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Growth in New York Long Term Care Costs Outpacing the Rate of Inflation, According to Annual Genworth Financial Study
Date:4/30/2009

ate licensed home health aide ranges from $18 in Manhattan to $22 in Rochester and Albany. Costs have risen 4 percent annually over the past five years in Manhattan and 4 percent annually in the surrounding areas, to $21 per hour. The cost in Buffalo has increased 2 percent annually to $20 per hour, 6 percent annually in Albany to $22 an hour, and 1 percent annually in Rochester to $22. 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 services, costs range from a median daily rate of $35 in Binghamton to $115 in Manhattan and Rochester. In the areas surrounding Manhattan the cost is $75, while it is $45 in Buffalo and $46 in Albany. The daily rate nationally is $54.

Full results of Genworth's 2009 Cost of Care Survey, including detailed information about costs in New York, an interactive map of the cost of care in all 50 states and 331 geographic regions, and other useful tools and information, are available online at http://www.genworth.com/costofcare.

Genworth's 2009 Cost of Care Survey was conducted by CareScout during January, February and March 2009. CareScout, which was acquired by Genworth Financial in June 2008, has conducted the Genworth Cost of Care Survey since 2004.

About Genworth Financial

Genworth Financial, Inc. is a leading Fortune 500 global financial security company. Genworth has more than $100 billion in assets and employs approximately 6,000 people with a presence in more than 25 countries. Its products and services help meet the investment, protection, retirement and lifestyle needs of more than 15 million customers. Genworth operat
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SOURCE Genworth Financial
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