Prices jump for care at assisted-living homes

Michelle Swafford

Friday, Oct. 29, 2004 | 11:08 a.m.

The monthly cost of residing at an assisted-living home in the Las Vegas Valley rose nearly twice as fast as the national average in the past year, a new insurance study reported this week.

MetLife Mature Market Institute reported in its annual survey of assisted-living homes that Las Vegas Valley consumers are paying an average of $2,247 per month, or $26,964 per year, for assisted living space. That's up 11 percent from an average of $2,014 per month, or $24,168 per year, in 2003.

In comparison, the national average was $2,524 per month, or $30,288 annually, which is a 6 percent increase from $2,379, or $28,548 annually, in 2003.

Margaret McConnell, administrator of Charleston Retirement and Assisted Living, said consumers must keep in mind that the MetLife study reports only averages.

"The range in Nevada is extremely reasonable," said McConnell, who is also chairwoman of the Nevada Board of Examiners for Long Term Care Administrators. "It can go from $900 for shared living to $3,000 for a lot of services. There're a lot of choices. They don't have to be scared that they have $2,200 a month. That's the good news."

Although there are a range of prices, the overall cost of assisted-living care is rising in Nevada, McConnell said.

She said malpractice insurance, health insurance for employees and utility costs are all rising dramatically.

Malpractice premiums for Charleston Retirement and Assisted Living Center have gone up 144 percent in the past two years and there are no claims against the center, McConnell said.

The Las Vegas Valley's assisted-living centers are less expensive than the national average because there are too many centers locally, McConnell said.

"It has been so overbuilt and it's just now starting to catch up," she said.

The state Bureau of Licensure and Certification reports 194 assisted-living facilities in Clark County, plus another 64 homes that specialize in Alzheimer's care.

MetLife, which offers insurance and financial services, said assisted-living costs include two to three daily meals, assistance with personal care, managing medication, social activities and household chores.

The National Center for Assisted Living estimates that about 1 million Americans live in 36,000 assisted-living homes.

The average highest assisted-living cost was found in Stamford, Conn., at $4,327 per month, while the lowest average cost was $1,340 per month in Miami.