Beginning in 2002, the MetLife Mature Market Institute began publishing a yearly report that details the cost of caring for the nation’s aging population. The report gives an in depth look at the costs of nursing homes, assisted living communities, and beginning in 2007 home care services. In the next few blog posts, we’ll take a closer look at Ohio’s cost of care, and what exactly is included in the pricing you will typically find for elder care throughout the state.
First, let us take a look at the national averages, and what has happened in elder care costs from 2010 to 201.
Nursing home private-pay rates for long-term (custodial) care increased by 4.4% for both private and semi-private rooms. Private room daily costs rose from $229 to $239, or from $83,585 to $87,235 yearly. Semi-private room daily cost rose from $205 to $214, yearly from $74,825 to $78,110.
Assisted living communities also saw an increase in cost, with national monthly averages rising 5.6%. In 2010, the national average was $3,293 per month, or $39,516 per year. In 2011, these rates rose to $3,477 and $41,724 respectively.
Private pay-rates for home care were the only category that did not see an increase. For 2010 and 2011, the hourly rates for home health aids was $21.00, while the hourly rate for companion services was $19.00.
Adult day care services saw a rise in both popularity, as many families choose to keep their loved ones at home, and in cost. Private-pay rates rose by 4.5%. In 2010, the cost per day was $67, and in 2011 it rose to $70 per day.
