What is the average cost of nursing homes in Chicago?

According to a recent survey by Genworth Financial, the median annual cost of a private nursing home room in Chicago is $148,560. This is higher than the national median cost of $108,450. The median annual cost of a shared nursing home room in Chicago is $108,960, which is also higher than the national median cost of $84,650.

The cost of nursing homes in Chicago can vary significantly depending on the location and type of facility. For example, nursing homes in the suburbs of Chicago are typically more expensive than those in the city. Additionally, private nursing homes are typically more expensive than public nursing homes.

It is important to note that the cost of nursing homes is not covered by Medicare. Medicaid may cover the cost of nursing homes for low-income individuals. However, there are often waiting lists for Medicaid-funded nursing homes, and eligibility requirements can be complex.

If you are considering a nursing home for yourself or a loved one, it is important to do your research and compare costs from different facilities. You should also speak with a financial advisor to help you understand the financial implications of paying for nursing home care.