Private Costs - How Do We Pay for Senior Care?

Many senior care facilities prefer that their costs be covered by either private resources or Long Term Care Insurance, or a mixture of both.

Medicare in most cases is not set up to cover Long Term Care. Medicaid is to be reserved for those who have normally exhausted their private resources. Many care providers may choose not to accept Medicaid payment, depending on the reimbursement schedule adopted by their particular State.

Providing senior care is not easy work. Consider that in many cases, someone must be available 24 hours per day to meet the senior's needs. Many care-givers are making minimum wage while providing extraordinary quality care - care that many of us would either be uncomfortable or unable to provide. Time, family and work commitments are very real considerations in today's society. We often tend to hope that senior care can be provided almost as if it were a charity, rather than a business or financial-sustaining career. One of the biggest issues we face today in long term senior care is the availability of a strong work force due to the wage earning ability available. Those providing senior care are providing an invaluable service in our communities and in most cases deserve our applause and thanks, along with an adequate compensation.

Anticipate monthly care costs to vary depending on many factors such as:

- the level of care required by the senior
- the type of facility or service
- the location of the facility or service
- the business decisions and practices of the home, facility or service
- the ownership

As you prepare for your own long term care needs, strongly consider making wise investments early, and couple that with a good Long Term Care insurance policy.