Americans can't afford to grow old as nursing home costs soar


It seems not all industries are suffering from the recession. Even though Americans are paying less on everything from hotel rooms to holiday gifts, and small businesses are fighting to hang on to their dwindling credit, the recession-inspired rollback theme hasn't quite made it to the long-term health care industry.

According to the MetLife Market Survey of Nursing Home, Assisted Living, Adult Day Services, and Home Care Costs, private room nursing home rates rose 3.3% to a whopping $219 a day, or $79,935 per year. Quite a hike.

Assisted living costs also surged ahead by 3.3% to $3,131 per month.

Home health care aides also got a raise. Currently, they're pulling in an average $21 per hour, up 5%.