Highest Cost States for Private Nursing Home Room Reported by Long-Term Care Insurance Association
The 10 states reporting the highest cost for a private nursing home room were reported by the American Association for Long-Term Care Insurance. Jesse Slome, AALTCI director, noted most consumers benefit from some insurance coverage for home care and to share some of cost risk.
Los Angeles, CA, February 02, 2019 --(PR.com)-- A one-year stay in an Alaska nursing home can cost over $330,000 according to data shared today by the American Association for Long-Term Care Insurance (AALTCI).
"Nursing home care in 2019 remains the most costly kind of long-term care for many and in many states the cost can easily exceed $100,000 a year," explains Jesse Slome, director of AALTCI, the national long-term care insurance association. "While most long-term care is received in a person's home, it's still that nursing home stay that worries many aging Americans who have witnessed the impact a stay has on their family members or friends."
The Association director shared the current state of the market for 10 U.S. states with highest annual median cost for a private room in a nursing home facility.
Alaska - $330,873
Connecticut - $164,798
Hawaii - $163,885
Massachusetts - $153,300
New York - $146,274
New Jersey - $142,350
North Dakota - $140,277
New Hampshire - $133,225
Delaware - $131,400
Minnesota - $122,260
"There are several very important take facts to keep in mind," Slome advised. "First, most people want and receive long-term care services in their own home and for many, stays in nursing homes are not that long nor that expensive," Slome said the Association shared the data because information like this is certainly relevant but warned insurance agents against using it to scare consumers.
The Association director reaffirmed his belief that most consumers will benefit from a limited amount of long-term care insurance coverage. "Some coverage is always better than none and will be far more affordable for the consumer," Slome advocated. "Many seniors use insurance to pay a portion of costs or to obtain better options or quality of care and that's definitely a prudent strategy."
The American Association for Long-Term Care Insurance advocates for the importance of long-term care planning and helps consumers connect with knowledgeable professionals who are independent advisors. Data for the survey was compiled from various sources including the Genworth annual cost of care study.
Consumers looking for local long-term care insurance cost comparisons should visit the Association's website at www.aaltci.org or can call the organization's national headquarters at 818-597-3227.
"Nursing home care in 2019 remains the most costly kind of long-term care for many and in many states the cost can easily exceed $100,000 a year," explains Jesse Slome, director of AALTCI, the national long-term care insurance association. "While most long-term care is received in a person's home, it's still that nursing home stay that worries many aging Americans who have witnessed the impact a stay has on their family members or friends."
The Association director shared the current state of the market for 10 U.S. states with highest annual median cost for a private room in a nursing home facility.
Alaska - $330,873
Connecticut - $164,798
Hawaii - $163,885
Massachusetts - $153,300
New York - $146,274
New Jersey - $142,350
North Dakota - $140,277
New Hampshire - $133,225
Delaware - $131,400
Minnesota - $122,260
"There are several very important take facts to keep in mind," Slome advised. "First, most people want and receive long-term care services in their own home and for many, stays in nursing homes are not that long nor that expensive," Slome said the Association shared the data because information like this is certainly relevant but warned insurance agents against using it to scare consumers.
The Association director reaffirmed his belief that most consumers will benefit from a limited amount of long-term care insurance coverage. "Some coverage is always better than none and will be far more affordable for the consumer," Slome advocated. "Many seniors use insurance to pay a portion of costs or to obtain better options or quality of care and that's definitely a prudent strategy."
The American Association for Long-Term Care Insurance advocates for the importance of long-term care planning and helps consumers connect with knowledgeable professionals who are independent advisors. Data for the survey was compiled from various sources including the Genworth annual cost of care study.
Consumers looking for local long-term care insurance cost comparisons should visit the Association's website at www.aaltci.org or can call the organization's national headquarters at 818-597-3227.
Contact
American Association for Long-Term Care Insurance
Jesse Slome
818-597-3205
www.aaltci.org
Jesse Slome
818-597-3205
www.aaltci.org
Contact
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