MetLife identifies trends in adult day service costs

By Staff Writer

Commentary October 02, 2008 at 08:00 PM

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The MetLife Mature Market Institute released its Sep. 30 results of a national survey of adult day services and home care costs.

On average, the hourly rate for home health aides is $20, a 5 percent increase from 2007. Hourly, homemakers make $18.

Vermont reports the highest daily costs of $141 for adult day services; the lowest pay was $27 in Montgomery, Ala. Homecare rates in Shreveport, La. reported $12 per day — Minneapolis, Minn. and Rochester, N.Y. reported the highest pay of $26 to $28. Rates vary according to regional cost differences, local demand and pricing practices.

"The trend toward older persons desiring to stay in their homes or 'age in place' has increased the demand for in-home care and other programs and services available during the day," said Sandra Timmermann, director of the MetLife Mature Market Institute.

Adult day centers are becoming more popular, due to their cost effectiveness, compared to nursing homes and in-home care.

"Those planning for retirement should save adequately for their care needs later in life and working with a financial professional is the best way to make sure they will be able to achieve a reliable retirement income stream with adequate plans for covering their long-term care," said Timmermann.

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