Looking for the best Nursing Homes in Stafford that offer the best services there is might be a hard task to do especially if you do not have a criteria to follow on how to look for one. There are already a lot of Retirement homes that offer quality services out there, but what you really need to find is a Retirement home that is just right for your needs. Using a Retirement homes Evaluation Checklist is a great way for you to find the best nursing homes suitable for you. The following are some of the most common criteria that you should use when choosing for the right nursing home.Lastly, you should look at the recreational activities being offered in the nursing homes. These should promote the health and wellness of the residents in the nursing home, and help develop friendship and camaraderie among residents.
Are Nursing Homes Good Or Bad?
Should You Buy Long Term Care Insurance?
Most people start thinking about the possibility of needing nursing care asf they hit middle age. Many have family or family who needed home health care, assisted living, or a nursing home. At this time, people learn about the high cost of long term care, and they wonder how it gets paid for.
Consider this. Full time nursing homes can cost $50,000 a year or more. Home health care may not be that much less, depending upon the amount of services needed. Assisted living facilities cost less, but may still be a lot more than it costs to live on your own. And the government estimates that 40% of people who turn 65 will need some sort of nursing care during retirement years.
How does this get paid for? Medicare, the federal health insurance for seniors and disabled people, only pays for short term care. Medicaid does pay for nursing homes, and in fact pays for half of all of thee costs in the US. But in order to qualify for Medicaid, a person has to deplete most of their assets.
Assets are protected. If you want to preserve a lifetime of savings for yourself, your spouse, or your heirs, long term care is one obvious way to do this. With the right policy, you will not be forced to spend down your entire estate before you qualify for Medicaid.
You will have choices. Not every nursing facility or provider accepts Medicaid. You will be able to choose your private nursing home, assisted living facility, or home health care provider without worrying if they accept Medicaid payments. Some policies even offset the cost of care that is provided by family members.
How to Shop For Long Term Care Policies
It is important to understand how various policies work, how much they will cost, and which one will be the best plan for you. An experienced insurance agent can help you. You can also start looking by using a convenient online long term care insurance quote form. This will allow you to see competitive policies that are sold in your own local area.
How Do You Know It Is Time To Look For A Nursing Home?
Paying for long term-care is not easy. Most people would not choose to live in a nursing home; however, sometimes it is unavoidable. The average monthly cost of nursing homes in our area exceeds $6,500. Assisted Living and home care are also very expensive. Here are some common misconceptions about long-term care:
1. Medicare will cover my nursing home bill - Not true. Medicare is a federal program that provides very limited coverage for certain short-term nursing home stays but no coverage for long-term care in a nursing home. Many people confuse Medicare with Medicaid, since the names are very similar; however, the programs are very different. Medicaid is a means-tested program, which has very strict income and asset requirements. Medicaid will pay for long-term care if you qualify. Medicare will not pay for long-term care. This may seem unfair, but it is the law.
4. I should transfer my home to my children to get it out of my name - Not true. The many problems to this approach include creating unnecessary gift and capital gains taxes and losing the legal right to live in your home.
Fortunately, there are better ways to transfer your home to your children that avoid these pitfalls. Other techniques, such as the execution of a revocable trust to hold your homestead property, or the execution of a deed with an enhanced life estate, are more sensible approaches.