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April 29, 2008

Long-term care costs jump in ME

The cost of long-term health care in Maine increased 19% in the past five years, according to an annual study by Genworth Financial.

The Richmond, Va.-based financial security firm's Cost of Care Survey found that Maine's increase in long-term care costs since 2004 have increased more than the 17% national average, according to a press release. A private one-bedroom unit in an assisted living facility in Maine has an average annual price of $49,240, while the U.S. average is $36,090. The average yearly cost for a home care provider in Maine of $47,545 also is higher than the national average of $43,884.

Genworth Financial surveys more than 10,000 nursing homes, assisted living facilities and home care providers nationwide every year for its Cost of Care Survey, according to the release.

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