Friday, June 11, 2010 Are You Prepared?
"Failure to prepare is preparing to fail."1
Everyone has a 70% chance of needing care before they die.2 If you are unlucky and in that 70% group, how are you going to pay for that care? The costs range from $20 per hour for a bath aide to come to the home to over $6,000 per month for skilled nursing care in a nursing home.
A new Idaho guide addressing the cost of long-term care has been published through the joint efforts of the Idaho Department of Insurance, the University of Idaho Extension Services and AARP. The last guide was published in 2007.
This 2010 guide provides a range of costs for nursing home and assisted living services statewide. The guide also includes estimated monthly expenses for long-term care insurance premiums for ages 55 to age 75. Medicare, Medicaid and out-of-pocket payment approaches are also covered on page 3 of the guide.
To check this out on the Internet go to: The 2010 Price Guide to Long-term Care Insurance and Services in Idaho, or call 1-800-488-5731 at the Idaho Department of Insurance for a copy.
There is no point in “preparing to fail.” What a scary future that projects for the one who fails to prepare and their family!
1 John Wooden, died June 4, 2010
2 "Caregiving in America" National Alliance for Caregiving and AARP 2004
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