Assisted living care is most expensive on the East Coast and in Washington, D.C. in particular, according to newly released data that confirms prior findings.
The average one-bedroom monthly rate for assisted living is $8,127 in the nation’s capital, according to the 2014 Cost of Care Study recently released by LTCG, a firm that helps insurers manage long-term care portfolios. This translates to about $97,500 a year.
Washington, D.C. also grabbed the No. 1 spot on Genworth’s 2014 Cost of Care Survey, with an annual median cost of roughly $82,600 for a single-occupancy unit. The Genworth findings were released in April.
East Coast states, along with Alaska and Hawaii, dominated both the LTCG and Genworth lists for most-expensive care.
LTCG 10 Most Expensive States for Assisted Living Facility Care
- Washington, D.C.—$8,127
- New Jersey—$6,196
- New York—$5,322
The U.S. average cost of assisted living care is $4,245 a month for a one-bedroom unit, LTCG found. Genworth’s 2014 survey put the median price for a single-occupancy unit at $3,500. That number was about the same, roughly $3,400, in a survey released by John Hancock Life Insurance Company in 2013.
LTCG did not disclose the least expensive states for assisted living care an overview of its report emailed to Senior Housing News. The full report is available for sale. Georgia and Missouri ranked as least expensive in Genworth’s results.
The LTCG findings were drawn from a representative sample of providers in the LTCG Provider Network, which includes about 12,500 assisted living facilities, according to the company.
Written by Tim Mullaney