Not surprisingly, costs in facility-based providers has steadily increased while home care has remained flat.
In 2007 the median annual rate for a private nursing home room was $65,700, compared with the 2012 median annual rate of $81,030. The national hourly private pay median rate charged by a licensed home health agency for a home health aide was $18 in 2007. The 2012 hourly rate crept up to $19. Home care rates have remained flat in part because of increased competition among agencies and the availability of unskilled labor, and because the companies that provide these types of services do not incur the costs associated with maintaining stand-alone health care facilities.
Here is how it broke down further.
No secret why we continue to publish data like this. Our platform is educated aging - physical, financial, emotional. Count this in the financial column and heed the message of saving for your anticipated long term care needs so that you are not blind-sided in a crisis should something happen to you.