Genworth's 15th Annual Cost of Care Survey Shows Continuing Rise in Long Term Care Costs
Genworth Financial Inc (GNW)
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Source: PR Newswire
RICHMOND, Va., Oct. 16, 2018 /PRNewswire/ -- Living longer has its advantages, but it also increases the likelihood of needing long term care2, a proposition that is getting more costly with every passing year. According to the 15th annual Genworth Cost of Care Survey released today, the blended annual median cost of long term care support services has increased an average of 3 percent from 2017 to 2018, with some care categories exceeding two to three times the 2.1 percent U.S. inflation rate. The annual median cost of care now ranges from $18,720 for adult day care services to $100,375 for a private room in a nursing home. Between 2017 and 2018, assisted living facilities increased the most at 6.67 percent, followed by a semi-private room in a nursing home at 4.11 percent. Based on the five-year compound average growth rate (CAGR), the largest increase occurred within the nursing home facilities category at over 3 percent.Topline Results from 2018 Cost of Care SurveyCategory
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- 4/26/24 - Form 13F-HR
- 4/17/24 - Form PX14A6G
- 4/11/24 - Form S-3ASR
- GNW's page on the SEC website