It is not surprising that long-term care can be expensive, but the cost differences based on location, level of care and comfort are staggering, according to recent reports.
The 2015 GenWorth Cost of Care Survey explored the price of long-term care, breaking it out by private or semi-private room in a nursing home, home health aide, homemaker services, assisted living facility and adult day health care. The data further drilled down into differences by state.
For example, the national median annual cost of a private room in a nursing home was $91,250. However, in Alaska, that same service cost a recipient $281,415, among the highest in the nation. By comparison, in Oklahoma, someone who wanted the same long-term care option would only need to pay a median cost of $60,225, or about one-fifth as much as in Alaska.