According to a 2011 Genworth Financial Cost of Care Survey, the cost for long term state care in Illinois is the highest in the nation. In Illinois, the average cost of state assisted living care is 41,880, approximately $2,500 higher than the national average. This is an increase of 6% annually over the past six years. For in-home care, Illinois’ average hourly rate is $20 per hour, nationally the rate stands at $19 per hour.
In Illinois, the cost for a room in a private nursing facility has risen 3.8% annually compared to 4.4% nationally. The average rate for a private room in Illinois is $63,875 per year compared to $77,745 per year.
Negotiating with care providers: It never hurts to ask
Because competition is stiff in local markets, consumers may have the power to negotiate, particularly with assisted living facilities and home care agencies. Family members should not be afraid to address the cost of care and whether these costs can be reduced.
Know what to ask: Tips for Reducing Care Giving Costs
While nursing homes are reluctant to reduce their costs because of their dependence on Medicaid/Medicare, assisted living facilities and in-home agencies have more room in negotiating their rates. Keep these things in mind when negotiating the costs of long term care.
Know local costs: Consumers can plan for the costs of long term care by using Genworth’s Financial Cost of Care Map. The map provides the median cost of care nationally and in certain areas within Illinois.
Fee Waivers: Consumers may be charged a one-time move in fee by an assisted living facility. If the facility has several vacant units or they have stiff local competition, they may be willing to waive the fee.
Special Rates: If a resident agrees to move in on the first of the month or at a time when the facility has a higher vacancy rate, you may be able to get a “special rate” from the facility.
Vacancy Rates: If the facility has a high vacancy rate, they may move the resident into a more expensive room at a lower price.
Lower Hourly Rates: If the patients requires long-term case which is easy to staff, a home health care agency may reduce their hourly rate.
Shop Around: Check out rates at several different agencies. If an agency knows that you are shopping around they may be willing to negotiate a lower rate. If the rates of the competition are lower, let them know that.
Premium Waivers: Home care agencies often charge a premium for weekend services. If a significant amount of care is needed weekdays as well, the agency may be willing to waive the weekend premium.
Ask for an Upgrade: Nursing homes generally do not reduce their rates. You can, however, ask for a room upgrade or extra amenities for the same rate.
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