Tip: Nursing home costs rise on LI

You might believe only the very rich could afford to spend $400 a day for a room in a swanky hotel for an extended period of time. But $400 is the average cost per day for a semiprivate room in a nursing home on Long Island. In 10 years, that is projected to soar to $650 a day.

These are some of the sobering numbers from Genworth Financial's 2011 Cost of Care Survey. Genworth, a Richmond, Va.-based financial-services company, has conducted the survey on costs of various long-term-care options annually since 2004.

The company says many costs are rising at a "significantly faster pace" in New York State than in the rest of the country. In New York, the cost of nursing home care on Long Island is second only to Manhattan and is one of the highest in the nation.

"There's really no surprise with this year's data," says Matthew Sharpe, a senior vice president at Genworth. One bit of good news, especially for those who want to remain in their homes for as long as possible, is that costs for home health care are essentially unchanged since 2010. Sharpe attributes this to competition in the sector, one of the few booming areas in a sluggish economy.

On its Cost of Care website (bit.ly/costofcare), Genworth offers interactive tools so you can compare costs in 437 areas in the United States, including Long Island. In addition, you can see projected costs for care over the next 10 to 30 years. Genworth also offers long-term-care advice and a retirement calculator at caringtalk.com.

While the numbers may be depressing, they can be used to your advantage. "Knowing what the costs are for the various services being offered will help you negotiate," Sharpe says. Here are other ways you may be able to help lower costs, according to Genworth:

Assisted living Some facilities will waive or discount the one-time move-in charge assessed on new clients if there are a lot of vacancies. It doesn't hurt to ask.

Home care If the services required are relatively easy and needed on regular hours (for example, a weekday schedule), see if the agency will lower its hourly rate.

Nursing homes Genworth says nursing homes generally don't discount rates, but you may be able to get extra amenities or even a private room upgrade, depending on the circumstances.