Priciest Home Health Markets in the United States
Depending on where you live in the United States, you could wind up paying significantly more or drastically less for home health care. Now, there’s data that indicates just how much more someone in North Dakota and other expensive markets can expect to pay on an annual basis, compared with someone in Louisiana, or another more affordable state.
In certain Northern states, and outside of the continental U.S., home health care will cost you a pretty penny, according to state-specific information insurer Genworth Financial (NYSE: GNW) recently pulled from its 2016 Cost of Care report.
The median annual cost of a home health care aide is highest in the following places:
1. North Dakota – $63,972
2. Alaska – $61,776
3. Minnesota —$59,488
4. Hawaii – $57,772
5. Massachusetts, New Hampshire and Rhode Island — $57,200
Genworth’s 2016 Cost of Care Survey, which was published in early May, included information on how much the cost of care increased in each state over the past five years. Genworth’s new data, released June 28, includes the annual, monthly and daily median costs of assisted living care, home health care, adult day health care and nursing home care by state.
Home health care is generally the least expensive in the Southern parts of the country, the data show.
The median annual cost of a home health care aide is lowest in the following places:
50. Louisiana – $36,608
49. Alabama – $37,752
48. Mississippi – $38,896
47. Arkansas, Georgia, North Carolina and Tennessee – $41,184
Meanwhile, the median annual cost of a private room a skilled nursing facility is lowest in in Oklahoma, Louisiana and Missouri, and highest in Alaska, Connecticut and Massachusetts.
Genworth’s data slightly contradicts that of Lincoln Financial Group (NYSE: LNC), the Radnor, Pennsylvania-based arm of Lincoln National Corporation. The most expensive states for home health care are Minnesota and Alaska, and the least expensive are Louisiana and Mississippi, according to Lincoln Financial’s recent analysis.
Written by Mary Kate Nelson