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

ay health care providers in 331 regions across America, including three regions in Wyoming.

"Many Wyoming residents 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, 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 Wyoming Long Term Care Costs

Nursing Homes: The median annual cost for a private nursing home room is $74,460 in Cheyenne and $70,445 in Casper. Throughout the rest of the state, the comparable cost is $63,875.

Assisted Living: Assisted living costs in Wyoming range from a median annual cost of $32,880 to $38,400 for a private room. Costs have risen 15 percent a year in Casper over the past five years and 5 percent in Cheyenne. Throughout the rest of the state, assisted living costs have risen at a rate of 6 percent a year over the past five years. The national annual cost for a private room in an assisted living facility is $33,903, which has 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 ranges from $17 to $28 in Wyoming. Casper has that highest rate at $28, compared to $19 in Cheyenne. 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, the median daily rate for Casper is $52. Comparable rates for Cheyenne are unavai
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SOURCE Genworth Financial
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