Planning for future nursing home
care is not unlike planning for college. You should start saving well ahead of
time, and have a plan in place. A long-term care insurance plan, such as
Medigap, or a plan provided by your employer can really help offset the costs
of living in a nursing home. Usually these plans have to be in place before any
kind of event that would send someone to a nursing home, and is impossible to
attain once a serious accident, or health problem has occurred. This needs to
be considered, as the price of a private room in 2012 was estimated to be as
much as $248 a day.
Check to see if Medicare will
help cover the costs of sending your loved one to a nursing home. Medicaid
provides coverage for short-term, or rehabilitation stays, but does not cover
long-term care. In fact, Medicare will only cover up to the first 100 days of
care, so keep that in mind when the need for a nursing home arises.
Medicaid can be a better option
for some of those who don’t have the funds to provide nursing home care for a
loved one. However, there are several different qualifications for Medicaid, as
the program is meant to benefit those who truly need it. Make sure you qualify
before seeking Medicaid assistance.
