By Allyson Fion | July 1, 2021
To best understand how to plan for long term care for seniors, it helps to know what exactly long term care is. There are many long term care options for the elderly, and unfortunately, they are all expensive. However, the benefits of long term care facilities can make a huge difference in a senior’s life. In order to reap the benefits of long term care, you’ll want to begin your planning early. Let’s begin by looking at some of the different types of long term care facilities.
Independent Living
Independent living offers the lowest level of assistance on the continuum of care spectrum. Independent living is for seniors who do not need assistance with Activities of Daily Living (ADLs), but who may need occasional help with Instrumental Activities of Daily Living (IADLs) such as shopping, housekeeping, accounting (money management), food preparation, telephoning, and transportation. Independent living facilities are usually best suited for self-sufficient seniors in good health who utilize the services provided by the facility to reduce their daily responsibilities without hampering their independence.
Assisted Living
Assisted living facilities are residential facilities for seniors who need assistance with Activities of Daily Living (ADLs). If you or your loved one is struggling to complete one or more of these ADLs, an assisted living facility may be the right choice:
- Grooming/personal hygiene
- Dressing
- Toileting/continence
- Walking/getting in and out of chairs and bed
- Eating
If you or your loved one is having trouble consistently bathing or showering, getting dressed, using the bathroom, moving around the house, or eating, an assisted living facility may be the right choice. However, most assisted living facilities do not provide medical care, and this is an important distinction. For medical care, you or your loved one may need skilled care or a skilled nursing facility.
Skilled Care/Skilled Nursing
Skilled care is the next step up above assisted living. Where assisted living facilities provide assistance with completion of ADLs, skilled care facilities provide round the clock assistance for both ADLs and healthcare and medical treatment such as rehabilitation and nursing care. The biggest difference between skilled care and skilled nursing is the credentials of the staff. At a skilled care facility, patient management is typically overseen by licensed practical nurses (LPNs) and licensed vocational nurses (LVNs). At skilled nursing facilities, patient management is provided by registered nurses (RNs), who can provide hand-on care such as administering IVs, tube feeding, and other medical care.
Memory Care
Memory care is care specific to dementia related diseases, such as Alzheimer’s. This type of care provides round the clock, specialized care for seniors with memory issues. While some assisted living facilities and skilled nursing facilities have their own memory care units, there are also stand-alone specialized memory care facilities. Like assisted living facilities, memory care facilities provide assistance with ADLs, but also are specially trained to handle the issues specific to memory-related diseases.
As you are reading through these different types of care facilities, you may find that you’re not sure exactly where a loved one fits. If so, you can reach out to a physician to perform a level of care assessment. Not only is this assessment helpful in understanding what level of care your loved one needs, but it is also required by care facilities prior to admission.
So now that you understand the types of long term care facilities out there, and the benefits of these long term care facilities, now comes the importation question. How much do they cost?
Care Cost
Independent living facilities can cost generally anywhere from $1500-$6,000 a month. Assisted living facility costs come in around $4,000 a month. Skilled nursing facilities can cost you, on average, between $4,258 and $23,451 a month depending on location and the level of privacy you want such as a shared room or private room. Lastly, memory care will fall somewhere along the line of assisted living and skilled nursing facility costs, depending on the facility and the patient’s need.
Now, while you may be balking at these prices, you may also be thinking that you have nothing to worry about because Medicare will cover the cost of these facilities, right? Unfortunately, that’s not the case. Medicare does not cover long term care, with one exception. Medicare will cover up to 100 days in a Skilled Nursing Facility (SNF). Most often, this comes into play when a senior has an unexpected event that requires a hospital stay–such as a fall, stroke, or similar medical event.
Once released from the hospital, the senior will be sent to a Skilled Nursing Facility for rehabilitation services. When the senior is admitted to the SNF, the clock begins ticking. Medicare will typically pay 100% of the costs for the first 20 days. After that, the family must pay a co-pay, that is generally around $185/day in North Carolina.
Unfortunately, Medicare will often say the patient has improved all that they can after 20 days of rehab, and they will drop the patient from coverage, rather than continuing to pay from day 21 to day 100. After care will no longer be covered by Medicare, you will have to private pay for continued care at a long term care facility.
As you now know, the costs are exorbitant, and private paying for these facilities will quickly drain a senior’s life savings and any assets they have accumulated. This is where long term care planning comes into play.
Advance Planning
Creating a long term care plan, or advance plan, with eldercare planning professionals, gives you flexibility to make the choices that are best for you or your loved one. Advance long term care planning will help you ensure that your finances and assets, legal needs, and care needs are all accounted for and in place before a crisis event forces your hand.
This advanced care planning can prepare you for qualifying for federal assistance programs such as Medicaid, protect your assets through legal planning, and ensure you understand the care options available to you. Even if you or your loved ones are in good health and won’t be needing long term care anytime soon, it’s never too early to begin the process of protecting yourself, your loved ones, and your future.
References:
https://www.elmcroft.com/living-options/independent-living/how-much-does-independent-living-cost
https://www.seniorliving.org/skilled-nursing/cost/
336-934-5334
info@parkereldercare.com