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The average total cost for a U.S. one bedroom independent senior living apartment is $2,750 per month. In 2011, the average rate for a private bedroom at a U.S. nursing home was $239 per day, or nearly $7,270 per month. [ 5 ]
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The average annual cost for assisted living was $48,612. Home health care, based on a 44 average week, cost $52,654 a year [57] Genworth 2019 Cost of Care Survey]. The average cost of a nursing home for one year is more than the typical family has saved for retirement in a 401(k) or an IRA. [58]
Most people turning 65 today will need long-term care at some point, but the costs are exorbitant. Learn about ways to pay. 69% of Seniors Will Need Long-Term Care.
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More than 1 million senior citizens are served by these assisted living facilities. [ 33 ] Last-year-of-life expenses represent 22% of all medical spending in the United States, 26% of all Medicare spending, 18% of all non-Medicare spending, and 25% of all Medicaid spending for the poor. [ 34 ]
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