If you’re thinking of settling down in Wisconsin, you’re probably wondering about the cost of long-term care in the state. Every year, seniors seek long-term care in Madison due to the city’s rich culture, its overwhelming natural beauty, and for some, its world-famous food and cheese. Despite the city’s high tax rates, Madison residents are able to find affordable rates when it comes to nursing care within the city.
The number of Wisconsin seniors in nursing home care has gone down from 34,468 residents in 2004 to just 27,171 residents in 2014.
Wisconsin’s 85+ population is expected to increase between 2007 and 2030 by 59%, which will drive up the demand for long-term care.
Over 980,000 Wisconsin residents rely on Medicaid for access to affordable health services.
72% of Wisconsin Medicaid long-term care funds went to nursing care in 2009.
The cost of nursing care in Madison depends on the individual needs of each resident. The length of your stay and your personal care requirements will factor into the overall price you pay for nursing care. Madison is home to dozens of different nursing homes offering a range of prices that are often tiered based on the needs of the resident.
Nursing care in Madison is generally a little bit more expensive than similar care in the rest of the United States. In 2015, the median monthly cost for a semi-private room in Madison was $7,239 as opposed to the national median price of $6,692. A completely private room in Madison cost residents a median monthly rate of $7,916, while the national median price for a private room was $7,604.
Nursing homes offer a high level of care and supervision for those who can’t live safely on their own. This includes both short-term rehabilitative residents and long-term residents that need care for more permanent conditions. All nursing homes staff a registered nurse and certified nursing assistants to attend to the health and safety of residents. Many nursing homes also offer continuity of care services for patients with degenerative diseases such as Parkinson’s, Alzheimer’s, or other forms of dementia.
If you need assistance bathing, dressing and eating, nursing homes have staff on hand 24 hours a day to make sure yoru needs are met. Breakfast, lunch and dinner are served on a daily basis, and most nursing homes offer residents a variety of healthy dining options. Communal mealtimes are a great time for nursing home residents to socialize and enjoy each others’ company. Many facilities also organize community-wide recreational activities and outings.
Quality nursing care can cost upwards of several thousand dollars each month, and most seniors find it difficult to pay this price out-of-pocket. Many Madison homeowners choose to sell their house to help pay for care costs, especially if they are moving permanently into a nursing facility. Seniors with a loved one still living at home can take out a reverse mortgage to help pay for nursing home care. A reverse mortgage allows you to keep your house with no monthly mortgage and provides extra money to spend on nursing care. Once you and your spouse or partner have permanently left the house, however, it falls into the ownership of the lender. If you wish to keep the house for friends or family to inherit, you may instead wish to help pay for nursing care by cashing out a life insurance policy.
Seniors with long-term care insurance may be able to pay for nursing care through policy payouts. Traditional private insurance, HMOs and Medicare don’t usually pay a significant amount towards long-term nursing care, but long-term care insurance policies cover both the health and personal needs of patients in nursing homes. If you have long-term care insurance, you should make sure you understand what your plan will cover in the event that you move into a nursing home.
The Wisconsin Medicaid program helps low-income Madison residents to afford quality health care. Seniors that can’t afford the long-term care that they need may be eligible to receive state Medicaid benefits to help pay for nursing services. Veterans that need financial assistance can apply for the VA Aid & Attendance pension, which helps veterans and their wives pay for long-term care expenses. To learn more, Madison residents can contact the Milwaukee VA regional benefit office.
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