A recently released research study by Northwestern Mutual revealed stark differences in cost for home health care, assisted living facilities and nursing homes across the U.S. that show some Americans are spending nearly seven times more for certain long-term care services than others. The survey of 7,000 home health care providers, assisted living facilities and nursing homes revealed stark differences in cost for long-term care services based on geographic location. The most significant difference between locations was the hourly wage of Home Health Aides (HHAs), causing consumers in the most expensive markets to spend nearly seven times more than those in the least expensive markets.
In October and November 2008, the Long Term Care Group, Inc. conducted customized Cost of Care research on behalf of Northwestern Long Term Care Insurance Company, a Northwestern Mutual company,that showed that residents of Lafayette, Louisiana are spending an average of $118 a day for a private nursing home room, while residents of New York City are spending five times that amount, at an average of $590 a day. The national average was $210 a day in the markets surveyed. Similarly, the costs of a private room in an assisted living facility vary widely by region. A room in El Paso, Texas, will cost on average $2,043 per month on average, versus more than twice that in Bridgeport/Stratford, Connecticut, at$4,896 per month.
To view the full survey report, visit www.northwesterncostofltc.com.
