Hancock Tower by wallyg via Flickr

John Hancock Financial (John Hancock) recently announced the results of its 2011 cost of care study, which found that long-term care (LTC) costs have continued to increase.  The study surveyed more than 11,000 providers, including nursing homes, assisted living facilities, and home health care agencies, in key cities across the country.

Findings:

• Annual cost of care in the U.S. is $85,775 for a private room in a nursing home
• Annual cost of care in the U.S. is $75,555 for a semi-private room in a nursing home
• Annual cost of care in the U.S. is $39,240 for an assisted living facility
• The average cost of care received at home is approximately $20 per hour.
• The 2011 average cost of a private nursing home room ($235 a day/ $85,775 annually) has risen an average 3.5 percent per year.
• The 2011 average cost of a semi-private nursing home room ($207 a day/ $75,555 annually) has risen an average 3.2 percent per year.
• The 2011 average cost for a month in an assisted living facility ($3,270 a month/ $39,240 annually) has risen an average 3.4 percent per year.
• The 2011 average cost for a home health aide ($20 hourly/$37,440 annually) has risen an average 1.3 percent per year.

Here is another clear and unbiased video summary from Anthony Cirillo at Anthony’s Song.