Planning for healthcare needs later in life can be overwhelming. And when it comes to skilled nursing care costs, the numbers can seem especially daunting. But this aspect of long-term care doesn’t have to be a mystery. This article will provide a breakdown of skilled nursing care costs, explore what influences those costs, and help you feel more confident on this often confusing subject.
What is Skilled Nursing Care?
Skilled nursing care is a specific type of care provided by licensed medical professionals, such as registered nurses (RNs) or physical therapists. It goes beyond assisting with everyday tasks. Instead, this care focuses on addressing complex medical needs.
Some examples include:
- Administering medications intravenously
- Providing wound care
- Managing breathing tubes
- Conducting physical therapy after surgery
- Offering specialized care for chronic illnesses
Skilled nursing care is available in various settings, including skilled nursing facilities, nursing homes, senior homes, and even through home health services.
Determining which environment best suits you or your loved one depends on individual needs and personal preferences.
Average Cost of Skilled Nursing Care
While you need to delve deeper into your individual circumstances and specific needs to get a clear idea of your estimated cost of skilled nursing care, examining national averages will give you a starting point.
The national median cost for skilled nursing care, often provided in nursing home settings, is based on a daily or monthly rate:
- Daily rate: Private rooms average $330 per day, while semi-private rooms average $294
- Monthly rate: Anticipate a median cost of $8,929 monthly for semi-private or $10,025 for private accommodations.
4 Key Factors That Affect Skilled Nursing Care Cost
Now that you’ve got a handle on some average numbers, it’s time to break down what can make skilled nursing care costs higher or lower. Several factors come into play, depending on individual situations.
1. Location
Where you are in the US significantly influences what you can anticipate paying for care options. Just like real estate, skilled nursing care costs often run higher in certain states and lower in others.
For example, the median annual cost of a private room in a Kentucky skilled nursing facility is $106,800. But the same type of care nationally came in at $116,400.
Additionally, prices tend to rise more quickly in areas experiencing rapid population growth from aging adults. This is because demand may increase faster than facilities can be built or staffed.
2. Facility Type and Amenities
Not all skilled nursing care is the same. You’ve got options, from basic to luxurious. Facilities with a more extensive range of services, resort-style amenities, and high staff-to-resident ratios usually come with higher price tags.
Just as you might choose between a budget-friendly hotel or a five-star resort for a vacation, consider what matters most to you. In this setting, weighing your options comes down to personal priorities.
3. Level of Care Required
If your needs are more intensive and require round-the-clock monitoring or specialized therapies, anticipate skilled nursing care costs to reflect this greater need.
Factors influencing higher levels of care include specialized wound care, complex medication management, or frequent assistance with daily activities. The good news is that these higher costs often come with more comprehensive support from skilled professionals and health aides.
4. Duration of Stay
Those requiring short-term rehabilitative services after surgery or a hospital stay will face different skilled nursing care costs. The same is true for those requiring long-term support and medical services.
It’s helpful to consider if your situation might call for weeks of care, months, or even an indefinite period. The duration of your stay can have implications for financial planning and what resources you pursue. For example, if you need care for a long time, long-term care insurance might be a good idea.
FAQs about Skilled Nursing Care Costs
Skilled Care Within Your Reach
Just as you budget for other aspects of life, knowing about skilled nursing care costs will equip you with the information to navigate this challenging yet crucial stage with greater confidence.
Finding a home is one of the most important experiences in life. Choosing the right place for you whether a permanent residence, a hotel, or a senior home can become very challenging when you don’t have the right guide.
At Senior Home Transitions, we are committed to helping families make the home search experience as pleasant as possible. Whether you need memory care, independent living, or skilled nursing facilities, we are here to take the challenge off you and match you or your loved one with the perfect home for your special needs.
Call us today for FREE placement services.
