Paying for Nursing Home Care especially in New York can be quite expensive. It can definitely take a toll on a family`s finances.
Before you do anything, it is important to do some really good research. It’s important to check with Medicare, Medicaid, and any private insurance provider you have to find out their current rules about covering the costs of long-term care.
You can pay for nursing home care in several ways.
Here are a few examples, of course it can vary from person to person:
Medicare. For someone who needs special care, Medicare, a Federal program, will cover part of the cost in a skilled nursing home approved by Medicare. Check with Medicare for details.
Medicaid. Medicaid is a State/Federal program that provides health benefits to some people with low incomes. Contact your county family services department to see if you qualify.
Private pay. Some people pay for long-term care with their own savings for as long as possible. When that is no longer possible, they may apply for help from Medicaid.
If you think you may need to apply for Medicaid at some point, make sure the nursing home you’re interested in accepts Medicaid payments. Not all do. Knowing the right information is very essential, this can be the difference between saving a ton of money or having to pay an extra amount of dollar.
Understand that there are plenty of Nursing Homes around New York City that do offer some private pay.
Long-term care insurance. Some people buy private long-term care insurance. It can pay part of the costs for a nursing home or other long-term care for the length of time stated in your policy.
This type of insurance is sold by many different companies and benefits vary widely. Look carefully at several policies before making a choice.
Always try to do plenty of research since every little bit can help with the overall costs of sending a loved one into a nursing home in new york city.
When thinking about nursing home costs, keep in mind that you can have extra out-of-pocket charges for some supplies or personal care, for instance, hair appointments, laundry, and services that are outside routine care. Everything can add up pretty quickly.