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April Is National Financial Literacy Month

By Ayo Mseka

Costs continue to rise for those requiring long-term care in the U.S, according to the 2011 MetLife Market Survey of Nursing Home, Assisted Living, Adult Day Services, and Home Care Costs, conducted by the MetLife Mature Market Institute.

National average rates for a private nursing home room increased 4.4 percent to $239 daily or $87,235 annually, in 2011. Assisted living base rates rose by 5.6 percent to $3,477 monthly or $41,724 annually. Adult day services went up by 4.5 percent to $70 per day. Home health aides and homemaker/companion service rates were unchanged at $21 and $19 per hour, respectively.

The highest average daily rates for nursing homes continue to be in Alaska, where rates decreased slightly to $655 for a private room, compared to $687 in 2010. Costs were the lowest in Louisiana, outside the Baton Rouge and Shreveport Metropolitan Statistical Areas (MSA), at an average of $141 per day for a private room.

For assisted living, the Washington, D.C. area had the highest average monthly base rate at $5,757, a 10 percent increase from last year. Arkansas, outside the Little Rock MSA, had the lowest average monthly rate of $2,156, also an increase.

The survey and accompanying report provide additional information regarding various types of LTC in the U.S. and a detailed breakdown of costs by region.

Nursing Homes:

• According to the U.S. Census Bureau, in 2010, 66 percent of nursing home residents were women. The median age of residents was 82.7 years.

• Fifteen percent of nursing homes surveyed have an associated assisted living unit or wing; 11 percent are part of a continuing care retirement community (CCRC).

Assisted Living:

• Current estimates from the American Seniors Housing Association indicate that the average age of an assisted living resident is 86.9 years old, and the median length of stay in assisted living is 25.6 months.

Home Health Care:

The average daily live-in rate for a home health aide is $258 and $255 for a homemaker/companion.


To order the survey, contact the MetLife Mature Market Institute Website by writing to MetLife Mature Market Institute, 57 Greens Farms Road, Westport, CT 06880, or by emailing MatureMarketInstitute@metlife.com.

The survey of 2,003 nursing homes, 1,492 assisted living communities, 1,644 home care agencies and 1,341 adult day services, in all 50 states and the District of Columbia, was conducted by telephone between April and August 2011, by LifePlans, Inc., for the MetLife Mature Market Institute.




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