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Buckeyes that are currently active at work and earning a monthly salary more than enough to meet their daily necessities and little whims are encouraged to prepare for the Ohio long term care costs. This is a pressing matter that deserves immediate attention since Medicaid wouldn’t be a good option in the coming years especially if you’re planning to receive care in a nursing home. Seniors who are currently receiving care in Ohio nursing homes dread the outcome of the plan of Governor John Kasich to cut down Medicaid services in the state’s nursing houses. Most of these elderly folks have no more homes and have depleted all their assets down to the last penny. Where can they possibly turn to for health care and medical assistance should Medicaid be taken away from them? Through this course of action, Gov. Kasich hopes to encourage more retirees to receive long term care (LTC) in the home care setting or in assisted living facilities should they need it one day, to prevent the state’s resources from draining too fast due to the huge expenses that Medicaid is currently footing. Unfortunately, not all of the 70% people over 65 years of age who will be requiring LTC anytime soon will be comfortable at home or in a continuing care retirement community. What if an individual’s health condition would demand 24/7 monitoring from a skilled nurse? It’s a pity that the current batch of senior citizens receiving care in Ohio nursing homes through Medicaid have to wake up everyday with fear in their hearts, as they have no idea when they’ll cease receiving health care. Meanwhile, those who are 40 years away from seeking custodial care and medical assistance are advised to look into the possible Ohio long term care costs. Private nursing home rooms will probably cost $306,600 annually in 2030, as experts on the field of LTC have predicted that the rates of LTC facilities will increase four times more 20 years down the road. Even if you settle for a home health aide someday, you’ll be spending a chunk of your savings every year. At present, elderly folks are paying $14 an hour for a home health aide but when it’s your turn to receive custodial care at home in 2030 you’ll probably spend as much as $165,400 annually for a home health aide. Getting a long term care insurance quote will lead you to many options for your long term care requirements. Should you consider Medicaid assistance in the future, you don’t have to spend down all your assets as what today’s elderly folks did just to be eligible to the said health program. You can acquire the Ohio long term care insurance partnership program which allows policyholders to keep their assets with a total amount that is equivalent to their partnership policy’s benefits. While you have the freedom to secure another type of LTCI policy, you won’t instantly qualify for Medicaid assistance after having used up all your benefits. It would be best to consult your insurance agent first before buying an LTCI policy so that when the time comes that you’ll require long term custodial and medical care, you can bravely face the soaring Ohio long term care costs without having to depend solely on government funded health programs. Visit CompleteLongTermCare.com to find helpful articles on CLASS Act and its provisions. Get information on Ohio long term care costs from different insurance providers.
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