Ohio Long Term Care Costs Expected To Increase Even More In The Next Few Years

The Ohio long term care costs differ from the other long term care insurance costs

in the other states simply because each state and each region has varying costs of LTC services and facilities.

The state or exact area where an individual opts to spend and receive his policy benefits is one of the major factors that most insurance companies consider when obtaining the rates of monthly premiums and other prices of a certain insurance policy. There are some regions wherein the costs are much higher than the rest of the country but the services and facilities that they provide are almost the same and of the same quality.

For example, a resident of Ohio would have to spend at least $175 a day for a semi-private room and $190 a day for a private room in a nursing home facility while other states may only cost around $120 to $150 a day for their nursing home fees. Some other figures with regards to the rates of the other services include $47 for a day of care in an Adult Day Care Health Center, $17 for Homemaker services, $18 for Home Health Aide services, and approximately $3,000 a month for a one-bedroom unit in an Assisted Living facility.

These data are only ballpark estimate of the actual prices and rates that the nursing homes and adult day care facilities in the state of Ohio. These Ohio long term care costs may still increase as time goes by, making it even harder for some residents who are still uninsured to acquire an LTC insurance policy in the future.

Some surveys and studies prove that for every year that an LTC insurance plan acquisition is delayed, an increase of ten to twelve percent is possible, thus making the already expensive rates pricier in the coming years. This should alarm the residents who currently do not own or do not plan of owning an LTC insurance yet. If they insist on delaying their plan purchase with hopes that it would somehow be affordable in the next few years, they might just end up using all their savings and other personal assets to compensate for the LTC services that they are going to receive.

This would certainly be a major problem especially if these retirees do not have sufficient and stable financial income to support their LTC needs. The worst situation that could happen is for them to depend on their younger family members to take care of them even if they do not have enough knowledge of how to take care and treat certain kinds of illnesses that their elder loved ones might acquire due to old age.

Planning ahead and having a decision regarding the purchase of an LTC plan as early as now would certainly spare an Ohio resident of the burdens that he might encounter in the future with regards to his LTC needs. The Ohio long term care costs that are currently being offered right now must also be considered so that he can estimate and have an idea of how much money it would cost him in the coming years if he is not going to acquire one yet.

by: Beatrix Lewis

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