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Survey on current costs for care
Old 11-18-2012, 09:10 AM   #1
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Survey on current costs for care

Information on the cost of elder care services across the country in 2012.

"This market survey, conducted in conjunction with LifePlans, Inc., contains daily private-pay rates for private and semi-private rooms in licensed nursing homes, monthly base rates for assisted living communities, hourly rates for home health aides from licensed agencies and agency provided homemaker companion services, and daily rates for adult day services across the United

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Old 11-18-2012, 09:23 AM   #2
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Thanks. That's as good read with lots of explanations, especially for folks who don't know the difference between nursing homes, assisted living, etc.

Here's a copy of their table on average costs
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Old 11-18-2012, 10:01 AM   #3
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I can say that the estimate ranges for my part of the country are quite accurate. That's based on my late mother's experiences -- four different types of care during her last three years, starting with home care and finishing with an Alzheimer's assisted living facility.
I thought growing old would take longer.
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Old 11-18-2012, 10:14 AM   #4
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A good overview. Thanks.

I don't want to change the subject, but would like to mention the interim step that's available between living at home, living with a relative, and assisted living. You may know about this, but maybe not. It's senior apartment living in a managed facility. Not subsidized by healthcare, or medicaid, but an excellent alternative that allows independent living for seniors... single or couples... in a place that is safe, and offers the amenities that make life less challenging.

We will eventually go this route, given reasonable health in the neartime coming years. In effect, these apartments offer many of the things offered by assisted living, yet allow the privacy and independence, that is missing there.

Here's a typical description.

One payment... either a buy in to the apartment with a guarantee return of capital upon leaving, or as in the one we are considering, a month to month rental.

Various sizes - studio to three bedroom.
Two or three meals a day in a white tablecloth dining room.
Transportation- Mini Buses for shopping, Doctors visits, plays, dining out, trips to casinos etc. And low cost individual taxi service.
Garages for those who prefer to keep their cars.
Libraries, meeting rooms, card rooms, outdoor patios and walkways, beauty shops, ice cream parlor, and often many more services like pools, and gyms. Function rooms for visitors, parties or celebrations.
Single payment for all utilities, TV and internet in the monthly bill.
Light housekeeping twice a week.
24/7 front desk and security.
Most have organized activities, and a daily calendar of events.

We have visited many of these apartment complexes, both here in Illinois, and in Florida, including the Villages. While conditions vary, the vast majority are quite elegant, both in the common rooms and the apartments themselves. The prices vary widely, from as little as $18,000/yr for 1 person studio, to much higher... over $50,000. The one we like is currently available (two bedroom 1100sf. ) @ about $32,000. (remember, this is two people, with almost no additional expenses.

One of the things that cannot be taken too lightly, when deciding to relocate aging parent from the ancestral home, is the safety, and the easy integration into a social situation which IMHO, can lead to happier, healthier and more fulfilling years.

Admission to one of these complexes almost always requires the ability for self care and independent mobility, though we notice that once admitted, accommodations are often made for part time assistance, and wheel chairs, etc.

A side note... some friends who we considered to be candidates for a nursing home, seven years ago, moved into a senior apartment complex, and relieved of the strains of living alone in a house, are thriving... with an active social life, including cruises, shows, and organizations etc.

Didn't mean to threadjack, but think this fits in when making decisions for the later years.
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Old 11-18-2012, 10:19 AM   #5
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It's lower than average in Texas.
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Old 11-18-2012, 02:07 PM   #6
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My LTC policy is with John Hancock. This is their calculator which is by state. The last time they sent me a proposal for increasing my coverage and rates, the costs in my area were considerably below the USA national average which was what their proposal was based on.

Cost of Long Term Care Calculator - John Hancock
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Old 11-18-2012, 03:39 PM   #7
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Interesting. I wish they had smaller cities listed. I know our area is much less than Austin, because I checked recently.
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Old 11-18-2012, 07:31 PM   #8
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That's spot on for Denver. Large cities probably have a larger population of professional caregivers. Our recent notice of a 2013 fee boost is less than 3%.

The table footnote says:
"Annual rates for home care are based on four hours per day, five days per week; annual rates for adult day services are based on five days per week."
Uhn-huh. Before we get all optimistic about the reduced expenses of home care, let me reframe that.
"Annual rates for home care are based on you working 24 hours per day for two days per week, and 20 hours per day for five days per week. Annual rates for adult day services are based on you working for 24 hours per day for two days per week, and 16 hours per day five for days per week."

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Old 11-18-2012, 07:58 PM   #9
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The cost of care in the Northeast is twice as much as the Midwest and about 50% higher than the West coast.

Maybe it's time to rethink retirement in this part of the country particularly if you plan to self insure.
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Old 11-18-2012, 09:04 PM   #10
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Originally Posted by Ally View Post
It's lower than average in Texas.
Yeah, but do you remember Marvin Zindler's expose of Texas assisted living/nursing homes?
I have outlived most of the people I don't like and I am working on the rest.
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Old 11-19-2012, 05:11 AM   #11
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I just posted the same Metlife link under another thread, sorry.
Very conservative with investments. Not ER'd yet, 48 years old. Please do not take anything I write or imply as legal, financial or medical advice directed to you. Contact your own financial advisor, healthcare provider, or attorney for financial, medical and legal advice.
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