Median cost of LTC services jumps 4.5% this year, rising at about three times the rate of inflation

Published 09/28/2017

For the 70% of people older than 65 who the experts say will need long term care at some point in their lives(1), the costs just notched up again.

According to the Genworth 2017 Cost of Care Survey released Sept. 26, the annual median cost of long term care services increased an average of 4.5% from 2016 to 2017, the second-highest year-over-year increase for nursing homes and home care since the study began in 2004 and nearly three times the 1.7% U.S. rate of inflation.

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