Costs for long-term care rise for fifth straight year
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- April
- 29
A new study shows that costs associated with long-term care for the elderly and patients with chronic illnesses have increased 18 percent during the last five years in areas surrounding Manhattan, including Westchester, Rockland and Putnam counties.
The annual cost of long-term care rose to $129,570 in the Lower Hudson Valley, the boroughs of New York City outside Manhattan and the Long Island counties of Suffolk and Nassau, according to a study by Genworth Financial Inc.
The nationwide study found that the cost of such care, provided in nursing homes, assisted living facilities and in the home, rose for the fifth consecutive year.
In Manhattan, the cost of long-term care rose to $145,392, said the Richmond, Va.-based seller of financial products, including insurance.
This entry was posted
on Tuesday, April 29th, 2008 at 10:16 am by David Schepp.
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