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Costs for Most Types of Long Term Care in the Nation's Capital Growing Faster than Inflation, According to Annual Genworth Financial Study
Date:4/30/2009

e District of Columbia who had planned to tap their hard-earned nest egg to cover future long term care costs are finding this may no longer be a viable option given the economic downturn," said Buck Stinson, president, 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 Washington, D.C. Long Term Care Costs

Nursing Homes: In Washington, D.C., the median annual cost for a private nursing home room is $78,170, slightly greater than the national average.

Assisted Living: Assisted living costs are rising faster than nursing home costs in the District of Columbia. The annual median cost of a private room in an assisted living facility in Washington is $36,000, representing an annual increase of 5 percent since 2005. 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 is $20 in Washington, representing an increase of 4 percent annually since 2005. 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: In the District of Columbia, the median daily rate for adult day health care services is $72, well above the national daily rate of $54.

Full results of Genworth's 2009 Cost of Care Survey, including detailed information about costs in the District of Columbia, an interactive map of the cost of ca
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SOURCE Genworth Financial
Copyright©2009 PR Newswire.
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