Getting Creative with Long Term Care
As the cost of care continues to go up, senior citizens living in different parts of the country are letting their creative juices flow in order to survive. For instance, in South Dakota long term care means joining an RV retirement community as this is more affordable compared to the cost of nursing homes, assisted living and even in-home care.
There are many RV parks in South Dakota that are designed for elderly folks who simply want to continue living independently without compromising their health care needs. Receiving care in an RV would normally cost $800 or $1,000 a month plus the elderly folks have the freedom to create their own social activities.
Fun and cost-effective sums up these RV retirement communities but once an individual starts to develop a serious health condition which would require skilled nursing care round-the-clock, he won’t be able to receive this from an RV retirement community. He will need a licensed nurse and doctor to look after him but if he is not financially equipped he can’t possibly avail the quality of care that he needs.
It is not wrong to consider RV living in your retirement plan as this is, in fact, an excellent strategy to manage your finances better. However, if you think it can help you escape the high cost of care, your retirement plan is obviously fuzzy and you need to assess it with a professional long term care (LTC) specialist.
South Dakota Long Term Care Costs
So many nursing homes in South Dakota have successfully received very high ratings from the Centers for Medicare and Medicaid Services and this means one thing – this state offers outstanding health care services.
Quality care always equates to high costs though. Skilled nursing care in South Dakota will cost a lot of money as the daily rate of a private nursing home room is $193, on average, or $72,100 annually. In this institutional LTC facility, elderly residents who have a chronic illness or who are suffering infirmity are monitored 24 hours a day by a licensed medical practitioner.
On the other hand, residents of assisted living facilities must have $2,888 put aside every month or $34,650 if they are paying on an annual basis. Unlike nursing homes, assisted living residents are not monitored round the clock because none of them is critically ill. Before putting a loved one in this type of LTC facility make sure that he does not require medical attention because assisted living facilities only provide custodial care.
Majority of South Dakotans, however, prefer in-home care as this allows them to remain close to their loved ones, but this type of LTC is not cheaper if that is what you have in mind. For a home health aide to assist your mom or dad with his activities of daily living (ADLs) like eating, bathing, dressing, and transferring among others you have to spend $24 per hour or $195 a day.
Without a clear plan for your future health care needs, you will no doubt lose everything which took you a lifetime to acquire because the cost of South Dakota long term care is expected to go higher in the coming years. Think of your future, start planning today and get long term care quotes.
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