Navigation Links
Location, Location, Location: Cost of Long-Term Care Services Vary Widely by Region
Date:2/18/2009

Northwestern Mutual releases research revealing stark differences in cost for home health care, assisted living facilities and nursing homes across the U.S.

MILWAUKEE, Feb. 18 /PRNewswire/ -- Some Americans are spending nearly seven times more for certain long-term care services than others, according to research commissioned by financial security company Northwestern Mutual.

The survey of nearly 7,000 home health care providers, assisted living facilities and nursing homes revealed stark differences in cost for long-term care services based on geographic location. The most significant difference between locations was the hourly wage of Home Health Aides (HHAs), causing consumers in the most expensive markets to spend nearly seven times more than those in the least expensive markets.

"This information can be very helpful as people plan for their future long-term care needs," says Terence Holahan at Northwestern Mutual. "Americans are living longer, so they need to be thinking ahead and educating themselves about the options available. Certainly people will want to look at their lifestyle needs, considering how - and where - they will be cared for," adds Holahan, who directed the new research.

In addition to HHAs, the cost of nursing home care differed greatly across the country. For example, residents of Lafayette, Louisiana are spending an average of $118 a day for a private nursing home room, while residents of New York City are spending five times that amount, at an average of $590 a day. The national average was $210 a day in the markets surveyed.

Similarly, the costs of a private room in an assisted living facility vary widely by region. A room in El Paso, Texas, will cost on average $2,043 per month on average, versus more than twice that in Bridgeport/Stratford, Connecticut, at $4,896 per month.

Average cost of care by state

When looking at the cost of long-term care by state, similar contrasts emerge. For instance, Hawaii is the most expensive on average for care in an assisted living facility at $4,406 a month, which is two and a half times the average cost of the least expensive state, North Dakota ($1,901 a month). A notable regional pattern emerges in the northeast, where Connecticut ($4,077), Maine ($4,190), Maryland ($4,289), New Hampshire ($4,299), New Jersey ($4,063) and New York ($4,122) have average monthly costs for care in an assisted living facility above $4,000.

"These differences in cost for long-term care services illustrate the choices Americans have and the questions they should ask themselves," continued Holahan. "Americans should prioritize. Is it important to live in close proximity to family, or in a moderate climate? Do you want to remain in your own home, or would you prefer a retirement community? All of these considerations will impact your budget for long-term care."

How long will you live?

Lifespan is another key consideration as people prepare for potential long-term care needs. How many years beyond retirement will you live, and what actions can you take today to live a longer, happier, healthier life? Check out Northwestern Mutual's online Lifespan Calculator, which considers 13 lifestyle factors including diet, drinking, smoking and stress to estimate the length of a person's lifetime.

About the study

In October and November 2008, the Long Term Care Group, Inc. conducted customized Cost of Care research on behalf of Northwestern Long Term Care Insurance Company, a Northwestern Mutual company, of nearly 7,000 home health care providers, assisted living facilities and nursing homes. To view the full survey report, visit www.northwesterncostofltc.com.

About Northwestern Mutual

The Northwestern Mutual Life Insurance Company, Milwaukee, WI, a FORTUNE 500 company with over $1 trillion of life insurance protection in force, has been helping its policyowners and clients achieve financial security for more than 150 years. Through the Northwestern Mutual Financial Network, the marketing name for the company's nationwide sales distribution arm, the company and its affiliates deliver a unique approach to combining insurance and investment solutions to help clients achieve financial security. These solutions include life insurance, long-term care insurance, disability insurance, annuities, mutual funds and employee benefit services. Northwestern Mutual's subsidiaries and affiliates are comprised of Northwestern Mutual Investment Services, LLC, a wholly-owned company, broker-dealer, member of FINRA and SIPC; the Northwestern Mutual Wealth Management Company, a wholly-owned company of Northwestern Mutual and limited purpose federal savings bank; Northwestern Long Term Care Insurance Company; and the Russell Investment Group

Further information on Northwestern Mutual, its subsidiaries and affiliates can be found at: http://www.nmfn.com/.


'/>"/>
SOURCE Northwestern Mutual
Copyright©2009 PR Newswire.
All rights reserved

Related medicine news :

1. Brain Aneurysm Rupture Risk Tied to Location, Size
2. Smoking may strongly increase long-term risk of eye disease
3. Long-Term Fatigue Plagues Cancer Survivors
4. Dont Ignore Tough or Long-Term Stomach Pain
5. Shaking may cause brain damage and serious long-term effects to infants
6. Sexual function affected by stem cell transplant according to long-term study
7. Smoking can harm the long-term effects of some oral surgery procedures
8. Childhood Obesity Epidemic a Long-Term Challenge
9. Conseco to Host Follow-Up Long-Term Care Conference Call
10. New Report Finds Information Technology Essential But Not Sufficient in Long-Term Care
11. No Link Between Amateur Boxing, Long-Term Brain Damage
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:8/18/2017)... , ... ... ... For Immediate Release                Contact: ... Shows Young Women Seek Sex and Relationship Advice from their ...
(Date:8/18/2017)... New York, NY (PRWEB) , ... August 18, ... ... the launch of this summer’s edition of “Vision & Hearing,” advocating for active, ... The campaign focuses on resources available for individuals with hearing impairments and shares ...
(Date:8/18/2017)... ... August 18, 2017 , ... The Dawn Johnson Insurance Group, a ... charity drive to generate community support for efforts to educate the local population on ... for all types of cancer. , Each day in America, roughly 4,600 new ...
(Date:8/18/2017)... ... August 18, 2017 , ... ... planning services to communities in east Texas, is launching a regional charity effort ... , Founded in 1991, the Pediatric Brain Tumor Foundation (PBTF) has raised nearly ...
(Date:8/18/2017)... TX (PRWEB) , ... August 18, 2017 , ... ... management and financial planning firm that serves residential and commercial clients in the ... charity drive to raise community support for the fight against cancer. , Founded ...
Breaking Medicine News(10 mins):
(Date:8/8/2017)... TEL AVIV, Israel, Aug. 8, 2017  BioLineRx Ltd. ... and immunology, today reports its financial results for the ... and achievements during the second quarter 2017 and to ... on multiple clinical development programs for the Company,s lead ... Phase 3 pivotal study with BL-8040 as novel stem ...
(Date:8/7/2017)... 2017 Insightin Health, provider of data-driven ... engagement, announced the selection of Michael Wood ... effective as of February 2017. In this role, Wood ... for our clients. Wood brings with him more ... business analytics within the healthcare industry. Wood formerly ...
(Date:8/7/2017)... Mich. , Aug. 7, 2017 Diplomat Pharmacy, ... of Joel Saban as president, effective Aug. 7, ... Urick has decided to pursue other interests and will ... "During his tenure, Paul has served us in multiple leadership ... Specialty Pharmacy in Jun. 2015 and has provided decisive, strategic ...
Breaking Medicine Technology: