State’s Costs for Long-Term Care Exceed U.S. Average
The medianÂ annual cost of long-term care in an assisted living facility is $42,000 in California, compared with a national median cost of $39,135, according to a study from Genworth Financial, a provider of long-term care insurance. The study found that the annual cost of a private nursing home room is $91,250 in California, compared with $77,745 nationally. However, the study also found that the annual cost of long-term care in California is accelerating at a slower pace compared with national rates.
- "California's Cost of Home Care Higher Than National Average" (Robertson, Sacramento Business Journal, 5/10).
- "Cost of Long-Term Care Rises in Institutions, Stays Flat at Home" (Moeller, "The Best Life," U.S. News & World Report, 5/10).