Planning for the Golden Years: Different Types of Long-Term Care
When planning for the future, many are unsure of how they are going to pay for services especially with the continual rise of health care costs. The fact is, 70% of people over the age of 65 will need any average of 3 years of long-term care and an even higher percentage will need it at some point, for a shorter period of time. But before you consider prices, it’s important to get a plan ready. One of the ways to do that is researching long term care options and figuring out which option is best for you. From there, plans for paying, living, etc. can begin. If you’re not familiar with the different types of long-term care, keep reading!
Assisted Living
Assisted living facilities provide many of the same entertainment and community features that independent living offers, but they also offer additional assistance. They usually have on-site staff to help with transfers, showers, medication administration, etc. Residents are expected to live a primarily independent lifestyle in exception to the above-listed services provided. If care-needs increase, transfers to a nursing home or to home for more one-on-one care may be recommended. The median price for assisted living is around $4,100 a month according to Genworth.com.
Home Care
Home care deals with a wide range of scenarios. In-home caregivers can provide anything from one-hour light housekeeping to full on twenty-four-hour care including assistance with showering, meals, med reminders, dressing, transportation, etc. Schedules are customized individually with each client based on how many hours they need, what time(s) of the day, what services will be provided, and how often. You can also receive nursing services and hospice care at home. Home care services has a median cost is $4,300 a month according to Genworth.com.
Nursing Home
Nursing homes are often chosen for elderly who need assistance with personal cares, daily activities and nursing care. The majority of the staff are often Certified Nursing Assistants (CNAs) and help with bathing, transfers, dressing, etc. The services provided in a nursing home are similar to in-home care, but in addition to CNAs nursing homes also have nurses around the clock. The median cost for nursing home care is around $7,500 (semi-private room) and $8,500 (private room) a month according to Genworth.com.
No matter which you feel is right for you, we can help! We offer care management services which are meant to help you find the right type of long-term care. We can give you information on any agency or facility you’re interested in and set up tours and meetings to make sure it’s exactly what’s right for you or your loved one. If you’re interested in care management or if you have any other questions, give us a call at (605) 275-2344.