Genworth Financial, an insurance and financial planning company, recently released its annual 2017 Cost of Care Survey, which uses survey results to inform long term care planning. Noteworthy data includes:
- Home health aide services had the most pronounced increase in costs compared to other settings with a national median cost of $21.50 per hour or $4,099 per month.
- The cost of homemaker or home care services, including household tasks such as cooking and cleaning, reached a median of $21 per hour, or $3,994 per month, a 4.75% increase from last year.
- The national median daily rate for adult day health care was $70.
- The national median monthly cost of a semi-private room for nursing home care was $8121. South Dakota’s median monthly cost is $6813.
A state-by-state comparison on monthly expenses can be found here.