By: Arthur Cooper
Submitted: 2010-12-03 14:56:55 | Word Count: 664
Whether your senior loved one has been recently discharged from a hospital, another senior care facility, or needs nursing assistance on a short or long-term basis, Nursing Home Care may be the right choice for your aging loved one. You may have been told that a nursing home is the right place for your aging loved one, but you may not be sure of what the senior care costs are, and who will pay for them. If you are questioning the Cost of Nursing Home Care, you are not alone. Many seniors and their families do not know how to pay for senior care, and they do not have any idea of what it will cost them.
Since nursing home costs vary between each state and city, depending on where your senior loved one lives at, it is important to note that the estimates given are purely an estimate. Checking the costs with the nursing home you are considering will be a great idea, even if you are in the early stages of looking for senior care housing. The average costs of nursing homes are around $70,000 per year. This is a very large amount of money, especially for a senior who may be low-income or does not have an extensive amount of money. For anyone, this is a lot of money!
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You will need to know how you are going to pay for nursing home care services when you are considering nursing home care. Insurance will help you to pay for some of the costs, but it is a good idea to learn about which insurance coverage covers the costs and their limitations on coverage. Since many seniors rely on Medicare, it is good to know what Medicare will cover. Medicare only covers short-term or limited stays in a nursing home care facility. Medicare will cover 100 days after hospitalization for skilled nursing services and rehabilitation. Medicare will not cover care such as feeding, bathing, toileting, or dressing if any of these are the only care that is needed by the senior.
Medicaid may be available to seniors who have a small amount of assets or income. Medicaid, however, only covers a portion of Nursing Home Care costs. Some nursing homes may not even accept Medicaid insurance. Medicaid insurance may protect your savings and home, depending on your financial situation, and to verify these exceptions or limitations, you should contact your local area agency on aging to find an elder law attorney or geriatric care manager in your area to further assist you.
Long Term Care insurance may also be a suitable way to help pay for nursing home care. You will need to check the provisions of your long-term care insurance plan to see what portion of Nursing Home Care coverage is protected. Another way to help pay for senior care is by looking into your employer coverage or union coverage. Your senior loved one may have had an employer or union coverage. If they had coverage from an employer or union, make sure to check with the benefits administrator to verify which healthcare services are covered.
Your state may be a good resource to help you pay for the costs of Nursing Home Care. You may be able to get financial assistance to help you pay for skilled care, custodial care, or the overall healthcare costs. If you qualify for Medicare and Medicaid, usually, most of your healthcare costs will be covered. There are also Medicaid Nursing Home Benefits or Programs of All-Inclusive Care for Elderly available. To see if you are eligible for help by your state, you will want to contact your state medical assistance office. In your phone book, search for Medicaid services to access the telephone numbers in your area.
If your senior loved one is part of the original Medicare plan, they may be able to receive Medigap insurance. A Medigap Policy will help seniors cover costs that their other plans do not cover, or it may help cover all of the nursing home costs. You will want to gather information about Medigap Insurance from your local area agency on aging, and call the Nursing Home to speak with someone regarding your Medigap Policy. Medigap helps a lot of seniors who need help paying for their costly Nursing Home Costs. Senior care can be costly, but looking into the senior insurance programs and benefit programs can help senior living costs.
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