Are You Eyeing North Dakota’s Long Term Care?

North Dakota is one of the favorite destinations of retired people because apart from its low crime rate it offers diverse outdoor activities. North Dakota long term care facilities are also first-rate but they cost a lot of money.

Moving to North Dakota entails serious research and planning to ensure that you wind up in a place which matches your personality, interests and budget. According to a survey, Fargo is one of the best places in North Dakota that is why so many senior citizens flock here after retiring.

Perhaps many elderly folks love the quiet environment of Fargo and its modest but classy leisure spots. Those who love the outdoors say Fargo has the cleanest air and, in fact, they can’t imagine hunting, biking, and fishing elsewhere.

Housing rates in North Dakota are lower than the national average so buying a property here won’t be a problem. It’s heath care services that are quite expensive here but with the right plan you’ll get by.

According to Genworth Financial’s 2011 Cost of Care Survey the median annual rate of a private nursing home room in North Dakota is $78,475, while a semi-private room is a bit less at $68,718. Only a handful of senor folks enter a nursing home, though, as majority of them prefer to receive care in their homes.

Home health aides in North Dakota charge an hourly rate of $28 which is tremendously high because there is a great demand for in-home care in this region. Assisted living facilities, on the other hand, are lower than the national average.

North Dakota Long Term Care

As the capital of North Dakota and the center of commerce, Bismarck has a lot to offer. You’ll find here high-end shopping centers and the biggest hospitals.

If you decide to settle down in Bismarck upon retirement be ready to fork out more money for your LTC needs since the cost of care in this city is much higher.

Bismarck nursing homes have an average annual cost of $87,053 while the monthly rate of most assisted living facilities is $3,010 on average.

You can think of countless reasons to move to North Dakota but you can’t take the cost of care here for granted. According to financial advisers, 18 years from now North Dakotans who will require care have to pay more or less $400,000 for a year’s stay in a nursing home.

Without a concrete LTC plan you risk losing all of your assets to the cost of care. Everything which took you many years to accumulate will vanish just like that. You can prevent that if you start planning your future while you’re young and your finances still allow it.

According to elder care specialists, there are many ways to play your LTC but they strongly recommend a long term care insurance (LTCI) policy which grants access to high quality LTC services and asset protection.

You can also consider reverse mortgages, hybrid LTC insurance, or annuities among many others. Just don’t retire without a plan or else you’ll miss the opportunity to experience the best of North Dakota long term care.