How to Pay for the Cost of Nursing Homes in HoustonBy Troy Diffenderfer - Troy Diffenderfer has been covering the senior care industry and working with healthcare professionals over the last 8 years. He's produced content for websites like www.AllPhysicianJobs.com and www.SeniorCaring.com and prides himself on writing articles that are both informative and entertaining. In his freetime he enjoys reading, writing, and watching horror movies.
It’s time to start thinking about paying for the cost of nursing homes in Houston. While it’s comforting to think that you’ll be one of the people who lives in their own home until the day they die, the reality is nearly 70 percent of today’s 65-year-olds will need long-term care at some point, according to the U.S. Department of Health and Human Services. Sadly, many seniors struggle to finance the transition into a senior living community and are left without the care that they need. The cost can financially cripple a family, but there are a few crucial options to explore so you can pay for skilled Houston nursing and rehab costs and enjoy the next chapter of your life. Below are just a few options worth considering when you’re figuring out how to pay the high cost of Houston nursing care.
How To Pay Nursing Care Costs
While this key government program is not designed for those seeking long-term care, there are special cases where this government program can help provide financial compensation for seniors. This program, for those age 65+, is mainly for seniors who need rehabilitation for an injury or illness or need specific, skilled nursing care. As such, Medicare will pay for twenty days of care at 100% of the cost. For the eighty
days following, the program will pay 80% of the cost. For those who subscribe to Medicare Supplemental Insurance plan, the secondary insurance will pay the remaining 20% of the cost for the last eighty days of coverage. Neither Medicare nor private Advantage Plan Supplemental Insurance will pay for nursing home care after the 100-day maximum is reached. A minor exception to this rule exists, when the nursing facility doubles as a psychiatric hospital and the individual is in residence for a psychiatric condition. In this situation, Medicare increases assistance for up to 190 days. In any case, this can be a great way to pay for the nursing homes in Houston costs for short term during the senior’s rehabilitation. Click to learn how to navigate rehab after a hospital stay.
Medicaid will be one of the main sources of financial support as you begin searching for the ways to pay for nursing care costs. You will most likely apply for Medicaid through the state you live in, so the amount rewarded and benefits offered may vary from state to state. However, it is safe to say that Medicaid pays at least 40% of the total nursing home costs in the United States. While on the surface, this may sound encouraging for families whose loved one requires nursing care, it is important to be aware that Medicaid is a means-tested program, meaning that the applicant's income and financial assets are closely analyzed prior to acceptance into the program. Persons must meet strict financial guidelines in order to qualify. However, should an individual qualify, Medicaid will pay for 100% of their nursing home costs at a Medicaid approved skilled nursing facility. Regardless of whether or not you think that you qualify, be sure to complete the application process just in case. Medicaid can help ensure that you’re able to pay for the quality care that you deserve.
Long-Term Care Insurance
Another way to pay for nursing costs that many seniors forget about is long-term care insurance. This type of private insurance can help offset the cost of a traditional nursing community. Long-term care insurance can vary widely. Some policies may cover only nursing home care. Others may include coverage for a whole range of services, like adult day care, assisted living, medical equipment, and informal home care. It’s also important to check and make sure that your eligibility isn’t limited by a preexisting condition. Long-term care insurance is yet another great way to ensure that you’re able to get into a skilled nursing facility without putting your finances in jeopardy.
These are just a few ways that you might be able to pay for nursing homes in Houston costs. With a little persistence and research, you’ll be enjoying retirement in no time.
To learn more about options and about Treemont Health Care Center, please call Kelli Walleck LeLacheur at (713) 816-2033 or via KelliW@TreemonttHC.com. Treemont is in the Memorial area at 2501 Westerland Drive.