Texas is 12th most affordable state for home care services Bizjournals.com
Home care costs, as well as costs of other long-term care services, are lower in Texas than they are nationally, according to Genworth’s 2010 Cost of Care Survey released today.
The median annual rate for home care costs in Texas is $41,070 statewide, 6 percent lower than the median annual rate of $43,472 nationally. Texas is the 12th most affordable state for home care services.
According to another Genworth survey conducted earlier this year, when asked to identify the setting most preferred to receive long-term care, 78 percent chose the home; 18 percent chose assisted living, and only 2 percent selected a nursing home.
“Long-term care is not just about nursing homes anymore,” said Buck Stinson, president, U.S. Life Insurance Products at Richmond, Va.-based Genworth Financial , in a statement. “For many Texas residents the ability to live independently is critical to maintaining quality of life. Preparing for the expenses associated with one’s preferred care setting is a key factor in retirement planning.”
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