Genworth 2016 Annual Cost of Care Study: Home Care Costs Increased In West Virginia; Overall Costs Are Down
RICHMOND, VA– The cost to receive long term care services at home with a home health aide has increased nationally, and these costs in West Virginia are also increasing, according to Genworth's 13th annual Cost of Care Study. Home is where most Americans receive long term care1.
Overall, long term care costs across all care settings in West Virginia, including home care, adult day services, assisted living2 and nursing facilities, are down from 2015.
"Although home care costs are much less expensive than those in facility-based settings, the costs can add up to as much as $37,752 per year in West Virginia, which is why it's imperative for consumers to begin planning now for how they will pay for that care should they need it," said Tom McInerney, president and chief executive officer at Genworth, noting that at least 70 percent of Americans over age 65 will need some form of long term care services and support during their lives3.
"The annual Cost of Care study is our way of helping Americans fully understand the financial implications of long term care so that they can plan ahead and, when the time comes, focus on getting the best care without the worry and stress of how they're going to pay for it," he said.
Key Metro Area Trends
Cost of care trends are also measured at the local level. Key trends in major metropolitan areas in West Virginia include:
•Charleston: Home health aide costs are 9.09 percent less expensive in Charleston than the state average, at $2,860 per month
•Huntington metro area: The cost of semi-private nursing home care is 23.63 percent less expensive in the Huntington metro area than the state average, at $6,388 per month
•Parkersburg metro area: The cost of adult day services is 73.92 percent more expensive in the Parkersburg metro area than the state average, at $2,167 per month