Cincinnati long-term care costs outpace nation…

The cost for long-term care continues to climb in Cincinnati.

A survey of long-term care providers nationwide showed the median cost for homemaker services, home health aid services, and nursing home rates in Cincinnati are higher than in Ohio and the nation.

In the Cincinnati region, the annual nursing home rate is $92,163, according to Genworth’s 2012 Cost of Care Survey, which covers 15,300 long-term care providers in nearly 440 regions in the U.S. That’s roughly $11,000 more than the Ohio and national median rate of about $81,000.

However, nursing home rates in Cincinnati aren’t rising as fast as they are across Ohio and the rest of the nation. Cincinnati’s nursing home rates have five-year annual growth of 3 percent, compared to 4 percent at the state and national level.

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In Ohio, the median annual cost for assisted living care has increased about 9 percent, compared to a 6 percent increase nationally in the past five years. The median annual cost for assisted living care in Ohio is $44,550, compared with $39,600 nationally.

In the Cincinnati region, assisted living residences cost about $44,415 annually.

Meanwhile, the median hourly cost for homemaker and home health aid services in the state has kept in line with national prices. The median cost in Ohio and across the U.S. is $18 per hour for homemakers and $19 per hour for home health aids.

In Cincinnati, the median cost is $19 for homemakers and $20 for home health aids.

Those numbers have gone up 1.1 percent annually for homemakers and 1.5 percent annually for home health aids in the past five years, the survey said.

More Americans have chosen to receive care in their homes, which has led to more options for seniors, keeping those prices down, said Steve Zabel, senior vice president of long term care for Genworth.

“Consumer demand for home care services has led to a proliferation of home care services providers and more choice for consumers,” Zabel said in a news release. “This competition has kept home care costs relatively stable, especially when compared to the cost of care in a nursing home or assisted living facility.”

Business Courier by Laura Englehart, Reporter

Date: Tuesday, April 10, 2012

Reporter – Dayton Business Journal
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Posted on: April 10th, 2012 at 7:34pm by bwittenbaum. Filed under: Ohio Insurance News

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