Long-Term Care Costs Rising At Twice the Rate of Inflation to $247 Per Day...

Long-Term Care (LTC) costs grew at a compound annual growth rate average of +6% between 2004 and 2010, while the consumer price index rose at a rate of +2.5% per year.

Between 2008 and 2010, the cost of daily care in a nursing home with a private room rose +14% to an average daily rate of $247.

Costs for a semiprivate room in a nursing home jumped +11% to an average of $215 a day.

And home health care expenses increased +13% to $190 a day, according to a report by Prudential Financial.