Skilled Nursing Facilities

Serious healthcare needs may call for more attentive, hands-on accommodations.

Skilled nursing facilities offer full-time physicians, on-site nurses and nurse practitioners, social workers and dietitians. These facilities are well-suited for individuals with serious medical conditions and/or Alzheimer’s disease, dementia or cognitive impairment. Residents receive 24-hour care, including closer supervision and facility security.

Financial considerations

In 2020, the national median cost of a private room in a skilled nursing facility was $290 daily or $105,850 annually; for a semi-private room, $255 daily and $93,075 annually. Medicare covers only a limited amount of the cost, up to 100 days after a hospitalization. Long-term care insurance coverage varies by policy.

Family considerations

These facilities provide full-time skilled nursing care that may be difficult for the family to provide in the home. Family members may visit or arrange to pick up a resident for a home visit, if the medical condition permits.

Lifestyle considerations

Communities are designed to provide on-site access to services, including activities for residents, all meals and medical care.

Healthcare considerations

Medical and nursing care on-site and can often meet the healthcare needs of patients for the rest of their lives. Some facilities offer separate memory care units for dementia patients.

Sources: Medicare.gov, “Genworth 2020 Cost of Care Survey”

This content was created and distributed by Legg Mason Global Asset Management. Raymond James is not affiliated with Legg Mason Global Asset Management.