Cost of Nursing Homes
With the exception of hospitalization, skilled nursing homes are the highest level of care for older adults.. Nursing homes provide custodial care which includes help getting in and out of bed and assistance with feeding, bathing, and dressing. Nursing homes differ from other senior housing options in that they are also able to provide a level of medical care. A licensed physician supervises each patient’s care. Nurses and other medical professionals are generally on site at all times, twenty four hours a day. Occupational and physical therapists are also available on site. This allows the delivery of medical procedures and therapies on site that would not be possible in an assited living environment.
Depending on the area, the cost of nursing home care can vary widely. Average costs can be upward of $73000 per year. It's important to make a plan for covering the costs of the nursing home. Some seniors may have insurance plans that can help to cover the cost of a nursing home. Only a limited stay in a nursing home can be covered by Medicare. A period of about one hundred days after a three day hospitalization may be covered by Medicare in a skilled nursing or rehabilitation facility. The the only care required is custodial care, Medicare will not help to offset the cost.
Medicaid, a government program, can cover the majority of the cost of nursing home care for those with limited income and assets. Unfortunately, many nursing homes will not accept Medicaid. If you suspect that you may need extended nursing home care in the future, you may want to contact an elder law attorney to learn more about which assets are protected and to what extent. Your home is normally not considered in eligibility for Medicaid if you have a spouse living at home. Long term care insurance is another means of offsetting the cost of skilled nursing facility. To see what portion of nursing home care is provided, check the provisions of your plan.