The Cost of Long Term Care

In today’s society, one of the most profound topics to date is healthcare and the ever rising cost thereof. Healthcare is expensive and consumers want the best possible healthcare they can get. Consumers are slosh demanding more testing, better treatment for illness and more diverse coverage from their insurance providers. Americans are looking for higher quality of life and their insurance providers and employers are trying to provide the means without raising the cost. Consumers need better education about the enormous risks of being without medical coverage and the tragic possibility of serious illness that could result in the admission to a long term care facility, hospitalization or both.
      Long term care is defined as a facility that provides rehabilitation, restorative, and/or ongoing skilled nursing care to patients or residents in need of assistance with activities of daily living. Long term care facilities include nursing homes, rehabilitation facilities, inpatient behavioral health facilities and long term chromic care hospitals. (Medicine.net) the cost of these services has certainly been on the rise over the past several years. Rates of participation and prices vary across the states. In 2006, the average number of participants was 9.59 per 1,000 U.S. populations. States use a wide range of cost containment strategies in the home and facilities utilized as long term care. Medicaid/Medicare is the main payer source for treatment and stay at any healthcare facility. It is most often used by the elderly but can be obtained and used at any age. (Medicaid/Medicare)
      The average price of a nights stay in West Virginia is $84,571 for a private room and $78,464 for a semi private. (www.Genworth.com) this price is for the whole year, but as you can see it is quite costly either way you choose to go. Contrary to popular belief, Medicare will not pay for the majority of services you will have to receive. In light of that, there are several other... [continues]

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