Genworth Financial recently released its 2015 Cost of Care Survey, a report released annually since 2004. Over the past 12 years, Genworth has uncovered several trends in the long term care services landscape. As would be expected, the cost of all types of long term care has steadily risen over the years based on their research. However, the cost of care provided for people living in their homes has risen less than care provided in facilities. The gradual increase in cost for community-based care is good news for many consumers.
According to the 2015 report, the national median daily rate for adult day health is $69, up 5.94% over the 2014 report. Genworth began including adult day health centers in their study in 2008 when the median daily rate was $59 per day. The 2015 report included responses from nearly 1,200 adult day centers via telephone surveys during January and February 2015. Since adult day centers structure rates in a variety of ways, all rates in the Genworth survey were extrapolated to a daily (6-8 hour) rate.
Full results of Genworth’s 2015 Cost of Care Survey, including national and state data tables for care in all 50 states and other useful tools and information is available online at https://www.genworth.com/corporate/about-genworth/industry-expertise/life.html.