Calculating The Cost Of Care

Genworth Financial map

by Kim Keller

Here’s a fabulous resource: The Genworth Cost of Care Survey, which provides the costs for various home care providers, adult day health care centers, assisted-living facilities and nursing homes.  The survey notes the lowest, highest and median costs of these services by state (including the District of Columbia), as well as the median annual costs of care by city.

Here are the national median costs for:

Homemaker (Personal Care Assistant or Companion): $18/hour

  • For someone who lives at home and needs additional household help, such as housecleaning, cooking, running errands, companionship
  • No personal or medical care provided
  • Price is based on a non-Medicare, licensed agency
  • Most agencies require a 4-hour minimum
  • Genworth notes that the lowest hourly rate is $9 and the highest is $34

 

Home Health Aide: $19/hour

  • For someone who lives at home and needs personal care, such as bathing, dressing, eating, transferring
  • Some aides will do light housecleaning and cooking, but the focus is on personal care and not on caring for the home
  • No medical care provided
  • Price is based on a non-Medicare, licensed agency
  • Most agencies require a 4-hour minimum
  • The lowest hourly rate is $10 and the highest is $34

 

Adult Day Health Care: $60/day

  • Community-based center programs
  • For those who need assistance and supervision during the day
  • Activities are usually offered
  • Program offerings vary widely — some offer meals, transportation, physical therapy, medical treatments
  • A great way for caregivers to get a break
  • Not for someone who needs 24-hour care
  • The lowest daily rate is $15 and the highest is $160

 

Assisted-Living Facility: $3,261/month

  • One bedroom, single occupancy
  • For those who cannot safely live alone but do not require constant care
  • Meals and housekeeping provided
  • Basic personal care provided
  • Limited nursing care offered
  • The lowest monthly rate is $674 and the highest is $9,500

 

Nursing Home: $193 to $213/day

  • Price varies depending on private or semi-private room
  • 24-hour skilled nursing care provided
  • The lowest daily rate is $85 and the highest is $826

 

If you’re looking for care services, this is an invaluable resource for understanding the range of costs in your area.  Genworth notes that it’s possible to negotiate costs in many situations, and the survey provides you with the information you’ll need to be effective.

The survey also allows you to compare the costs of care in up to three different locations.  This is a handy feature if you’re considering a move to save on costs.  The survey also projects costs 10 to 30 years into the future, which is great tool for early planning of retirement or long-term care.

 



One Response to “Calculating The Cost Of Care”

  1. Studying to be a nurse is the greatest things I ever did for myself.

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