There may be a multitude of reasons why a family might not want to see one of its eldest members placed in a nursing home. First of all, even before we get to other people’s wishes, individuals who stand to become long-term residents may simply not want to live in such a facility, although part of this may be an overestimation of their ability to live alone and take care of themselves.
When the views of the rest of the clan are considered, then, they may serve to echo the concerns of those whose location hangs in the balance. Then again, a family’s objections to life in a nursing home may be more practical in nature. A prime example is that when it comes to care of loved ones within a nursing home, cost is a serious issue. Below are some notes on nursing home costs that may quickly add up for families of residents:
In terms of the average overall nursing home cost, this news may hit hard straight upfront. Without any benefits, nursing home costs in a majority of states easily total over $50,000 per year, and in some cases, they can approach or exceed $100,000 annually. These kinds of numbers put most student loan tallies to shame, so to speak, so for those families who already are sweating the need to finance a child’s college education, the overall nursing home cost may be far too high.
Of course, several factors influence how wide the range of nursing home costs may be and just how affordable or out of reach they might be. Location, as alluded to earlier, may make a substantial difference. For instance, yearly costs in the sparsely-populated state of Wyoming tend to add up to a number between $50,000 and $60,000, whereas the average price tag for nursing facility care in New Jersey—a densely-populated state in the New York tri-state area—is near $100,000. Facility size and specialty services may also profoundly elevate monthly fees.
It is hard to separate one nursing home cost from the rest of the pack in assessing fees. Some factors in the tens and hundreds of thousands of dollars potentially on the bill are likely to loom larger than others. Certainly, the costs of room and board and the monies which contribute to the hourly wages of nurses, nursing assistants and other staff members are significant aspects of the overall cost.
That said, some nursing home costs may take people by surprise unless they create a budget or provide those services independently. For instance, many facilities will charge for the use of a private telephone line in one’s room, and haircuts, even if administered only once a month, are still apt to be over $100 or $150 per year.
To assist families in meeting the expenses behind care of their loved ones in skilled nursing facilities, Medicare and Medicaid, among other benefits, can be used to defray some of the overall nursing home cost that these people face. Nonetheless, it should be noted that these Social Security program benefits will usually only cover a portion of the numerous nursing home costs that stand to be incurred, and for a limited amount of time at that – meaning most of the price will need to be compensated out of pocket.
In need-based cases, people who are almost totally reliant on public assistance may be able to find a room in a facility, but these opportunities are few and far between, as most beds will be reserved for paying customers.