Seeking long-term care for their loved ones can be very challenging for families which makes it very difficult for them to sort through the cost of nursing home care in Ontario. A rising ageing population has for iron increased the demand for Nursing home facilities and with this comes the expenses. It is therefore vital for families to comprehend these cost of nursing home care in Ontario breakdowns and the possible funding opportunities that are accorded to them. This blog intended to address the subject of how much a nursing home costs in Ontario and how one can find ways to pay for the expenses.
The Cost Structure of Nursing Homes in Ontario
In general, the home care services cost in Ontario depends on some factors that include the type of area of the nursing home, the type of care that a person requires and the region where the nursing home is located. There are various options of homes which are in the specialty of nursing such as long-term care homes and the varieties of living and services that are offered are as follows with their respective and individual charges.
Basic Accommodation
The cheapest facility that can be offered in the nursing homes is the wardroom accommodation. Usually, the rooms can accommodate several individuals and washer and bathroom facilities are also provided. Even for base rate accommodation, the Ontario Ministry of Health and Long Term Care controls its rates fixing a general tariff for all the facilities across the province. This option is by far cheaper than other options but it offers fundamental care services such as nursing, personal care and doctor’s services among others.
Semi-Private and Private Accommodation
Specifically for those who want more privacy, there is the option of semi-private and private accommodations at a higher price tag. Semi-private rooms are capable of housing two residents while private are designed to house only one. These rooms’ prices are partly controlled by the government but still can vary from one nursing home to another and from the region to the region. It is also important for the families to understand that to make use of these options, one has to pay higher monthly fees that can be inversely proportional to the family’s salaries.
Additional Services and Amenities
In addition to fundamental care, the competent caretakers in these facilities can also avail of other services at an extra charge. Some of these are; better meal plans, individual therapy, games and other related activities and also chances to see other medical practitioners within the compound. Though such services may positively impact the residents’ lives, they may the cost of services and therefore increase the total cost of nursing home care. Families need to be very careful while going through the list of services and decide which of them is necessary for the care of their loved ones.
Understanding the Long-Term Care Co-Payment
This meant that while most of the home nursing care cost is funded by the government the residents are still expected to contribute to the nursing home care cost of their accommodation in the home. This co-payment depends on the income of the resident and the type of accommodation that the resident is charged. Some of the benefits include subsidizing the renters or inhabitants of basic housing; wherein, the citizens with fewer incomes or assets can still be availed of long-term care.
The co-payment amount set is once per year and can be reviewed depending on changes in the income of the residents. Consumer’s attention should be drawn to the fact that households ought to make a co-payment and in case they fail to make the payments the nursing home is entitled to take legal action to recover the amount. Hence it is necessary to provide funds for this expense and to look for the finance if required.
Financial Assistance Programs
As has been mentioned there are several Ontario financial support programs aimed to assist families bearing the expenses of the nursing home. These programs have been developed to make sure that all the citizens of the country can pay for their long-term care services irrespective of their financial status.
Rate Reduction Program
A special plan for a rate reduction is provided to the citizens living in the basic type of accommodation and the ability of the co-payment is not enough. This program helps to determine the resident’s income status and then offers an appropriate subsidy to bring down the monthly payment. Any person who wants to be part of this community must complete a questionnaire and provide personal identification such as income documentation like a tax return or pension statement. The funds are renewed every year, which means that the residents must complete new paperwork every year to be considered for subsidy.
Guaranteed Income Supplement (GIS)
The Guaranteed Income Supplement (GIS) is a federal enhancement program for low-income persons who are sixty-five years of age and older recipients of OAS. With this supplement, one may be able to use it to balance the expenses that are incurred in nursing homes. The recipient of GIS is determined by his or her income status of the resident, but the amount provided depends on a certain scale. Those receiving GIS should consider putting some of the supplement set aside for the budgeting of long-term health care.
Ontario Disability Support Program (ODSP)
In the case of a person with a disability in Ontario, the Ontario Disability Support Program brings positive change by providing some financial assistance to support the cost of home health care. This program offers cash reimbursement as well as prescriptions for several different medical necessities, these necessities could be in terms of medical equipment and drugs. It must be noted that if an ODSP recipient is admitted to a nursing home, he or she may continue to receive benefits but possibly at a reduced amount that reflects the cost of in home care.
Long-Term Care Insurance
There are also other ways by which families can be assisted to manage or pay for the nursing home that they need and one of these is the long-term care insurance. What this type of insurance entails is offering a form of insurance for all those kinds of services you find in the nursing home and other such kinds of facilities. Nonetheless, it’s costly to acquire long-term care insurance policies and one needs to be careful when choosing one by going through the fine print. It recommended that families reflect on monetary indicators and the probable future necessity of long-term care while making choices relating to such insurance.
Preparation for the Expenses of Nursing Homes
As families know, the cost of a stay in a nursing home very often may bring financial distress to the family; therefore, advanced planning is crucial. Preparation for the future can be made in advance, so when the time comes to require long-term care for the elderly, families don’t have to worry about how to Source the funds to pay for this service.
Saving and Budgeting
They should also set a portion of their savings to cater for the long-term care needs of the elderly. People open a savings account or investment to manage the cost in comparison to how much private home cares cost per hour of nursing homes to avoid any financial strain. Also, a well-spent budget that reaches the forthcoming expenses in future helps the families to balance a lot.
Exploring Government Programs Early
Applicants should investigate the various government help programs early enough to enable them her familiarize themselves with the criteria of eligibility and how to go about the application process. It is important to look at all of the options available so that way families are prepared when it comes to the situation of accessing financial support for long-term care.
Legal and Financial Planning
Legal and financial planning can also be of great use for people to have mental calmness. Discussing with a financial expert or an estate planner usually assists the family in making a big plan bearing in mind long-term care plans. It may include the establishment of trusts, changes in wills, or other forms to avoid or reduce the effects of costs incurred in nursing homes.