Assisted Living Costs of Care - 2014 Genworth Survey Data

iSeniorSolutions.com ASSISTED LIVING COSTS OF CARE 2014 SURVEY Costs of Care for Seniors is an important topic now days with the aging of the baby boomer generation. Knowing the facts and statistics can help you plan properly for retirement. Genworth Cost of Care Survey 2014 has compiled data Care Assisted Living Facilities and Nursing Homes. Below is data related to Assisted Living Costs of Care from the Survey. from around the United States from Ho riders to Adult Day Health Care Facilities, Least Expenive States Georgía/Missouri Most Expensive States Alaska/Delaware NATIONAL MEDIAN MONTHLY RATE INCREASE OVER 2013 FIVE-YEAR ANNUAL GROWTH* 2014 IN REVIEW $3,500 | 1.45% 4.29% TOP 10 Most Expensive States TOP 10 Least Expensive States STATE MEDIAN RATE RANGE STATE MEDIAN RATE RANGE Alaska Delware New Jersey Connecticut Massachusetts Maine Rhode Island Hawaii $5,500 $5,500 $5,430 $5,289 $5,247 $4,950 Georgia Missouri Arkansas South Carolina Alabama Mississippi North Carolina Florida Utah Oklahoma $2,500 $2,500 $2,850 $2,874 $2,894 $2,900 $2,940 $3,000 $3,061 $3,082 New Hampshire Washington $4,750 $4,373 $4,250 ASSISTED LIVING DEFINED BY GENWORTH Assisted Living Facility (ALF) These facilities are living arrangements that provide personal care and health services for people who may need assistance with Activities of Daily Living (ADLS). The level of care provided is not as extensive as that which may be provided in a nursing home. Assisted living is not an alternative to a nursing home, but an intermediate level of long term care. Median Annual Rate Changes: 2006-2014 50000 40000 30000 20000 10000 2006 2007 2008 2009 2010 2011 2012 2013 2014 Costs Median Annual Rate Then & Now 2006 2014 $32,294 $42,000 $9702 Increase "One-Time, Non-Refundable Fee" Approximately 43% Of all Surveyed Assisted Living Participants said they charge a 'one- time, non-refundable fee'. S Infographic Created By: iSeniorSolutions.com SHARE Founded in 2012, iSeniorSolutions.com provides seniors and their families with the best experience possible when searching for Senior Living, Health Care or Funeral needs. With over a decade's experience in the senior living and health care industries, the founders and operators of iSeniorSolutions.com understand the ever growing demand for help. iSeniorSolutions.com provides you with free, easy access information, tools and resources most benefícial to today's senior and their families. Call contact us today at 866-838-8312. Sources: https://www.genworth.com/dam/Americas/US/PDFS/Consumer/corporate/130568_032514_CostofCare_FINAL_nonsecure.pdf https://www.genworth.com/dam/Americas/US/PDFS/Consumer/corporate/130568_032213_Cost%20of%20Care_Final_nonsecure.pdf https://www.genworth.com/dam/Americas/US/PDFS/Consumer/corporate/coc_12.pdf https://www.genworth.com/dam/Americas/US OFs/Consumer/corporate/coc_11.pdf https://www.genworth.com/dam/Americas/US/PDFS/Consumer/corporate/coc_ 10.pdf https://www.genworth.com/dam/Americas/US/PDFS/Consumer/corporate/coc_09.pdf https://www.genworth.com/dam/Americas/US/PDFS/Consumer/corporate/coc_08.pdf https://www.genworth.com/dam/Americas/US/PDFS/Consumer/corporate/coc_07.pdf https://www.genworth.com/dam/Americas/US/PDFS/Consumer/corporate/coc_06.pdf * Median Annual Rates are calculated based on the following: Assisted Living Facility - monthly rate multiplied by 12 months Data is rounded to the nearest percentage point.