Knowing the costs of different types of long term care, whether the care is provided at home or in a facility, can help you plan for these expenses. Genworth just released their annual report on long term care costs (see the link below) For Indiana, it shows costs of $3,528 for an Assisted Living Facility, $6,388 for a Semi-Private room in a nursing home, and $7,665 for a Private Room. The interactive map shows you average rates throughout Indiana and the United States.
While the report provides great information, there are a few things to be aware of when considering costs, as the cost of long-term can be affected by certain factors, such as:
- Time of day. Home health and home care services, provided in two-to-four-hour blocks of time referred to as “visits,” are generally more expensive in the evening, on weekends, and on holidays;
- Extra charges for services provided beyond the basic room, food and housekeeping charges at facilities, although some may have “all inclusive” fees;
- Variable rates in some community programs, such as adult day service, are provided at a per-day rate, but can be more based on extra events and activities
Medicare and Medicaid, may help pay for some long-term care services under certain circumstances. However, each program has specific rules about what services are covered, how long you can receive benefits, whether or not you qualify for benefits, and how much you have to pay in out-of-pocket costs. To accurately plan for your long-term care needs, it is very important to know the facts about what may or may not be covered, and to stay current on program changes.
If you are wondering what costs your family might face should you need long term care, schedule your Medicaid assessment today to find out. Call us at 260-969-1177 or email [email protected]
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