Reducing Long Term Care Costs in New Mexico

As New Mexico long term care costs continue to destroy people’s finances, more and more families in this state are looking into home-based care, a form of long term care (LTC) setting which has been associated with custodial care only. These days, in-home care recipients can receive the same quality of care which nursing home residents are getting as countless home health care agencies are now equipped with licensed nurses who provide care at one’s home. However, an individual who wishes to remain at home in spite of having developed a chronic illness, which requires round-the-clock monitoring from skilled nurses and physicians in a nursing home, should see to it that his abode is complete with the necessary communication devices, safety structures and medical equipment. Among the things which people who plan to age in place should invest into are desktop computers or laptops or any similar devices, landline phones, mobile phones, security shower grips, additional handrails, wheelchair ramps and lifts, and ventilators among others. All these things will require a lot of money so it is not advisable to invest in them only when you need them already. You could wipe out your resources if you resort to this. Moreover, you can’t just buy those things anytime and stack them inside your house. You will definitely have to consider home modification first to ensure your safety, protection and comfort as you go along with independent living. Just because you’re in the confines of your home it does not follow that you are 100% safe and exempted from accidents like a slip or fall which could result in a broken hip or serious head injuries. According to medical research, many individuals past the age of 65 have actually managed to make it on their own until a bad fall changed their lives forever. New Mexico Long Term Care Costs When a teenager falls off a tree he’ll manage to recover in a matter of weeks to a month but when a 70-year-old loses her balance and collapses from a step stool or ladder this is a serious matter. Elderly folks who have experienced a bad fall usually find it hard to recover. Most of them have eventually ended up in nursing homes which are very expensive in New Mexico. As of this writing the average daily rate of a private room in a New Mexico nursing home is $201 which translates into $73,370 annually. Meanwhile, recipients of in-home care are spending $24 per hour to get a home health aide to assist them with their activities of daily living (ADLs) such as bathing, eating, dressing, use of the toilet, continence management, and transferring. Meanwhile, an assisted living facility which is the preference of elderly folks who either live alone or have sold their homes to be able to afford the cost of care can cost up to $3,500 per month. New Mexico long term care costs should be treated with utmost importance by everybody regardless of age because failure to do so can put one in the most pitiful situation. Find time to contact a licensed long term care insurance (LTCI) agent as he can provide you a wealth of information.