Are You Prepared For Ohios Cost Of Care?

Ohios health care budget is on the line as a result of the states huge Medicaid spending on long term care

. Unfortunately, Ohio long term care costs are expected to go even higher in the coming years as the law mandates states to increase Medicaid coverage.

Reports have it that Ohio is expected to enroll about 554,000 more of its citizens into the Medicaid list of beneficiaries despite the current situation of this federal health insurance program.

This perplexing issue will only add up to your worries. Besides that it will not in any way enlighten you on the states cost of care. Having said that, do yourself a favor by turning your attention to the states various agencies that continuously aim to promote the wellbeing of individuals who are currently receiving long term care; and the population that is looking at acquiring care in the next 10 to 40 years.

According to Ohios Department of Aging, the state has approximately 1,000 nursing homes that provide a full range of medical and custodial care services to about 80.000 Ohioans. Many families in this state are forking out up to $76,650 annually for a loved ones stay in a nursing home.

Nursing homes are important to many Ohioans especially to those individuals who have come down to a chronic illness which requires round the clock care and monitoring. Health care statistics, however, reveal that the average length of stay of most elderly residents in a nursing home is two and a half years.

Its just too unfortunate that most Ohioans are only capable of footing one year of nursing home expenses and then theyre going to look at Medicaid after that.

Managing Ohio Long Term Care Costs

Medicaid is not a good option for long term care (LTC) considering its dwindling budget. Its not only Ohioans who are discouraged from the said federal health insurance program which is funded by taxpayers, as every U.S state is experiencing the same problem.

Though LTC it is a nationwide concern, you and your family dont need to be in the picture if you dont want to. All you need to be spared is a well thought out LTC plan that will allow you to receive care in your preferred LTC setting while keeping your nest egg intact for other purposes.

Without an effective plan, you will be forced to acquire mediocre LTC services only up to the time that you can afford it using your personal resources. Should you eventually require a higher level of care, which is available in nursing homes, where will you pull out your resources?

Through an effective LTC plan, which you should discuss with your family, you can bravely face the cost of care. Just be sure to have your present health condition checked by your doctor first so that you wont wind up with a plan that you will never get to use for that will be a total waste of money.

While youre in the planning stage, see to it that you dont only concentrate on current Ohio long term care costs. You might wake up one day and find that the cost of care in your area has tripled, or worse, quadrupled already.

by: Roberta Mejia

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