A good nursing home provides a wide variety of care and services to its residents. Not only do these facilities offer 24-hour medical care and patient assistance, but they also provide seniors with meals, housekeeping services, and a comfortable environment for them to socialize and feel at home. All of these services can quickly add up, making nursing home care one of the biggest expenses for families in later life.
Factors That Can Affect the Cost of a Nursing Home Facility
According to one study, the average cost of a nursing home in 2019 was between $90,155 and $102,200 per year—a figure that is expected to rise as more and more baby boomers hit retirement age.
The cost of your long-term care will depend on a number of factors, including:
- Location. Much like rent and housing prices, the cost of care facilities is generally higher in more desirable living locations (such as New York and New Jersey) and rises further depending on the number of staff and quality of services.
- Room requirements. The type of accommodation can affect the monthly rate of nursing home costs. For instance, a private room in a nursing home costs an average of $8,517 per month (or $284 a day), while a semi-private room costs an average of $7,513 per month (or $250 a day).
- Length of stay. While many seniors will move into a nursing home permanently, some will only require short stays in order to recuperate after an injury or illness. These services can be just as expensive as long-term stays depending on the length of rehabilitation and whether the patient needs a 24-hour nurse.
- Special services. Some facilities have all-inclusive rates, while others charge extra for services beyond meals and housing. A nursing home may have higher rates for residents who require physical therapy, speech therapy, emotional counseling, special dietary counseling, or memory care services.
While there are many ways to cover the cost of a nursing home, Medicaid benefits are by far the least expensive option. As experienced elder law and Medicaid planning attorneys, we can help you protect your loved one throughout the course of his or her life without sacrificing everything he or she worked hard to build. Call our office or contact us today through our online form to set up your initial consultation.