Long-Term Care Costs Rise at Faster Pace, MetLife Says
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U.S. long-term health-care costs rose as much as 5.6 percent this year, led by assisted-living expenses, and are climbing at a steeper rate during a weak economy, MetLife Inc. said.
The average cost for assisted living rose 5.6 percent to $41,724 a year, compared with a 5.2 percent increase last year, New York-based MetLife, the largest U.S. life insurer, said today in a report. The rate for a private nursing-home room increased 4.4 percent to $87,235 a year and adult day services climbed 4.5 percent to $70 a day. Home health-aide service was unchanged at $21 an hour, MetLife said.