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Making Long Term Care in Virginia Affordable

By Kaycee Bishop Subscribe to RSS | March 29th 2012 | Views:
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No one will argue that the cost of Virginia long term care gets higher each year and there is no silver lining in sight. In spite of this upsetting reality, every resident of the state has the opportunity to acquire long term care (LTC) at a fair price if he starts working out a plan today.

Some people think LTC is just about addressing health issues and that if only they recognize the possibility of acquiring some level of care in the future they will be all right. Unfortunately, it is not only one’s health that factors in LTC and, in fact, many individuals who did not plan it properly ended up losing their homes and other valuables.

It is not enough that you know which type of LTC facility to obtain services from. Apart from recognizing your future health care needs you also have to think of effective ways to be able to cover the cost of these needs as inflation accounts for the constantly increasing cost of care.

The rates of nursing homes, home health care agencies, and community-based LTC facilities in Virginia increase 5% each year but this is only a conservative estimate. Financial planners and elder care specialists say senior citizens who are expecting care in 2030 could pay more than $300,000 for a year’s stay in a nursing home as LTC costs are anticipated to increase fourfold.

Comparing Today’s Virginia Long Term Care Costs with Tomorrow’s

Financial advisers discourage residents from using today’s cost of care as the basis of their LTC plan as the figures go up year after year.

At present the average annual rate of a nursing home in Virginia is $77,380 but 18 years from now this rate will no longer be applicable as LTC costs would’ve quadrupled by then. Should a resident of Blacksburg require nursing home care in 2030 she could spend close to $330,000 for a year’s stay in a private room since the ongoing rate of a nursing home in this town is $82,000.

Nursing homes cost a lot of money but in-home care, which is the choice of most Virginians, is not easy on the pocket either. In-home care recipients in Richmond, VA are paying close to $23 per hour to receive assistance with their activities of daily living (ADL) from a home health aide.

These ADLs range from eating, bathing, dressing, toileting, to management of one’s continence and transferring. Should an individual be unable to perform independently any of these ADLs due to infirmity, serious illness, or disability, he or she would need LTC.

Individuals with catastrophic chronic illness are advised to move into a nursing home so that a skilled nurse and a licensed doctor can monitor them. However, if they choose to remain in their homes despite the gravity of their health issues they should consider home modification to make aging in place possible for them.

So many aging in place home contractors understand that senior citizens want to continue enjoying independent living despite the change in their health so to ensure them of this, home contractors see to it that they only use advanced equipment and materials in renovating or modifying homes.

Integration of technology into one’s home to make it suitable for aging in place is very expensive. However, if you want to retain your independence even as you receive Virginia long term care then it’s worth planning for this type of setting.

Kaycee Bishop - About Author:
We can help you shop for long term care quote from major carriers and provide you with unlimited information about CLASS act and long term care.

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