If you or a loved one have to enter a nursing home in the near future, you might be concerned with how much it’s going to cost. Long-term care is generally an expensive venture and many people don’t think that they can afford it. It’s true that the numbers are high, but it’s also true that in St. Louis nursing homes and long-term care might be more affordable than you think.
Of the 1.4 million Americans living in nursing homes, 38,409 reside in Missouri.
89% of Missouri residents want to stay in their home as long as possible and about 590,000 people in Missouri are providing in-home care to a family member.
By the year 2030, the number of citizens in Missouri 85+ will grow by 48%.
Missouri has one of the lowest daily rates for nursing homes in the country.
First, let’s take a look at the national average cost of nursing homes in the U.S. compared to St. Louis. The national average for a semi-private room in 2015 was $80,300, and a private room averaged at about $91,250. The average here in St. Louis for a semi-private room in 2015 was $60,225, and a private room was about $69,350.
Those numbers are well below the national average and a semi-private room works out to about $165 per day. There is also a wide range of prices within the St. Louis area and the surrounding neighborhoods, so you can easily find a nursing home that fits your needs and budget.
You might wonder exactly what happens in a nursing home and if they can offer everything you need. The biggest component of a nursing home is the medical staff that is always on call. This team of nurses, nursing aides, therapists, and doctors is always nearby and can handle any emergency that may occur. They can also take care of any pre-existing conditions as well as handle medications, therapy, wound care, and general health.
You can also find specialized nursing homes that have highly trained professionals in one area of health, such as dementia or Alzheimer’s. They can make sure you receive the exact care you need in addition to any other medical problems. Nursing home staff is also used to dealing with patients near the end of their life and can provide hospice care to the patients and their family. Other basic services include specialized meal plans to make sure residents stay healthy, exercise to keep them strong and mobile, and mental health screenings to make sure they are happy as well.
Aside from the medical realm of a nursing home, these places are also where residents live and spend the majority of their time. So, there is great care taken in making sure the residents enjoy their time. Activities directors will schedule numerous entertainment events throughout the week such as theme dinners, movie nights, bingo or poker, and even take able residents out on field trips.
The best way to find a facility that works for you is to create a list of what you need and then start visiting nursing homes in the area. Don’t be afraid to ask questions and ask to see the state inspection report. Homes are required to show you this report and answer any questions about deficiencies that might be shown.
It’s also a good idea to spend some time interacting with the staff and talking to current residents. Take a tour of the living area and eat a meal with the residents, so you can get a feel for your possible new home.
Now for the answer to the question on most people’s minds is “how am I going to pay for this?” There are programs and options in place that can help make long-term care affordable for anyone. A great place to start is with the Life Care Funding Group as these individuals can help you go over all of your choices.
If you have a long-term care insurance policy, call your agent and find out what is covered. If you don’t have this type of insurance coverage, you might qualify for Medicaid. Veterans can contact their local office to see if their VA benefits will cover nursing homes or to check if there is a dedicated nursing home in your area for veterans.
If none of these options work, you can look into selling your house or renting it out and use that money to cover your costs. You can also talk to a financial advisor about a reverse mortgage or cashing out a life insurance policy to see if these options will work for you.
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