By Emily Greenhalgh
PBN Web Editor
RICHMOND, Va. â€“ The cost for long-term, in-home care services in Rhode Island has risen over the past five years, according to Genworthâ€™s annual Cost of Care Survey.
Nationally, the average hourly cost for homemaker services and home health aide services is $18 and $19, respectively. In Rhode Island, homemaker services cost $20 per hour â€“ roughly $125 a day on average â€“ and home health aid services cost $24 per hour â€“ $150 a day.
In the last five years, the hourly cost for homemaker services in Rhode Island has exhibited a compound annual growth rate of 3.9 percent, while the hourly cost of home health aid services has increased 1.8 percent annually.
â€śConsumer demand for home care services has led to a proliferation of home care services providers and more choice for consumers,â€ť Steve Zabel, sernior vice president of Long Term Care at Genworth said in prepared remarks. â€śThis competition has kept home care costs relatively stable, especially when compared to the cost of care in a nursing home or assisted living facility.â€ť
Nationally, the average cost for an assisted living facility is $39,600 a year, having increased 5.7 percent annually over the last five years. In Rhode Island, the yearly cost for an assisted living facility is $46,770, an increase of 9.2 percent annually over the last five years.
The annual cost for a private nursing home room across the U.S. rose an average 4.3 percent annually to $81,030, while costs in Rhode Island increased 5.6 percent a year to $114,975 during that period.
According to the Center for Medicaid and Medicare Services, the number of Medicare-certified home care agencies in the U.S. rose 20 percent from 9,200 to 11,000 in 2012. During this period, the number of Medicare-certified nursing homes rose less than one half a percent from 15,000 to 15,100.
â€śThe number of nursing homes is increasing at a slower rate and no longer represents the only option,â€ť said the report.
The Genworth Cost of Care Survey is in its ninth year and provides national and local long-term care cost data as well as information on cost inflation over time.
For more information, visit Genworth.com.