High Cost of Care in Washington
Washington has nearly 5,000 long term care (LTC) facilities to be able to accommodate the varying health care requirements of its residents. Tailing these LTC options, however, are huge Washington long term care costs that can wipe out the assets of anybody who acquires care unprepared.
You read that right, LTC should not be for those who are not ready. What happens should you need it too soon but you don’t have a specific LTC plan? Use your resources to pay home health aide fees or your nursing home expenses and when you’re down to the last penny turn to relatives for care and make their lives miserable.
That’s not sarcasm but a factual statement since there are countless informal or family caregivers, mostly women, who winded up impoverished after years of providing care to their loved ones. Even the U.S. Census Bureau has the data to prove this.
By depending on family members, you are subjecting yourself to limited care so even if your health condition requires the expertise of a doctor or a nurse, you have no choice but to accept what your spouse or daughter is capable of providing you.
Apart from getting limited care, your dependence on your family deprives them of their right to live normally and plan their own health care needs. Should they need LTC in the future they will end up either impoverished or on the receiving end of LTC services that is mediocre by nature.
Planning for Washington Long Term Care Costs
Residents of Washington have many ways to plan their future health care needs and be able to afford a nursing home even if its median annual rate quadruples to $342,848 in 2030, as projected by LTC experts and financial advisors.
Just remove Medicaid from the picture because since its funding cutbacks in January this year, the hullaballoo between legislators, Medicaid nursing homes, and Medicaid beneficiaries continues.
Rather than put yourself in a long queue of aspiring Medicaid beneficiaries, you’re better off with your own personalized LTC plan.
If you’ve been following the 3 in 4 Need More campaign which was conceptualized by the 3in4 Association, a nonprofit organization which aims to inform and educate the nation about the importance of LTC planning, perhaps you would know by now that your health insurance will not cover your LTC needs. It has, in fact, suggested many effective ways people can plan their future health care needs and among these are reverse mortgages and long term care insurance (LTCI).
Dr. Marion Somers, elderly care expert and author, led the campaign via bus tour which stopped three months ago in Washington to address Washingtonians about the need to acknowledge the naturalness of aging so that they can easily plan their life after retirement.
Majority of Washington’s population prefers to grow old and receive care in their homes so they can maintain their independence. With a good plan to alleviate Washington long term care costs, Dr. Marion said this should not remain a farfetched dream.
You can plan for your future by getting long term care insurance. Check out the myriad of options we offer plus long term care insurance quotes in your state.
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