What happens when hospitals become overcrowded? The architects of our healthcare system develop plans to move these people into more permanent facilities. This means nursing homes populations will continue to grow. As the nursing home census grows, so will the cost associated with nursing home care. An estimated 40 million Americans lack the funds to secure healthcare. Regardless of whether funds are available, nursing home costs are one healthcare item that most consumers find restrictive. Nursing homes costs continue to be a challenge.
Benefits
Having long-term care insurance guarantees that some of the costs associated with nursing home care are covered. The purpose of long-term care insurance is to pay for services that occur outside of acute care facilities. Nursing home and home healthcare patients with good long term care insurance have little out of pocket expense. Medigap or Medicare Supplemental Plans also cover the cost of nursing home care. The patient has to be a Medicare beneficiary who has been on Medicare for at least six months to take advantage of the service.
Significance
Nursing homes provide long-term care for patients who are stable in their health, but no longer able to perform daily living activities independently. Many elderly patients who have had falls become dependent on others after hip replacement surgery. Rehab can only allow some patients the independence needed to eventually leave a nursing home. Nursing homes allow health providers to serve a large group of patients with limited staff.
Warning
Nursing home costs vary by facility, but on average cost near $40,000 a year for the average patient. This puts many nursing homes in a precarious predicament. They lack the resources needed to provide quality care to all patients, however they cannot abandon patients with financial strains. Often these facilities will have to limit resources to dangerously low levels to provide care for all patients.
Misconceptions
In most cases, insurance doesn't cover the cost of all nursing home care. Patients without Medicare are not eligible for the Medicare benefit or Medigap insurance. Medicaid, in many cases, is considered a last resort for many patients. This means that personal income and assets are used in many cases to cover the cost of nursing home care. Many nursing home patients and their families become destitute trying to cover these costs.
Geography
Medicaid is a state administered insurance program. This means that the benefit that covers the cost of nursing home care varies in level of coverage from state to state. Often coverage for nursing home care comes down to lobbyists in a particular state who have a personal interest in expanding the benefit.
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