Long-term Care Costing More and More

According to Genworth’s 2017 Cost of Care survey, the median cost of a private nursing home room in the United States has increased to $97,455 per year. That’s up 5.5 percent from Genworth’s 2016 report.

The same report indicates the 2017 median cost of a private nursing home room in Texas is $72,636 per year, or $6,053 per month.

However, Medicaid only pays for semi-private long-term care accommodations. The semi-private 2017 median rate in Texas is $54,756 per year or $4,563 per month. The median semi-private rates for Amarillo nursing homes in 2017 are indicated to be a bit less at $4,487 per month or $53,844.

Even though the Texas and Amarillo median rates are substantially less than those nationally, they are reason enough to be sure you have a prudent estate plan in place.

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