Retirement

http://longtermcare.genworth.com/comweb/pdfs/long_term_care/Cost_Of_Care_Survey.pdf
GENWORTH FINANCIAL
2006 COST OF CARE SURVEY
MARC H 2 0 0 6
Nursing Homes, Assisted Living Facilities
and Home Care Providers

This year we contacted more than 9,000 nursing homes, assisted living facilities and home care providers, with some significant conclusions. While rising costs on facilities have slowed,
escalating home care costs outpaced the rate of inflation. The different types of home health aids surveyed in our study show costs increasing to an average of $25.32 an hour—a 13% increase over 2005 costs

The Cost of a Nursing Home Private room was almost $71k, while a semi-Private Double Occupancy room averaged $65.5k nationally. This translates to about $195/Day and $167.5/Day. The Assisted Living one bedroom cost averaged over $32k per year, or somewhere around $88 per day. It is expensive.

Examination of the Rates for Health Care Services to the Elderly provides some cause to ponder. First, can these Health Care facilities handle the Numbers of Americans to need these services in a short time? Not the way these Services are currently provided. It might be best if Americans accepted now the need to reorganize the health care system. It is time!

A good option is to tell the current Political leadership that they cannot use the Social Security Trust Fund to fund general Government Spending and Tax Cuts. The Second thing to do is accept Social Security has to maintain its own facilities for the Elderly. The SS Trust Fund should be spent building and staffing these health facilities; Retail investments are generally on longterm Profitable deal, and in this instance, showing an intrinsically great Return on the funds invested. In-house appropriation of Funds allow for salaried Medical staff and elimination of interior Profit-setting in Costs; both extremely beneficial in holding down overall Costs, while neither option curtails health care quality. lgl