Share

Philadelphia PA Estate Planning Blog

Monday, October 31, 2011

Nursing Home Costs - Rising Fast?

MetLife recently released their Market Survey of Long-Term Care Costs for 2011, and the statistics do not bode well for seniors and those that need long-term care. 

A few statistics from the report that you should know about:

  • The average cost of a nursing home (private room) across the USA increased 4.4%, from $229 per day to $239 per day.
     
  • On average across the country, a semi-private room costs $78,110 per year, and a private room costs $87,235 per year.
     
  • In Philadelphia, the average costs are higher. The average private room costs $285 per day, with the high being $325 per day. At the average, the cost per year is $104,025 and at the high, the cost per year is $118,625. Ouch.
     
  • Assisted Living Facilities: On average, they cost $3,477 per month, an increase of $184 or 5.6% from 2010. 
     
  • Home Health Care: Average hourly rate is $21, and the daily rate for Adult Day Services is $70.

We continue to point out to our clients that long-term care costs are rising, probably faster than inflation. If you have concerns about long-term care costs, you should speak with an elder law attorney who can help your family plan craft a plan for preserving part of your estate in case long-term care is needed. Elder law professionals have a variety of tools available, such as long-term care insurance, trusts, sophisticated gifting strategies, and more.

 


Archived Posts

2018
2017
2016
2015
2014
2013
2012
2011
December
November
October
September
August
July
June
May
April
March
February
January
2010
December
November
October
September
August
July
June
May
April
March
February
January
2009


The Law Offices of Jeremy A. Wechsler assist clients with Estate Planning matters in Willow Grove, PA as well as Abington, Hatboro, Dresher, Horsham, Bryn Athyn, Huntingdon Valley, Fort Washington, Jenkintown, Glenside, Oreland, Warminister, Wyncote, Ambler, Elkins Park, Flourtown, Philadelphia, Warrington, Cheltenham, Gwynedd Valley, Jamison, Feasterville Trevose, Richboro, North Wales, Blue Bell, Lafayette Hill, King of Prussia, Collegeville, Oaks, Phoenixville, Oxford Valley, Langhorne, Penndel, Bristol, Fairless Hills, Bensalem, Plymouth Meeting, Furlong, Philadelphia County, Bucks County and Montgomery County.

© The Law Offices of Jeremy A. Wechsler | Disclaimer | Law Firm Website Design by Zola Creative



© 2019 The Law Offices of Jeremy A. Wechsler | Disclaimer
2300 Computer Avenue, Suite J-54, Willow Grove, PA 19090
| Phone: 215-706-0200

Wills and Trusts | Probate / Estate Administration | Elder Law / Long Term Care | Powers of Attorney | Life Insurance / Long-Term Care Insurance | Special Needs Planning | Same Sex Couple Planning | Asset Protection | Estate Planning For Pets | Retirement Planning | Retirement Account Trusts | About Us | Resources

Attorney Website Design by
Amicus Creative