Silver Book Fact

The national average annual cost for a private room (single occupant) in a Medicare certificed nursing home increased $1,490 from 2005 rates.

Genworth Financial. Genworth Finanical 2006 Cost of Care Survey: Nursing homes, assisted living facilities and home care providers; March 2006

Categories

  • Cost of Disease
  • Economic Burden

Related Facts

  • Growth of chronic conditions in older adults
    The percentage of adults age 65 and older with multiple chronic conditions grew from 37.2% in 1999-2000, to 45.3% in 2009-2010.  
  • This year’s outlook for national health spending calls for growth to average 7.2% over the coming decade — 2.1 percentage points faster than projected average annual growth in GDP over…  
  • In 2003, national health expenditures were 15.3% of the GDP, compared to 5.1% in 1960.  
  • Spending on prescription drugs is projected to grow 3.5% in 2008–a slowdown of 1.4% from 2007–and reach $235.4 billion. Drug spending growth is expected to rebound to 4.5% in…  
  • Older Americans spent 12.4% of their total expenditures on health, more than twice the proportion spent by all consumers (5.7%).