by Attorney Thom L. Cooper
The monthly average cost a long term care stay in Ohio is $6,023 per month according to the Ohio Department of Job and Family Services. That works out to $72,276 per year. However if you want to see where we might be headed, let’s look at the cost of some of our trend setting states nearby. According to a recent Genworth Financial Survey. A semi-private room will set you back $100,923 in New Jersey, $110,980 in New York, and $126,108 in Connecticut. Want a private room, add about 10 percent. And…if you think that is high, Alaska, may be a nice place to visit but don’t have a medical emergency there and go into a nursing home since a semi-private room there will deplete your savings at the rate of $218,453 per year!
- How much is your home worth?
- How long to go through it with a long term care stay?
- Who can afford this?
And…to make it worse. If you go into a nursing home, or receive in home medical benefits, in Ohio and the State helps pay the bill they will put a liens on your home for these costs. It is no wonder that people are desperately worried about this problem.
There are things that can be done to protect your home…but you must act now since there are time limits which must run to fully protect your home. But….these time limits don’t start until you act!!
For help…
Contact us, or contact someone else….
…but please act now.
Your home and assets are at stake.
For a copy of the Genworth study see:
http://www.genworth.com/content/products/long_term_care/long_term_care/cost_of_care.html
