Washington Tops National Average on Long-Term Care Services

August 25, 2016

According to Mutual of Omaha’s 2016 cost of care study, with the exception of hourly home health aide costs, Washington State has an average higher cost for long-term care services. The survey reveals Washington State is nearly 50% higher for home health cost if a Licensed Practical Nurse (LPN) is needed as well as more costly on nearly all other options.

Here is how we compare to National Averages:

washington tops

 

 

 

 

 

 

Although revealing, these numbers don’t tell the entire story. Costs for care are rising across the spectrum of care options but not at a uniform rate. For example, if we compare the numbers to three years ago, we will see that nursing home costs are rising at about 3% a year, home health aide at 8% and assisting living is outpacing both at over 11% a year.

Budgeting for inflation is critical when you sit down and plan on how you will pay for any future long-term care costs. With nearly 10,000 baby boomers turning 65 every day until 2032, costs pressure on long-term care services is likely to outpace the overall rate of inflation.

In This Article

More Posts from 525 Advisors

Scroll to Top