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Ohio Home Care Costs Rising In Line with National Levels, Increases in Assisted Living Facility Costs Outpace National Rate

posted May 4, 2010, 10:26 AM by Mike Braun   [ updated Sep 19, 2010, 7:55 PM by Ryan Lange ]
 According to Genworth's 2010 Cost of Care Survey, home care costs in Ohio are rising at a rate in line with national levels. Costs have risen 2 percent annually both in Ohio and nationally over the past five years. However, assisted living costs have risen 10 percent annually over the same period in Ohio. This compares to a rate of 7 percent nationally(1) (see also Genworth Financial).

This is important to note given that a majority of Americans prefer to receive care in the home. According to another Genworth survey conducted earlier this year, when asked to identify the setting most preferred to receive long term care, 78 percent chose the home; 18 percent chose assisted living, and only 2 percent selected a nursing home.(2)

"Long term care is not just about nursing homes anymore," said Buck Stinson, President, U.S. Life Insurance Products at Genworth. "For many Ohio residents, the ability to live independently is critical to maintaining quality of life. Preparing for the expenses associated with one's preferred type of care is a key factor in retirement planning," he added.

Now in its 35th year of providing Long term care insurance to American families, Genworth's annual Cost of Care Survey helps raise public awareness of the costs associated with various care options across the U.S. In Ohio, the survey includes information on long term care costs in 13 regions.

Ohio Cost of Care Survey Findings

Home Health Aide Services (Licensed)