Roughly two out of three people over the age of 65 will need long term care either at home, through adult day health care or at an assisted living facility. The study, completed by Genworth Financial also found that long-term care isn’t just for the elderly– 40 percent of those receiving it are between the ages of 18 and 64. The study found that while long term care costs are increasing just like other health care costs, the price for in-home care is increasing at a slower rate. The increase over the past five years is 1.7 percent.

While long term care costs continue to rise nationally, the cost for in-home care is rising at a much slower pace. For many Americans, in-home care could even be their most cost-effective choice. “Long term care is not just about nursing homes anymore. Care options have expanded dramatically over the past several years to include a far greater choice of settings that reflect the ways in which individuals prefer to receive care,” Buck Stinson, President, U.S. Life Insurance Products at Genworth, said in a news release.

According to the study, receiving at home care may be more affordable than other options. Five years ago the median rate for a private nursing home room was $60,225 a year. In 2010 that has increased to $75,190. However, rates for a home health aide have increased from $17.50 an hour in 2005 to $19 an hour in 2010. The survey found that Alaska, Minnesota and Rhode Island are the most expensive states for receiving home care. The median hourly rate for an aide there is $25. Compare that to the least expensive states of Alabama and West Virgina where the same services will cost just $15 an hour.