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Alaska Long Term Care Costs Highest in the Nation, Although Growth in Costs Trails National Average, According to Annual Genworth Financial Study
Date:4/30/2009

m care costs are finding this may no longer be a viable option given the economic downturn," said Buck Stinson, president, insurance products at Genworth Financial. "Two-thirds of people over age 65 will need long term care in their lifetimes. The localized information provided by Genworth's 2009 Cost of Care Survey is invaluable to families and their trusted advisors in mapping out a financial security strategy to cover the growing cost of this vital care."

A Snapshot of Alaska Long Term Care Costs

Nursing Homes: Genworth's 2009 Cost of Care Survey analyzed long term care costs in two regions in Alaska: Anchorage and the rest of the state. While the median annual cost for a private nursing home room in Anchorage is unavailable, the cost for this type of care in the rest of Alaska is $187,610, or $514 per day, well over twice the national cost.

Assisted Living: The median annual cost for a private room is $55,200 in Anchorage, and $60,048 across the rest of the state. Costs for this type of care have risen 5 percent annually over the past five years in Anchorage, while costs throughout the rest of the state have remained flat. Nationally, the annual cost for a private room in an assisted living facility is $33,903 and costs have increased 5 percent annually over the past five years.

Home Care: The median hourly rate for a non-Medicare certified, state licensed home health aide has decreased 11 percent annually over the past five years in Anchorage, to $15 per hour. Across the rest of Alaska, costs have increased 3 percent annually to $24 per hour. The cost nationally for this type of care is $18 per hour, with costs increasing 2 percent annually over the past five years.

Adult Day Health Care: For adult day health care service
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SOURCE Genworth Financial
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