Posted on 04/11/2013 4:41:11 AM PDT by SoFloFreeper
According to Genworth, an insurance company that deals with long term care, a year in a private nursing home has jumped 24 percent over the past five years.
The average price is nearly $84,000 a year –up from $60,000....
The company's vice president said insurance, food, building maintenance and labor costs are all going up and being passed onto the customer.
(Excerpt) Read more at m.kplctv.com ...
I saw that here a few years ago before there was an O care bill. A nursing home here in Maryland charging $6K per month ~ 2009 about $72K per year much comes from medicaid.
And at that they are still (appear to be) under-staffed compared to their patients needs.
You dont want to live to be in one of those places.
4.4% per year inflation in nursing home costs? Not to worry. The goverment assures me the ‘core’ inflation is 2% per year. Besides, my money market funds are paying me 0.5%. I’ve got it covered.
“You don’t want to live to be in one of those places.”
Absolutely. In my case it is good to know, based on the family’s health history, that I will very likely die of a heart attack. I certainly don’t wish to spend my last years or months in a nursing home.
I don't think they get many volunteers! ;-)
when I was a young adult my dad died suddenly of a heart attack before he reached 60. It was a shock to have him just disappear like that.
But over the years I have seen older relatives live to 90s and one over 100 and it is painful to slowly watch them fall apart physically and mentally and them having to depend on someone to do everything for them(24-7) , much like a 6 month year old.
And if they join others in a nursing home they are ignored and mistreated until they die (while keeping you alive with new drugs) or an alternative is found. And unless you have nothing in which case medicaid pays it will cost a fortune a problem or married couples. $6K per month goes through house equity very fast.
Just imagine the costs once the SEIU gets done with them.
Most patients in Nursing Homes are on Medicaid. I realize some are not but that is rare at least in Arkansas. Medicaid pays the NH 1,300 a month. That is it. That other figure takes in the cost of Private paying patients.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.