When older Americans contemplate retirement, and they consider whether to retire in another state, the regional costs of senior care might not cross their minds.
Yet more than 80% of Americans will need long-term care at some point, according to the Center for Retirement Research at Boston College. Long-term care delivers help with everyday activities, like dressing and eating.
A recent report from Caring.com, the senior care platform, ranks and rates states on affordability of assisted living, nursing homes and other metrics of long-term care.
The costs of senior care vary dramatically from one state to another. Assisted living costs $52,200 a year in South Dakota, on average, but $107,460 in Connecticut. A private nursing-home room costs $85,045 in Texas but $205,130 in Oregon.
Long-term care costs can be staggering
Wherever you retire, long-term care costs can be staggering. Assisted living cost $5,900 a month in 2024, on average, according to CareScout, a long-term care network. A private room in a nursing home averaged $10,646 a month.
Many Americans don’t know those costs, and many assume they won’t have to pay them.
Most Americans wrongly believe Medicare covers long-term care, according to research by Nationwide.
“I think the first thing they’re surprised about is that Medicare doesn’t pay for it,” said Doug Robertson, senior director of government affairs at Right at Home, an in-home care provider. “The sticker shock is something they don’t plan for, and it’s sudden.”
Much of the data in the Caring.com report comes from CareScout, which publishes median prices by state for long-term care. Here are a few standouts:
The 10 most affordable states for senior care . . .
Here are profiles of the 10 most affordable states for senior care, according to Caring.com:
. . . And the 10 least affordable states for senior care
And here are the 10 least affordable states for senior care:
This article originally appeared on Wichita Falls Times Record News: How affordable is senior care in Texas? Find out
Reporting by Daniel de Visé, USA TODAY / Wichita Falls Times Record News
USA TODAY Network via Reuters Connect
