New Jersey residents are digging deeper into their pockets for nursing home and assisted living care compared with people in other parts of the country. A Genworth Financial 2008 Cost of Care Survey lists the annual cost of a years stay in a private nursing home in the 12 northernmost counties of NJ as $105,799 vs. the national average ofÂ $76,640.
Genworth surveyed more than 10,000 facilities across the country including providers in all 50 states and the District of Columbia. Alaska was found to have the highest annual cost for a nursing home at $187,902 while Louisiana had the lowest atÂ $45,539. For assisted living NJ residents paid more than $50,000 on average for a 1 year stay in private one-bedroom unit compared to the $36,900 national average.
Home care in NJ turned out to be the only area in the survey where costs were pretty much on par with the rest of the country. The average cost of hourly care in NJ was $19.33 compared to the national average of $19.18. On an annual basis this cost equates to $44,227 in NJ compared to $43,884 for the national average.
An AARP study said that its members are increasingly saying they would prefer to remain their own homes which was described as a cheaper alternative to institutionalized nursing care.
It certainly pays to do your homework and figure out all the costs involved when it comes to providing care for a loved one.Â It helps to know all the options when makingÂ this very important decision.Â In closing Home Care is certainly a very viable option worth considering. At Expert Home Care we can provide hourly and live in care assistance in the home.