A Complete Guide to Nursing Home Costs & Comparisons

A Complete Guide to Nursing Home Costs & Comparisons

A Complete Guide to Nursing Home Costs & Comparisons


Cost is one of the crucial considerations when moving to a nursing home. It helps to know that the prices vary across states and facilities, depending on your health condition and the services they offer. Most of them provide a monthly bill to you or the legal appointee. This comprises the basic charges, including a fee for the room and personal and medical care. Since it requires significant investment, it is best to learn about the factors affecting the cost of skilled nursing homes to make an informed decision.

10 Standard Costs of a Nursing Home

  • Room with Functional Furniture – A bed, small bedside table, and dresser are some essential furniture pieces you may expect in a nursing home’s room. It may also include closet space for your belongings.
  • Dietary Services – Planning the menu and preparing the meals to meet your specific dietary restrictions and needs comes under room and board. This also includes three meals every day, beverages, and snacks.
  • Supervision and Personal Care – Qualified nursing staff offer daily care, such as helping you with dressing, hygiene, toileting, managing the medicines, walking, and more.
  • Nursing Services – Trained professionals provide higher-level care such as administering medications, monitoring vital signs, and wound care. Experts are available to develop your treatment plans. They are responsible for advanced care, such as collaborating with physicians, monitoring blood glucose levels, ensuring oxygen supply, and supervising other nursing staff.
  • Activities – Spiritual, recreational, and other individual and group programs are often included as routine activities in nursing homes to keep their residents engaged.
  • Bedding – Most skilled nursing facilities provide pillowcases, sheets, washcloths, towels, and gowns.
  • Housekeeping – These facilities provide room and facility sanitation and cleaning services to maintain the building in excellent condition for the residents.
  • Personal Hygiene Items – Nursing homes stock and provide everyday items such as bath and hand soap, shampoo, toothpaste, and toothbrushes.
  • In-House Laundry – Laundry for personal clothing items and linen is typically covered as a standard service.
  • Prescription Drug Administration – Nursing homes consider medication management and administration to be essential services.

Cost of Nursing Homes vs. Assisted Living Facilities

It helps to know that most people consider assisted living facilities more affordable than nursing homes. This is because they offer specialized care, medical supervision, and assistance for people with disabilities, which require expert knowledge and professional services. Moreover, they also have private and semi-private rooms, depending on your medical condition. If you do not have any serious ailments and need help with activities of daily living, you may consider moving to an assisted living facility. However, if you need health care support, you should find a reputable skilled nursing facility to ensure your senior years are more peaceful and comfortable.

Cost of Skilled Nursing Facilities vs. In-Home Care

In-home care providers include options like homemaking service providers and can help you manage everyday activities like cleaning, cooking, and running errands. You may also consider home health aides who can offer more extensive care and also serve as reliable companions. However, skilled nursing care is ideal if you need professional help to administer medication and regularly monitor your vitals. Although it may cost you more to move to one of these facilities, it is beneficial that they have excellent amenities and offer intense medical care.

Are Nursing Home Costs Tax Deductible?

In most cases, the out-of-pocket costs at nursing homes are tax deductible as itemized medical expenses. If you are primarily in a skilled nursing facility for medical care, then related expenses, including meals and boarding, are deductible. However, if you are in a facility for personal reasons, you can only deduct the actual medical care, excluding meals and lodging expenses.

How to Pay for Your Move to a Skilled Nursing Facility?

Medicare Coverage

It covers skilled nursing care expenses only in specific situations. For instance, if you need specialized care after a short hospital stay. Some short-term stays that Medicare may help pay for are:

  • Admitting to a hospital as an inpatient for a minimum of three days.
  • Admission to a Medicare-certified nursing home within 30 days after the hospital stay.
  • Need skilled care such as speech or physical therapy and other types of rehabilitation.

Private Pay

This plan offers flexibility, which is why some seniors initially pay for nursing home care privately, then move to Medicare or another source in the future. Knowing the accepted payments before moving into a facility is essential because they often limit publicly-funded residents.


When planning for retirement and long-term care, you can buy an annuity with your savings. This way, you will receive regular monthly payments from the underwriter in return for a lump amount. You can use it to pay for the nursing home.

Life Insurance

You can use a whole life insurance policy, including a skilled nursing facility, for long-term care payments. It helps to learn about the different approaches to choose one that fits your needs.

Long-Term Care Insurance

Long-term care insurance is wise when you plan to pay for senior care. You will have more freedom of choice and options. However, it is essential to know that these policies vary in payment time.

Renting Out a Property

If you own a property and want to move to a skilled nursing home, you can rent it out with careful management. It could be your permanent source of income after retirement, and you can use it towards your expenses at the facility.

Veteran Benefits for Skilled Nursing Home

If you are a veteran with a service-related disability or injuries, the Department of Veterans Affairs may offer complete coverage for long-term care services. This is available through specific providers or at specified locations approved by them.

Our Skilled Nursing Home Offers Excellent Care & Amenities

If you are searching for a reputable nursing home with various amenities, professional and qualified staff, and senior-friendly infrastructure, The Holiday Retirement is a great option. We provide exceptional facilities to ensure our residents are healthy, comfortable, and happy.

For more information about our Holiday nursing home in Rhode Island, call us at 1-401-765-1440 or book a tour of the Manville facility.

Leave a Reply

Your email address will not be published. Required fields are marked *


Please enter the CAPTCHA text