Long term health care may be necessary for many reasons. Although we can't speed up a rehabilitation process, or heal a disease overnight, the choices we make about our care can have a major impact on our recovery, and the cost of care. Finding out about different types of care, the factors that influence long term care price and ways to pay for LTC can all make a big difference.
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In-home care may be one of the cheaper options, depending on the kind of care you need. Rather than entering a nursing home or an assisted living facility, you can get help at home with daily living activities from chore services or meal delivery services. You can also receive certain types of medical care from a nurse aid, or even a family member. There may also be a clinic or medical center in your town for the occasional visit to a doctor for other kinds of treatment. Talk to your doctors to see if in-home care is possible for your situation.
Another option for people who don't need 24-hour care is assisted living. Assisted living costs are lower than those of nursing homes, and you can have the benefits of more freedom and personal space, while still being able to receive occasional nursing care or help with daily activities. Many people enjoy the social aspects of assisted living and the opportunity to interact with others living in their building, while still maintaining their own apartment.
For total long term care, when you or a loved one needs daily medical attention and help with simple daily activities, a nursing home is often the best choice. Nursing homes are expensive, in comparison with other choices, but there are ways to reduce costs. For example, costs vary widely depending what region you are living in; in a wealthy suburb on the East coast, costs may be double what they are in more rural areas in states like Wisconsin.
If your area does have high prices, for any kind of care, there are ways to help offset the costs of care. Buying a long term care insurance policy from a company like CNA, or GE (now known as Genworth) will give you benefits for LTC. Making an insurance purchase beforehand makes sense, especially in areas where the long term care price is high. You can get quotes and can compare policies online or with an insurance agent. The federal and state government-run program Medicaid also can pay for the costs of nursing care, but is only available to people with low-income and few assets.
The long term care price in your area and for the kind of long term health care you need depends may differ greatly from other kinds of care in other parts of the country. For this reason, it's important to talk with advisors who are familiar with the long term care price for your situation, in order to make the best decisions about your care. To get started, obtain a free online long term care insurance quote from an impartial expert.
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