Paying for Extended Care
Experts estimate that 33 percent of men and 52 percent of women will need some type of extended care in their lifetimes. Yet few of us put much time, thought, or resources into planning ahead for our family’s future extended care needs. The important question is: With average yearly nursing home costs over $100,000.00 how can we access and afford care when we need it?
Basically, there are three common ways to pay for extended care:
Personal Assets
Residents of an extended care facility can pay for their care directly from their personal assets. Unfortunately, few people accumulate the necessary wealth to be able to cover all of their extended care needs without assistance from long-term care insurance or taxpayer-funded programs like Medicaid.
Long-term Care Insurance
Purchasing long-term care insurance from a reputable company is an excellent way to assure that you will have the care and assistance you need in the future, without losing all personal assets or depending on the Medicaid system. Unfortunately, few employers offer it as a benefit and few people, less than ten percent of the population, purchase it. People with long-term care insurance do not have to rely on taxpayers to pay for their nursing home care. However, consumers must plan ahead and purchase the coverage well before they need it. Long-term care insurance is also available for assisted living residences.
Read More About Long-Term Care Insurance Here
Government Funds
Nearly 70 percent of all nursing home residents pay for their care by spending down their personal assets and becoming eligible for Medicaid, a taxpayer-funded program intended to provide healthcare services. Unfortunately, even many middle class and higher income individuals end up on Medicaid to cover their extended care. If you need assistance with the Medicaid application please see the Admission Director. Medicare, also funded by taxpayers, covers minimal medically necessary extended care services, usually after a hospital stay, when rehabilitation services are needed.
Read More about Government Funded Programs Here
We Provide the Following Services
- 24-Hour Skilled Nursing
- Physical Therapy
- Occupational Therapy
- Speech-Language Therapy
- Specialized Skin & Wound Care
- Restorative Nursing
- Dementia Care Practitioner
- Pastoral Services
- 24/7 Activity Services
- Social Services
- Registered Dietician
- IV Therapy
- Beauty & Barber Shop
- Patient Fund
- Palliative Care
- Dental Services