Arkansas Financial Planning
Arkansas-Financial Planning and Management
As you age, accumulating prescriptions and more frequent doctor's visits prompt the question, "How will I pay for all this?" Everyone needs help paying for health care and seniors should apply for Medicare as soon as they are eligible. At the very least, Medicare will cover senior's stays in hospital, home health care, and hospice care at no out-of-pocket expense. Read more about the differences between Medicare and Medicaid. Seniors also need to find out what existing coverage they have through insurance, retirement plans, or even fraternal or union organizations. All of these might help defray the costs of senior care.
It is important to understand the costs for different types of care when you are looking into senior care facilities. According to Genworth Financial, the median costs of different types of long-term care in Arkansas are as follows:· Assisted Living (private, one bedroom): $33,720
· Nursing Home (semi-private room): $53,593
· Nursing Home (private room): $58,900
The state offers free counseling about Medicare and long-term care through the Senior Health Insurance Information Program (SHIP).
Senior Care Guide: Care.com's comprehensive guide to senior care that helps readers understand senior care options by describing each option in detail and answering frequently asked questions.
For more information on senior healthcare, visit our Articles and Resources page.
Looking for quality care in Arkansas? Check out the local pages below.