2015 Cost of Care Survey Released
The March, 2015 Genworth Financial cost of care survey was released just last week. This marks the thirteenth consecutive year that care costs have been tracked. Completed surveys were received from: 3,700 home care providers, 1,200 adult day care centers, 6,300 assisted living facilities, and 3,800 nursing homes accross the country.
The median cost of a Metro-Denver nursing home is now more than $100,000 per year. The good news is that same amount will buy you 12 hours per day, 7 days per week of professional home care...all year long! More home care than most people need. Click Here to see local costs of care in each of the 50 states for home care, adult day care, assisted living facilities and nursing homes. You may be surprised to learn how expensive care itself (not insurance) has become.
While you are on the survey home page, you may want to look at the "Genworth R70 Age Simulation Suit" at the lower right corner. I think you will find it interesting. The special suit allows younger people to temporarily experience some of the physical limitations that are headed their way
From March 22-25 I, along with 1,100 others, participated in this year's conference. This time it was held in Colorado Springs, CO (nice to not have to ride an airplane to get to there). It was a great time for both sharing ideas with industry friends and to hear a number of really good presentations. Perhaps the most exciting news was of a new long term care insurance company that expects to have its policy available by the end of this year (regulatory approvals take forever). Stay tuned.