Saturday, July 26, 2008
More statistics on nursing home, assisted living costs
Today I’ve collected a few more references on the costs of nursing homes and assisted living, and how people pay for them.
Medicare itself has a major web page called “Nursing Homes: Paying for Care” link here. “To be covered, you must receive the services from a Medicare certified skilled nursing home after a qualifying hospital stay. A qualifying hospital stay is the amount of time spent in a hospital just prior to entering a nursing home.”
In 2004, Consumer Affairs reported that the average cost of nursing home care had reached $70000 a year, ranging from almost $205000 a year in Alaska to $36000 in Shreveport, LA. (Link).
A site that gives comparative costs of Home Health, Assisted Living, and Nursing Home costs by state is a Long Term Care Insurance Planners site with data as of the end of 2003. It’s probably wise to increase the numbers by 10-15% to get to the numbers today. The website quotes $16.30 for an hourly rate for home health, and now in 2008 it is typically $18. In 2003, a typical nursing home in Alexandria, VA cost $57000 a year, and assisted living about $37000. In Cleveland, Ohio typical rates were $56000 and $29000.
As covered earlier on this blog, long term care insurance is tricky. Often a claim is not payable until the patent demonstrates at least two symptoms of incapacity.