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NEW YORK (AP) -- The steep cost of caring for the elderly continues to climb. The median bill for a private room in a nursing home is now $91,250 a year, according to an industry survey out Thursday.
The annual "Cost of Care" report from Genworth Financial tracks the staggering rise in expenses for long-term care, a growing financial burden for families, governments and insurers like Genworth. The cost of staying in a nursing home has increased 4 percent every year over the last five years, the report says. Last year, the median bill was $87,600.
"Most people don't realize how expensive this care can be until a parent or family member needs it," said Joe Caldwell, director of long-term services at the National Council on Aging. "And then it's a real shock."
...One year in a nursing home now costs nearly as much as three years of tuition at a private college.
Elder care costs keep climbing nursing home bill now 91K - Yahoo Finance
I wonder how many of these are offering lobster etc. on a daily basis? I wonder how many of these places have well trained and well paid staff?
I wonder who owns these facilities, what income they provide to the ownership and how much is really spent on medical treatments/care? I also wonder about the education and background of those employed on a daily basis.
I wonder who owns these facilities, what income they provide to the ownership and how much is really spent on medical treatments/care? I also wonder about the education and background of those employed on a daily basis.
I wonder who owns these facilities, what income they provide to the ownership and how much is really spent on medical treatments/care? I also wonder about the education and background of those employed on a daily basis.
Quality of care can be found on numerous websites, and anyone looking for a home for a family member should absolutely check out several in person before making such a big decision.
Finding out who owns the facilities isn't always easy. Many involve shell companies and it requires some serious digging to find the source.
I wonder who owns these facilities, what income they provide to the ownership and how much is really spent on medical treatments/care? I also wonder about the education and background of those employed on a daily basis.
Quality of care can be found on numerous websites, and anyone looking for a home for a family member should absolutely check out several in person before making such a big decision.
Finding out who owns the facilities isn't always easy. Many involve shell companies and it requires some serious digging to find the source.
Yep, the smell of human urine is a dead giveaway to runaway.
I wonder who owns these facilities, what income they provide to the ownership and how much is really spent on medical treatments/care? I also wonder about the education and background of those employed on a daily basis.
Quality of care can be found on numerous websites, and anyone looking for a home for a family member should absolutely check out several in person before making such a big decision.
Finding out who owns the facilities isn't always easy. Many involve shell companies and it requires some serious digging to find the source.
Yep, the smell of human urine is a dead giveaway to runaway.
I've never been in a home that didn't smell "bad" or "old" as my kids would call it.
There are so many dynamics that are negative....not sure why anyone would do that unless they had too.
I had to put someone in a full time care facility for a couple of months. As soon as they were able to come home....we got them home.
If your elder is in California it is vitally important that you blow their entire wealth on the first six months or so of nursing home care. Private room for sure.
That's because of the way state law works. When the wealth is gone the state is obliged to continue the standard of care for which you were paying. So if you take the most economical approach so the money will last a little longer then you're condemning your elder to minimal care for the rest of their life. When by blowing through the bucks as fast as possible you can assure them of a Cadillac care plan to the very end.
If you want to read the rules do your own research.
I'm speaking from the advice give me by California's bureaucracy when I had to deal with the situation. The lady lived to age 100 in the best of conditions thanks to that one bit of information.
If your elder is in California it is vitally important that you blow their entire wealth on the first six months or so of nursing home care. Private room for sure.
That's because of the way state law works. When the wealth is gone the state is obliged to continue the standard of care for which you were paying. So if you take the most economical approach so the money will last a little longer then you're condemning your elder to minimal care for the rest of their life. When by blowing through the bucks as fast as possible you can assure them of a Cadillac care plan to the very end.
If you want to read the rules do your own research.
I'm speaking from the advice give me by California's bureaucracy when I had to deal with the situation. The lady lived to age 100 in the best of conditions thanks to that one bit of information.
Fascinating......
If your elder is in California it is vitally important that you blow their entire wealth on the first six months or so of nursing home care. Private room for sure.
That's because of the way state law works. When the wealth is gone the state is obliged to continue the standard of care for which you were paying. So if you take the most economical approach so the money will last a little longer then you're condemning your elder to minimal care for the rest of their life. When by blowing through the bucks as fast as possible you can assure them of a Cadillac care plan to the very end.
If you want to read the rules do your own research.
I'm speaking from the advice give me by California's bureaucracy when I had to deal with the situation. The lady lived to age 100 in the best of conditions thanks to that one bit of information.
Fascinating......
Not that I have any great respect for the legal profession, but before looking for long term care see an attorney and establish a trust. It's cost may seem to be a lot - since much of the document is boiler plate - but in the long run it will save you time and money. If the need for LTC is a mental disease associated with age, be sure to do so at the first indication of cognitive dysfunction.
NEW YORK (AP) -- The steep cost of caring for the elderly continues to climb. The median bill for a private room in a nursing home is now $91,250 a year, according to an industry survey out Thursday.
The annual "Cost of Care" report from Genworth Financial tracks the staggering rise in expenses for long-term care, a growing financial burden for families, governments and insurers like Genworth. The cost of staying in a nursing home has increased 4 percent every year over the last five years, the report says. Last year, the median bill was $87,600.
"Most people don't realize how expensive this care can be until a parent or family member needs it," said Joe Caldwell, director of long-term services at the National Council on Aging. "And then it's a real shock."
...One year in a nursing home now costs nearly as much as three years of tuition at a private college.
Elder care costs keep climbing nursing home bill now 91K - Yahoo Finance
I wonder how many of these are offering lobster etc. on a daily basis? I wonder how many of these places have well trained and well paid staff?
I wonder who owns these facilities, what income they provide to the ownership and how much is really spent on medical treatments/care? I also wonder about the education and background of those employed on a daily basis.
All very good questions.
I wonder about the model itself.
I know people who run these homes who indicate that most of their residents could be cared for at home by family....if......
Alternatively, hospitals are discovering that often very serious medical conditions that affect the elderly can be treated via outpatient care, saving a great deal of money. Add that to wellness programs that encourage older people to exercise, eat properly, get regular screenings to prevent long-term illness, and it's a win-win.
Alternatively, hospitals are discovering that often very serious medical conditions that affect the elderly can be treated via outpatient care, saving a great deal of money. Add that to wellness programs that encourage older people to exercise, eat properly, get regular screenings to prevent long-term illness, and it's a win-win.
That's a part of overall things everybody should do. But those things are still not going to stop the advance of things like dementia and Alzheimer's, slip and fall injuries that lead to a need for help either in rehab or possibly in-home after rehab. Every situation is different when it comes to making those long time care decisions. And it takes dedicated people to fulfill those requirements.
Well, with our "liberated" society with so many women getting divorced, going to the poor house, and working two jobs to stay afloat....who's going to watch mommy and daddy ?
We are so freaking clever.
Marriage is an economic efficiency and this is one place it will show up.
NEW YORK (AP) -- The steep cost of caring for the elderly continues to climb. The median bill for a private room in a nursing home is now $91,250 a year, according to an industry survey out Thursday.
The annual "Cost of Care" report from Genworth Financial tracks the staggering rise in expenses for long-term care, a growing financial burden for families, governments and insurers like Genworth. The cost of staying in a nursing home has increased 4 percent every year over the last five years, the report says. Last year, the median bill was $87,600.
"Most people don't realize how expensive this care can be until a parent or family member needs it," said Joe Caldwell, director of long-term services at the National Council on Aging. "And then it's a real shock."
...One year in a nursing home now costs nearly as much as three years of tuition at a private college.
Elder care costs keep climbing nursing home bill now 91K - Yahoo Finance
I wonder how many of these are offering lobster etc. on a daily basis? I wonder how many of these places have well trained and well paid staff?
I wonder who owns these facilities, what income they provide to the ownership and how much is really spent on medical treatments/care? I also wonder about the education and background of those employed on a daily basis.
All very good questions.
I wonder about the model itself.
I know people who run these homes who indicate that most of their residents could be cared for at home by family....if......
Investigators warn of Medicaid fraud and home care abuse
This is an ongoing problem. Whether you like it or not, many of these people cannot and often should not be cared for by family. What we see repeatedly are people invested in this area that want all of the cash and none of the liability. That is what it is about and it is exactly like how the push has been for keeping the mentally ill at home.
NEW YORK (AP) -- The steep cost of caring for the elderly continues to climb. The median bill for a private room in a nursing home is now $91,250 a year, according to an industry survey out Thursday.
The annual "Cost of Care" report from Genworth Financial tracks the staggering rise in expenses for long-term care, a growing financial burden for families, governments and insurers like Genworth. The cost of staying in a nursing home has increased 4 percent every year over the last five years, the report says. Last year, the median bill was $87,600.
"Most people don't realize how expensive this care can be until a parent or family member needs it," said Joe Caldwell, director of long-term services at the National Council on Aging. "And then it's a real shock."
...One year in a nursing home now costs nearly as much as three years of tuition at a private college.
Elder care costs keep climbing nursing home bill now 91K - Yahoo Finance
I wonder how many of these are offering lobster etc. on a daily basis? I wonder how many of these places have well trained and well paid staff?
I wonder who owns these facilities, what income they provide to the ownership and how much is really spent on medical treatments/care? I also wonder about the education and background of those employed on a daily basis.
All very good questions.
I wonder about the model itself.
I know people who run these homes who indicate that most of their residents could be cared for at home by family....if......
NEW YORK (AP) -- The steep cost of caring for the elderly continues to climb. The median bill for a private room in a nursing home is now $91,250 a year, according to an industry survey out Thursday.
The annual "Cost of Care" report from Genworth Financial tracks the staggering rise in expenses for long-term care, a growing financial burden for families, governments and insurers like Genworth. The cost of staying in a nursing home has increased 4 percent every year over the last five years, the report says. Last year, the median bill was $87,600.
"Most people don't realize how expensive this care can be until a parent or family member needs it," said Joe Caldwell, director of long-term services at the National Council on Aging. "And then it's a real shock."
...One year in a nursing home now costs nearly as much as three years of tuition at a private college.
Elder care costs keep climbing nursing home bill now 91K - Yahoo Finance
I wonder how many of these are offering lobster etc. on a daily basis? I wonder how many of these places have well trained and well paid staff?
I wonder who owns these facilities, what income they provide to the ownership and how much is really spent on medical treatments/care? I also wonder about the education and background of those employed on a daily basis.
All very good questions.
I wonder about the model itself.
I know people who run these homes who indicate that most of their residents could be cared for at home by family....if......
My mom went into a private for care home for disabled seniors, the first night her wedding ring was stolen.
