My mother and father are getting older, and they mentioned last night that they thought about looking into some type of senior living facility near Louisville. I want to help them. What kind of financial considerations should we know about?

Request Your Free Consultation

Several issues factor into the cost of senior housing and care. lists the following:

  • Location – All types of housing, including facilities for elderly people, are more expensive in metropolitan areas.
  • Level of care – The higher the level of care they need, the higher the cost will be. The minimum-level situation is independent living, in which seniors can pay for as few services as they need. The most intensive care is provided at skilled nursing facilities, or nursing homes; they can cost an average of $70,000 in the United States.
  • Insurance coverage – Medicare provides insurance coverage in nursing homes only for limited stays. Medicaid contributes to assisted living costs and nursing home coverage, but facilities are not required to accept Medicaid.
  • Long-term care insurance – This would be an intelligent first step. Insurance will offset some of the costs of long-term care, such as in-home care, assisted living facilities, and nursing homes.
  • Home modification cost and in-home help – Although the initial cost may appear high, home modification will actually result in money savings in the long term. It will allow your parents to stay in their own familiar home—if in-home care can be obtained when it becomes necessary.

Has Your Loved One Been Injured In A Nursing Home?

If you believe your loved one is being subjected to nursing home abuse you need to speak with an experienced Kentucky nursing home neglect attorney as soon as possible. Contact us online or call our office directly at 888.450.4456 to schedule a free consultation.