Nursing Home
Cost on the Rise |
 There can be much stress in being the caregiver for a loved one. The stress
can be both physical and mental. When the primary caregiver is the
patient's spouse, there is especially a great deal of danger. Ocassionally, the caregiver spouse dies before the patient himself.
That is why a plan should be developed to deal with the situation when it
arises.
While it may seem morbid, it is ideal to plan for the worst-case scenario.
Get everyone in your family involved and be sure to include an attorney. As
soon as you detect physical or mental incompetence, follow through with the
plan your family members and elder parent have decided upon.
The economical question is also a tough one. Who pays for it and how?
LONG TERM CARE INSURANCE or LTCI
While very few seniors currently have this, it is important to decide on a
solid LTCI plan as soon as possible.
SELF PAY
Many families don't have the sufficient funds to pay for nursing facility
services. This typically costs between four and seven thousand dollars a
month.
MEDICAID.
This is a medical benefit program that is need based and state supported
only if three conditions are met. These conditions are medical need, asset,
and income. Medicaid is not the same as Medicare, which most seniors have
and assume will cover the costs of their nursing home.
For more information visit QuietCare. |
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