The Prudential Insurance Company of America recently conducted nationwide survey on the rates of home care and facilities including nursing homes and assisted living facilities. The report is a comparison between the 2004 and 2010 costs of care, which shows the staggering changes in the prices of long term care services within that time period. LTC prices have increased 4.7 per cent to 6.6 per year since 2004, but the increment varies largely on the kind of services. The Consumer Price Index (refers to purchasing power and inflation rate) has gained 2.5 percent annually since 2004, which implies the CPI is low enough to stabilize the skyrocketing prices of long term care services.
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