Displaying items by tag: Costs

The Cost Of Nursing Homes and At-Home Care Goes Up Nationwide

A survey released by Genworth Financial Inc., showed that the cost for senior care continues to rise across the country. Costs were up an average of 3 percent from 2017 to 2018, with some care categories exceeding the United States inflation rate by two to three times.

The company Genworth, which released the survey, sells long-term insurance and has been publishing its care related survey for 15 years. According to Gordon Saunders the senior brand marketing manager for Genworth ““It is a benchmark to understand, as I age or as a family member ages, wha I can expect the cost is going to be.”

The availability of the type of workers to work in these settings is making it challenging - Gordon Saunders, Genworth Financial Inc.

One example of the pressure on the affordability of  senior care was in Virginia, where costs rose from 2017 to 2018 for homemaker services, home health aides, adult day care and nursing home care. The largest increase was for a private room in a nursing home facility, which rose nearly 7.7 percent in Virginia to a median annual cost of $102,200.

Nationally, costs for a private room in a nursing home rose 3 percent to $100,375.

Other Cost Increases For Long-Term Senior Care

  • The cost of Assisted Living Facilities rose by almost 6.7 percent from 20117 to 2018, to a median cost of $48,000 per year.
  • The costs for home health aides saw an increase of 2.3 percent to $50,336 annually nationwide.
  • The cost of adult day care services rose 2.8 percent nationally to $18,720 per year on average.

According to Gordon Saunders, one of the many reasons for the increase in the cost of long-term senior care is the ability of businesses to obtain qualified staff. “The availability of the type of workers to work in these settings is making it challenging,” he said.

And as the demand for senior care services continues to increase in the U.S. and worldwide for that matter, it can be expected that the cost of such services will continue to increase as well.

Genworth reports that its data was obtained from surveying about 49,000 long-term care providers nationwide.

wide variety of senior care options med

 

How Can We Afford Long-Term Senior Care?

One well reviewed and highly respected option for long-term senior care is becoming more and more available. That type of care is know, as Adult Foster Care, Senior Board and Care and other names depending upon what state you may reside in. With thousands of such homes now available throughout the U.S., many families are taking advantage of this type of senior long term care facility. Most states have licensing and staffing requirements, and these homes are an excellent alternative to nursing homes, often able to provide compatible care in a small homelike environment, and ad a much more affordable cost.

Please use our site to find such home near you and your family. And use our Help Sections to ask questions and get assistance. You will be glad you did.

 

Three People Accused in Massive Medicare Fraud in Florida

The U.S. Justice Department is calling it the largest criminal health care fraud case ever brought against individual suspects. The $1 Billion health care fraud took advantage of Medicare in Florida, agents said.

Three people are accused of a massive fraud involving a number of Miami-based health care providers. Many assisted living facilities may also have been part of the health care fraud.

The three facing charges are all from Florida's Miami-Dade County; they are Philip Esformes, 47, owner of more than 30 Miami-area nursing and assisted living facilities; hospital administrator Odette Barcha, 49; and physician assistant Arnaldo Carmouze, 56, according to the Justice Department .

"Medicare fraud has infected every facet of our health care system," U.S. Attorney Wifredo Ferrer said Friday while indictments against the three were announced.

Included in the indictments are accusations of leading "a complex and profitable health care fraud scheme that resulted in staggering losses, in excess of $1 billion," said Special Agent in Charge George L. Piro of the FBI's Miami field office.

Community Mental Health Centers and Home Health Care Providers Received Payments

Investigators say Esformes access to thousands of Medicare and Medicaid beneficiaries were instrumental to perpetrate the fraud. How this will affect the future of Florida Medicare remains to be seen.

It was also announced that money, in the form of kickbacks, were paid to Esformes and his co-conspirators in return for "steering beneficiaries to other health care providers including community mental health centers and home health care providers, who also performed medically unnecessary treatments that were billed to Medicare and Medicaid."

"Many of these beneficiaries did not qualify for skilled nursing home care or for placement in an assisted living facility. However Esformes and his co-conspirators nevertheless admitted them to Esformes Network facilities where the beneficiaries received medically unnecessary services that were billed to Medicare and Medicaid."

Charges of conspiracy, money laundering and health care fraud against Esformes and Barcha were also included in the announcement.

The Cost Of Assisted Living And Senior Care

If you would like to know how much the different types of long term senior living costs you can be assured there is much information available.

According to one U.S. government source, the average cost of long term senior care and assisted living ranges from about $36,000 to around $72,000 per year. And in some cases the average can be over $250,000 per year. The average monthly cost of adult foster care and small senior homes in the U.S. is somewhat lower, roughly $2,500 a month to about $4,500 per month.  If you think that is a wide difference you are correct. Why such a big difference?

That’s easy to answer. It is because there are 50 states in the U.S. and probably about 100 different Kinds of Long Term Care, or senior homes and senior living, depending on the state. Each of those different kinds of senior living has a different cost associated with it. That’s right, the kind of care and where it takes place makes a big difference in the yearly, and of course monthly cost.

 

'The national median monthly rate for a one-bedroom unit in an assisted living facility is $4,300 per month’ according to the latest Cost of Care Survey released by Genworth Financial Inc. of Richmond, Virginia. That's $51,600 per year, an increase of about 50 percent over the year 2013.

And so the key to finding out ‘What is the Cost of Senior Home Living’ to you and your loved one is to have a good resource to help you. You will want to do the following:

 

1.   Identify the kind of Senior Home you are in need of.

2.   Determine which of those homes can provide the kind of care required.

3.   Locate homes that fit and are close and convenient to you and your family.

 

Once you have that information, you will have a good idea of the Cost of Senior Home Living for you and your loved one.

 

Best source for senior care and assisted living costs

 

What Are The Best Sources To Find What Senior Living Costs?

Senior Home Search is one of the Best Sources for helping you get this information. We offer information on thousands of small to medium sized Senior Care Homes across the U.S. in an easy to use format. Homes that are many times family owned and operated, fully state licensed, professionally staffed and very importantly, offer a family like home atmosphere.

There are literally dozens and dozens of web sites with “calculators” to get costs – and your name and phone number. There are web sites that pressure you to call an “800” number to talk to a sales person. But really, the best way is to use Senior Home Search to help you collect the information you need without the hassle. Contact Senior Care Home owners directly to find out what the Cost of Senior Home Living and Assisted Living really is.

 

Forms To Help You Search For The Best Senior Living

Using a Checklist when looking online or when visiting a home in person is important. A Checklist will help you ask all the right questions and get all the answers you need to make an informed decision.

Senior Home Search has put together a checklist for you to use. Have it with you when calling and visiting each home you are considering. It is very comprehensive and we hope you find it helpful.

There may be things on the list you did not think of and this will help you in your search. You can print out as many copies as you need to take with you when visiting each home. Get your copy now.

 

 

 

Find Senior Homes and Assisted Living Near You. Contact Homes Direct, No Middle Man

We list only small to medium sized Senior Living Homes. Adult Foster Care Homes, Board and Care Homes in each state.

  • We charge nothing to use this site to search for a home for you or a loved one.
  • We provide you with each Home Owner’s full Phone Number and Address.
  • Each listing provides a convenient Contact Form you may fill out which is sent for a quick response to your questions.
  • Each listing can be printed out or shared by email to assist you in your search.

 

 

 

Sources:

Long Term Care .gov

How Much Care Will You need - Long Term Care .gov

Cost of Care Survey - Genworth