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Factors Influencing the Assisted Living Costs
Posted by :Clare LouisePosted date : July 9, 2018In FeaturedComments Off on Factors Influencing the Assisted Living Costs
Assisted living facilities are designed to help the residents, mostly seniors, lead a self-sufficient lifestyle with the assurance of professional assistance when needed. It’s a combination of housing, meals, social activities, personal care, 24-hour supervision, and in some instances, health services. Assisted living is a great option for people who can’t live on their own due to old age or health-related complications. However, assisted living costs will vary widely depending on the level of care required, which may sometimes include full-time nursing care.
Regardless of your income, planning the right budget for assisted living expenses after retirement can be a tricky endeavor. Even at old age, the quality of life is still as important, if not more important than before. However, age-related medical expenses and living expense tend to make it difficult to achieve the desired peace of mind. That’s why it’s critical to work a suitable budget towards your assisted living expenses.
Services that Affect the Cost of Assisted Living
Every state has different regulation and license requirements for assisted living facilities to offer various services in the community. For instance, you will find some assisted living communities attached to a skilled nursing facility in order to provide more advanced medical care to the residents. However, the majority of assisted living communities offer basic medical monitoring services and daily care and social activities. Examples of daily living activities include dressing, mobility, hygiene, eating, toileting, bathing, shopping, and communication. The following services offered at the assisted living community will significantly influence assisted living costs:
24-hour supervision and security
Health and exercise programs
Medications and nursing services
What is The Actual Cost of Assisted Living?
Other than the service offered at the assisted living facility, the type of residence, geographical location, and the size of apartment or studio also influence the assisted living costs. Most communities charge a basic monthly rate that covers all the critical services, but you can also opt for long-term options. The base rate will cover accommodation or boarding costs and daily meals offered at the facility. In some communities, you may be charged entrance fees, laundry and housekeeping fees, as well as a minimum deposit. Costs, however, vary from one facility to the next, so you should always ask before you commit your money.
Statistics from 2014 indicated that the average cost of an assisted living apartment (one-bedroom apartment) was $3,500/month in 2014 in the United States. That represented a 1.19 percent increase from the previous year. Two-bedroom apartments and studios also varied accordingly.
Choosing a residential care home in the US shouldn’t be a problem since there are numerous options with varied assisted living costsdepending on the level of care you desire. You can opt for individualized care plans that include basic everyday support, medical services, and any special needs you might have. Be sure to consider a facility with regular social and physical activities like arts, daily walks, birthday and holiday celebrations, and much more.