MetLife Mature Market Institute Shows Home Care Costs Rose 5% In The Last Year

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The MetLife Mature Market Institute released its national survey of adult day services and home care costs which found that the national average daily rate for adult day services is $64, up $3 per day or 5% from 2007.  The national rates for home health aides also increased 5% from 2007.  The study includes expanded coverage of statewide averages for all 50 states, in addition to rates for each state’s largest metropolitan regions.

“The trend toward older persons desiring to stay in their homes or ‘age in place’ has increased the demand for in-home care and other programs and services available during the day,” said Sandra Timmermann, Ed.D., director of the MetLife Mature Market Institute.  According to the National Adult Day Services Association, there are more than 3,500 centers nationwide that help over 150,000 Americans each day. 

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“We are closely watching this data and the trends in this industry as new adult day centers are opening in virtually all parts of the country.  This form of care has gained prominence as caregivers realize that these facilities provide a less costly alternative to nursing homes and in-home care” added Timmermann.

“Despite the increase in home health aid rates, home care costs overall have remained relatively steady for the past few years,” said Timmermann, “though these options continue to be costly. We underscore what we have been saying about long-term care costs for years: those planning for retirement should save adequately for their care needs later in life and working with a financial professional is the best way to make sure that they will be able to achieve a reliable retirement income stream with adequate plans for covering their long-term care.”

To view the report click the link below.

2008 MetLife Adult Day Services and Home Care Costs Survey

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