The cost of private nursing home care may have increased about 14% over the past 2 years, causing the average nursing home prices to jump. Prudential Financial Inc., Newark, N.J. (NYSE:PRU), has reported that figure in its 2010 long term care cost study. Prudential found that the cost of assisting living facilities has increased just 2% since it published a review of 2008 long term care prices. The recession has slowed cost increases at some facilities and caused others to close down completely, the company…
Posts tagged "Nursing Home"
There are over 60,000 assisted living and nursing home properties throughout the United States. More than 2,000,000 people reside in these properties, but over the last ten years the differences between assisted living and skilled nursing have become less distinct. There are a number of contributing factors to consider: pressure on Medicare and Medicaid budgets, private pay services such as Alzheimer’s care, personal tastes of the aging Baby Boomers, and the economics of the facilities themselves. Assisted Living facilities have increased the level of service…Assisted Living, Nursing Home
In a report released this past Saturday, the government agency that administers Medicare and Medicaid detailed the possible impact of cuts proposed in healthcare reform passed by the House of Representatives. The study states that the proposed $500 billion in cuts would be so severe that hospitals and nursing homes would be forced to stop accepting Medicare as payment. The report says that seniors would suffer form additional reductions in benefits and services to pay for the $500 billion in reduced spending. The White House…Medicare, Nursing Home
A recently released study shows that the costs of care in a nursing home are growing at twice the rate of inflation. It should be no surprise to anyone currently looking at making the move into assisted living or long term care that it is an expensive proposition. Complicating matters for families is the impact of the economy on the value of assets such as a home or investments in stocks and mutual funds. The report lists the least (and most) expensive states for nursing…Cost of Care, Nursing Home