A Connecticut nursing home planning lawyer knows that many people are concerned about the costs of nursing care as they get older. There is plenty of reason to be worried, as getting nursing care either at home or in a residential facility can be very expensive. In fact, PR Newswire recently reported on an annual cost of care survey which showcases the worryingly high costs for nursing care in Connecticut and throughout the United States.
If you want to make sure you can afford nursing home care when you need it, you should speak with a nursing home planning lawyer at Nirenstein, Horowitz & Associates as soon as possible.
Our legal team will help you to understand what your options are for protecting your nest egg, getting nursing costs covered, and making sure you get acceptable quality care. Because reports show costs are so high, getting help is essential for virtually all seniors.
Report Shows Projected Nursing Home Costs in Connecticut
For thirteen years, Genworth has been conducting a Cost of Care study to assess how the costs of providing care for seniors have been trending. The research reveals that the costs of long-term home care services has increased nationwide, but these costs remained largely flat in Connecticut last year. Many Americans receive long-term care in the home environment, so it is good news that most people in Connecticut did not see an increase in fees for services provided in the home from 2015 to 2016.
There was more good news for Connecticut residents in the Genworth report as well. The research revealed that: “ Overall, long term care costs across all care settings in Connecticut, including home care, adult day services, assisted living and nursing facilities, are down from 2015.”
While costs are down, however, this by no means suggests that it is inexpensive to go into a nursing home or to get home care services within Connecticut. The costs for home care can total as much as $50,366 in Connecticut, according to the Genworth news release on its recent data on long-term care services. The costs of nursing homes are even more expensive than the care provided at home. The cost of care statistics for Connecticut reveal the median monthly cost for different types of services including:
- Home health aids, which have a median monthly cost of $4,195 statewide, compared to $3,861 nationwide.
- Assisted living services, which have a median monthly cost of $4,950 compared with $3,628 nationwide.
- Private nursing homes, which have a median cost of $13,383 as compared with a national median cost of $7,698 per month.
- Semi-private nursing homes, which have a median monthly cost of $12,364 in Connecticut compared with a median cost of $6,844 nationwide.
Since more than 70 percent of seniors aged 65 and up are likely to require at least some form of long-term care during their lives, doing research into these different care expenses and taking steps to help ensure you can cope with these costs is essential.
How a Connecticut Nursing Home Planning Lawyer Can Help
Although median costs of assisted living dropped 11.21 percent from 2015 to 2016, there were small increases in the costs of care for other services. For example, there was a 1.15 percent rise in state costs for private nursing home care and a 1.63 percent rise in state costs for a semi private nursing home.
Affording the costs of nursing care can be impossible for many seniors, especially since most insurance you have likely won’t pay for custodial routine care in a nursing home. In order to get nursing home bills paid, you may buy long-term care insurance. However, premiums can be costly and policies do not always pay out reliably. Trying to qualify for Medicaid and getting Medicaid to pay the bills is another alternative.
Many seniors who want Medicaid coverage for their nursing home costs are concerned about having to spend all of their assets to come below Medicaid’s resource limits for eligibility. However, there are ways a Connecticut nursing home lawyer can help you to structure ownership of assets which won’t disqualify you from Medicaid coverage.
Contact a Connecticut Nursing Home Planning Lawyer Today
A Connecticut nursing home planning lawyer can provide you with invaluable assistance in making a plan to pay for the costs of nursing care in Hartford, Westport, and surrounding areas throughout Connecticut. To find out more about the ways in which we can assist you, give us a call at 860-548-1000 or contact us online. You can also join us for a free seminar to learn about nursing home costs, nursing home care, and other issues that can become important as you age.
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