With the blessing of longer life has come the challenge of the need for long-term care. And with the incidence of dementia expected to double by 2040, many families will be finding themselves wondering what to do when their loved one is diagnosed with Alzheimer’s or Parkinson’s Disease. Due to the increased demand for services, the cost of long-term care in the U.S. is growing at a faster pace than the rate of inflation generally. Across the country, the range of long-term care services has been growing at a rate of about 5% a year — much faster than the cost of other goods and services. This rate of inflation means that the cost of this care will more than double in the next 20 years. Many people ask about the levels of care and the cost in our area. In trying to decide if assisted living or a nursing home is better for Mom, given her current health and care needs, it is good to know the different levels of care and their cost in Lubbock and West Texas.
Care Options for Seniors:
In-Home Care: The cost of home care provided by an agency in West Texas ranges from $18 – $22 per hour. A private caregiver may charge less, but in that instance you don’t have the training, and screening provided by an agency. Home care is what most of us would prefer! But you can see that at this rate, if you needed around the clock care, home is the most expensive place to get it. This is why we recommend that those who are not yet in a health crisis should find out what long-term care insurance options are still available that would allow you to self-fund your care so that you can stay at home if you wish. Texas Medicaid will pay for some home care benefits under some circumstances through it’s Star Plus Waiver program. Nathan Ziegler & Associates can evaluate your loved one’s situation and see if they can qualify for this benefit. Also, some home care expenses can be used to help qualify a wartime veteran or their surviving spouse for the VA Pension with Aid & Attendance benefit.
Senior Living (Retirement) Communities: The cost of senior living communities in Lubbock and West Texas ranges from $2,800 to $5,500 per month. These communities cater to residents over age 65 and provide many amenities such as prepared meals, educational opportunities, activities, transportation and cleaning services. Accommodations can be individual homes, condos, apartments, or rooms, all within the senior living development. Senior or retirement communities are different from assisted living communities in that they are not licensed to provide help with activities of daily living. Residents may contract separately with a home health agency to provide this care, and in fact, many senior living communities have home health agencies officing onsite within the community. It is important to note that the cost of room and board in a senior living community is not a qualified medical expense for the VA Pension program. Also, Medicaid does not pay for a stay in a senior living community.
Assisted Living Communities: The starting cost of assisting living in Lubbock and West Texas ranges from $3,000 to $5,000 per month, but could go as high as $6,500 per month if the resident needs memory care due to cognitive impairment from Alzheimer’s or some other form of dementia. These communities provide prepared meals, activities, and cleaning, medication management and help with activities of daily living. Some select assisted living communities are even equipped to handle the highest level of care that would required a skilled nurse, precluding the need to move the resident as the need for care increases. Families should be aware that assisted living communities typically separate their charges, with room and board being one part, and a “level of care charge” comprising the second part. The level of care charge could be zero if a resident enters the community with no immediate need for care, and usually goes up with time. The level of care charge could be $400 to $1000 per month on top of the room and board charge. Assisted living room, board, and level of care charges are all qualified medical expenses for VA Pension benefits. Families should be aware that most assisted living communities do not accept Medicaid long-term care benefits, and the ones that do usually do not allow new residents to use them. The few Medicaid beds that these communities have are usually reserved for their existing residents who have run out of funds to pay for care.
Nursing Homes: Nursing homes in Lubbock and West Texas cost on average from $4,700 to $6,500 per month. This if for a shared room in a Medicaid certified facility. If your loved one needs a special type of equipment that only a few facilities have, such as a special ventilator, the cost could be double that! Nursing homes provide the care of skilled nurses around the clock. Texas Medicaid benefits will pay for care in a skilled nursing facility if you meet the strict asset, income and need for care guidelines of the program. Nursing home costs are a qualified medical expense for the VA Pension program as well, but the program doesn’t pay as much toward the cost of care as Medicaid, making the later a better benefit for nursing home care in most cases.
Ways to Pay for Long-Term Care:
- Cash out of pocket
- Long-term care insurance benefits
- Medicaid Long-Term Care Benefits
- VA Pension benefits
For most people, a new expense of $60,000 or more per year will drain their savings rapidly. If you have a loved one who already needs care, or will in the near future, or who is showing symptoms of Alzheimer’s, Parkinson’s or some other form of dementia, it’s vital that you seek experienced advice from a long-term care planning attorney on how to pay for care. For many of our clients the difference in being proactive to get advice and take steps to qualify for benefits or see if they can still qualify for long-term care insurance, is the difference in preserving their life savings and going broke in a nursing home. Protect your savings! Care for seniors is expensive. Call our office at 806-765-8801 today for your free consultation to find out how to protect your savings from the cost of long-term care.
