John Hancock Financial announced Wednesday the results of its 2011 cost of care study, which found that long-term care (LTC) costs have continued to increase, but not as much as other goods and services.
The study, conducted by LifePlans Inc., based in Waltham, MA, surveyed more than 11,000 providers, including nursing homes, assisted living facilities, and home health care agencies, in key cities across the country.
Its findings revealed that the national average annual cost of care in the U.S. is $85,775 for a private room in a nursing home; $75,555 for a semi-private room in a nursing home; and $39,240 for an assisted living facility.The average cost of care received at home was approximately $20 per hour.
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