The Average Cost of Nursing Homes in New York – 2021 Edition

January 5, 2021 Austin F DuBois

Each year, the New York State Department of Health issues updated average costs of nursing homes for each region in New York. These numbers are important, particularly when protecting assets from nursing homes at the last minute.

The new “Regional Rates”, as they are called, can be found here. The most relevant for those of us in the Hudson Valley is the “Northern Metropolitan” rate of $13,206. This is the average per month out-of-pocket cost for a nursing home in the Hudson Valley (Orange, Ulster, Dutchess, Rockland, Sullivan, Putnam and Westchester counties).

The new monthly rates for other regions are:

  • $10,857 – Central
  • $11,689 – Northeastern
  • $13,020 – Rochester
  • $11,054 – Western
  • $13,837 – Long Island
  • $13,037 – New York City

This rate is important because when someone needs a nursing home and has not, or not sufficiently, proactively protected their assets, they are left with limited options. One of the most common strategies to protect assets is referred to as a “gift/loan” or “half a loaf” plan. In such a plan, an experienced elder law attorney will undergo a calculation that factors in the:

  • nature and extent of the applicant’s assets
  • applicant’s income
  • cost of the nursing home
  • applicable Regional Rate

A higher Regional Rate usually means the family can protect and preserve more assets. So when the Dept. of Health acknowledges that the cost of care in a given region is increasing, as it has done this year, they are ensuring that our asset protection techniques work as they should.

If you’re concerned about the high potential cost of your or your loved one’s care, contact us here.