  Average
Assisted Living Facility $2,000 $6,650 $4,286

Which translates to an average of $51,432 a year.  

Home Health Care - Hourly Cost of Care
Hourly Rate Low High Average
Home Health Aide $17 $30 $21
Companion (Not certified) $16 $26 $20

 Which translates to an average of: 

  • $1,008 per month for 4 hours/3 days per week, or $12,096 per year
  • $3,360 per month for 8 hours/5 days per week, or $40,320 per year
  • $14,122 per month for 24/7 care, or $169,344 per year 

The study has lots of other great information about costs of care.  Some of these are summarized at caregiving.com in their article  "Costs of Long-Term Care Continue to Rise".  :

Private room nursing home rates rose 4.6% to $229 per day or $83,585 per year, while assisted living rose 5.2% on average to $3,293 per month, or $39,516 per year. These increases come on top of increases from 2008 to 2009 when both nursing home and assisted living costs were up 3.3%.

Costs for home health aides and adult day services were unchanged in the past year. Home health aide costs remain at an average price of $21 per hour, while adult day services costs are still $67 per day.

The highest average daily rates for nursing homes continued to be in Alaska, where rates are now $687 for a private room and $610 for a semi-private room. Costs are lowest in Louisiana, outside the Baton Rouge and Shreveport Metropolitan Statistical Areas (MSA), at an average of $138 per day for a private room.

For assisted living, the Washington, D.C., area had the highest average monthly base rate at $5,231, while Arkansas, outside of the Little Rock MSA, had the lowest average monthly rate of $2,073. 

Alaska is making New Jersey look good - a nursing home here is only $108,360 compared to $247,320.  I am guessing the number one piece of advise from elder care attorneys in Alaska is "move to the lower 48".

_________

Deirdre R. Wheatley-Liss is a shareholder of the Law Firm of Fein, Such, Kahn & Shepard, P.C., with offices in Parsippany and Toms River, New Jersey. She concentrates her practice in the areas of Elder Law, Estate Planning and Administration, Business Planning and Tax Law. Deirdre's individual clients range from their 20's to their 80's and beyond, while her business clients range from start-ups with exciting new ideas to 100+ year old business ventures. Clients seek Deirdre's advice and assistance with a variety of planning issues relating to identifying and meeting their personal, family and business goals, whether in a planning or crises situation.

Comments

Anonymous
Anonymous
  • 04-22-2011

I really enjoyed your blog post, i always got good, relevant and useful information from your new and unique posts, i m sure your blog will keep us continues update. Thanks for providing us such useful information. Elder Housing Boston