Posted on 04/10/2015 4:23:36 PM PDT by TurboZamboni
NEW YORK, NY - The cost of caring for the elderly continues to climb. An industry survey says the median bill for a private room in a nursing home is now $91,000 a year. The report says the cost has increased four percent every year over the last five years.
The annual "Cost of Care" report comes from the insurance company Gemworth Financial, which sells policies to cover long-term care. It's a growing financial burden for families, governments and insurers.
The head of long-term services at the National Council on Aging, Joe Caldwell, says, "Most people don't realize how expensive this care can be until a parent or family member needs it."
(Excerpt) Read more at keloland.com ...
What they don’t loot from the bed ridden Americans still breathing, they’ll seize what’s left in assets right after they stop breathing.
It’s become a massive big time industry for government and insurance companies.
Actually, $91,000 per year for a private room sounds a little low to me. I think the cost in my area would be over $100,000 for a bed in a room with three people. I know how much we paid for my mom’s care 16 years ago.
anything involving 3rd party payments from a gubermint agency and your begging for fraud,waste,abuse and overcharging.
Keep in mind this is a for a single room. Most have a roommate which is less then half the costs. Scary BS article.
My mother-in-law is paying this amount for a semi-private in WY. We did some digging. For the indigent, Medicaid pays 70%, so the full pay customers take up the slack. It’s like a stealth tax and no one will fess up to what % the paying patients cover.
What a drag it is getting old.
It was 60,000 a year in the SF Bay Area 10-15 years ago.
Secondly, funding this is a matter of priority. What's more important? Human lives, or those stupid obomaphones? What's more important, human lives or some juicy Lucie's monthly abortion appointment?
Mick Jagger agrees.
Yes. But what many families also do is find every way possible to ditch assets so their parents become wards of the state. That is VERY VERY common.
No problem, when the insurance money runs out, they get the elderly to sign over their real-estate, assets, cars etc.
In time, the majority of Americans won’t be able to afford that top shelf medical insurance which will care for them for years in one of these death warehouses.
They’ll simply hire Filipino nurses to baby sit them until death, and then various mega insurance kingpins will seize what’s left of their assets.
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And if Medicaid pays for it, when the person dies the gov’t gets all their assets.
Yep.
The higher those costs go and the poorer the average American gets, the more the 0bamacare death panelists will be working overtime until the entire baby boom generation is finished. But I guess that’s the plan.
Thanks Congress; thanks Justice Roberts.
Unfortunately, I have relatives who went to a dying cousin’s home and started to literally take his things before he died. I have only talked to one person from that family since that time, and then, only once. I was made sick to think of it.
> And if Medicaid pays for it, when the person dies the gov’t gets all their assets.
As well it should. No free rides allowed.
If you have a few hundred thousand in savings when you go into the skilled nursing facility you will probably die broke, just like the illegal alien in the bed next to you.
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