Investing

States Where Elder Care Is Sky High

10. New Jersey
> Median private nursing home cost: $114,975 (tied for 6th highest)
> Median assisted living facility cost: $68,556 (the highest)

> Life expectancy: 79.7 (tied for 14th highest)
> Median elder income: $20,000 (5th highest)

Depending on the type of assistance provided, New Jersey’s long-term care varies in cost. According to Genworth’s survey, the estimated costs of homemaker services are average. Hands-off care, which includes helping with cooking and cleaning, is 22nd highest in the country, and hands-on care, which includes bathing, dressing and cooking by a professional service, is the 23rd-most expensive. However, assistance for the elderly outside of the home is much more pricey in the state. The annual median costs for a semiprivate nursing home is $106,489, and private nursing homes cost a median $114,975 — both are the sixth-highest costs for their category.

9. Rhode Island
> Median private nursing home cost: $114,975 (tied for 6th highest)
> Median assisted living facility cost: $46,770 (11th highest)
> Life expectancy: 79.3 (18th highest)
> Median elder income: $17,200 (25th lowest)

In Rhode Island, 2.5% of residents are 85 and older. While this may not seem like much, it is the highest proportion in the country, tied with three other states. According to Wider Opportunities for Women’s Elder Index, senior citizens earn a median income of $17,200 each year, which is 25th lowest in the country. The costs of living, however, are among the highest in the U.S. This disparity extends to long-term care. Median nursing homes costs are $114,975 each year. These costs have gone up by more than 5% in the past year.

8. Connecticut
> Median private nursing home cost: $145,817 (2nd highest)
> Median assisted living facility cost: $53,700 (6th highest)
> Life expectancy: 80.2 (5th highest)
> Median elder income: $19,580 (7th highest)

Connecticut is one of the wealthiest states in the U.S. The median income for the elderly is estimated at $19,580 per year, the seventh-highest in the U.S. The costs for long-term care are just as high, however. This is especially the case for nursing homes. Senior citizens at a semiprivate facility can spend up to $178,850 each year. At a private nursing home, year-round expenses can amount to nearly $190,000 per year.

7. New Hampshire
> Median private nursing home cost: $105,120 (tied for 8th highest)
> Median assisted living facility cost: $48,000 (9th highest)
> Life expectancy: 79.7 (tied for 14th highest)
> Median elder income: $18,500 (16th highest)

While New Hampshire has among the highest long-term care costs in the country, the good news is that they are not increasing as much as they are in the rest of the country. The median price of a private nursing home in the state went up just 0.75% per year over the past five years, the smallest increase in the country. Meanwhile, home health aide services did not go up at all.

6. Vermont
> Median private nursing home cost: $101,506 (10th highest)
> Median assisted living facility cost: $46,800 (10th highest)
> Life expectancy: 79.7 (tied for 14th highest)
> Median elder income: $17,300 (25th highest)

Vermont has a large elderly population. Median age in the state is 41.5 years, the second-oldest in the U.S. Also, 14.6% of the population is 65 or older, the seventh-largest percentage in the U.S. According to WOW, median income for an elderly resident is just $17,300, the 25th highest in the country. Long-term care costs each year can vastly exceed that. Annual median costs for treatment at an adult day health care come to $34,190, the most expensive of any state.