Unlike other places in Tennessee, the cost of living in Memphis is less than the national average. However, this does not mean that the cost of nursing home care is extremely affordable. In fact, the opposite is true. The cost for a nursing home in Memphis is still excessive for some people, which can put a strain on their finances, as well as their family. Being prepared for this cost is the best way to minimize the sticker shock that is often present when researching nursing home care.
There is a total of 43 nursing homes in the metropolitan area of Memphis.
Each day 100,000 people across the nation turn 65.
There are 78 million baby boomers across the nation that make up 26 percent of the population. These individuals are reaching the 65-year mark, increasing the need for quality nursing home care.
By 2050, there will be more elderly people in the world than young people.
Tennessee is ranked 38th in regard to the cost of nursing home care in the U.S.
In Memphis, the average cost per day for a semi-private room in a nursing home is $173, and for a private room $191. This is lower than both the state and national average related to the cost of care. The projected yearly costs for a semi-private room is around $66,000 and for a private room around $73,365.
The typical resident in a nursing home requires help with a number of different activities of daily living. This includes getting into and out of bed, eating, using the bathroom, and grooming and hygiene activities. There are some nursing home residents who also have medical issues that have to be seen too, such as chronic diseases or strokes.
People with cognitive disabilities, such as dementia or Alzheimer’s disease may also require nursing home care. Modern nursing homes offer services for both short-term and long-term needs.
Proving more than anticipated
There are some residents of nursing homes that require more than just help with activities of daily living. This is why many nursing homes go above and beyond in regard to the care and types of services that are offered. In addition to basic care and nutrition, nursing homes also provide social activities, physical and occupational therapy, transportation and more. This makes living in this type of facility pleasurable for the resident.
Finding the best nursing home
When you begin your search for a nursing home in Memphis, there are a number of factors that have to be considered. The cost of the facility is a major concern; however, other aspects such as quality of care and social activities provided are also important. It is essential for families searching for a nursing home to consider the factors here to ensure they find the best possible location for their aging loved ones.
There is no question that the cost of nursing home care can be high. This number gets higher as a person’s needs increase. As a result, many people need assistance in covering this cost. Many people have to pay for care themselves, by using bank accounts, stocks, and other assets. However, Medicaid is also a payment option.
Medicare will usually not cover nursing home care. It also is not covered by most types of health insurance. However, this coverage should not be dropped, since you will still likely need medical care while in the nursing home.
One option for help paying for nursing home care is Medicaid. This pays for care in approximately seven out of every 10 residents. This is a joint state and federal program that pays for nursing home care. A person has to meet the financial and medical requirements to get this coverage.
Nursing home care can also be paid by long-term care insurance. This type of coverage can vary greatly. There are some policies that may only cover nursing home care while others provide a range of services, such as home care, medical equipment, assisted living, etc.
Federal employees and members of the military may also be eligible for Veteran’s benefits. This is all subject to meeting certain requirements in regard to finances and medical need. In many cases, speaking with the nursing home representative will help ensure that the available help is sought and used.
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