Choosing a Place for the Highest Level of Care
Long term care (LTC) is divided into two types namely custodial care and medical care. One would have many choices for the former as he can receive this at home, in an assisted living facility or in an adult day care health center among others. Now the second one can only be provided in nursing homes.
Aside from being equipped with licensed nurses who are trained to handle a wide array of medical conditions, every single nursing home nowadays is complete with the necessary hospital equipment. This type of institutional LTC facility also has special care units for specific types of health conditions such as Alzheimer’s and other forms of dementia.
Given the vast offerings of a nursing facility, it’s not surprising that its monthly rate is twice that of an assisted living facility. In fact, for an individual to be able to receive care in this type of LTC facility he would need a long term care insurance (LTCI) coverage. If he doesn’t have this, he should gradually spend down his assets as he’ll eventually turn to Medicaid for financial assistance.
At present, the annual rate of a nursing home ranges from $77,745 to $82,000, on average, but statistics show that nursing homes in the New England region charge six figures annually. Vermont’s nursing facilities, for instance, charge $100,375 annually according to Genworth Financial’s 2011 Cost of Care Survey. Meanwhile, in New Hampshire this type of facility would be around $102,000 while in Massachusetts it’s $125,925.
You’ll Need a List of Nursing Homes
As mentioned earlier, nursing home care charges high rates because it practically offers what hospitals do. It pays to know the truth, though, that not every one of these nursing facilities offer quality care as there are many that shamefully tarnish the industry’s reputation by providing care that is below par.
How many times have you heard reports of senior citizens in a nursing facility suffering bed sores because they were left to urinate and defecate in their beds? What about grandpas and grandmas being emotionally, physically and sexually abused?
By keeping abreast of LTC news you will discover the truth that not all LTC facilities are worth your trust. For your safety, it is best to scout for a potential nursing facility years before you require care. Ideally, check with the records of your state’s Department of Health and Human Services as this will enable you to gather a list of nursing facilities.
Once you’ve managed to come up with a list of 15 nursing facilities you can start comparing the benefits and special features of each. If possible, pay each one a visit and live like its residents so that you can experience firsthand how it’s like to be in such LTC facility.
Talking to families who have loved ones in nursing homes will also help you generate lots of useful information.
Bear in mind that your LTC plan should not only consist of a reliable insurance coverage that will protect your assets from the high cost of care. It should also involve proper weighing of nursing homes because you’ll never know when you’ll need one of these places.
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