According to the U.S. Department of Health and Human Services, “someone turning age 65 today has almost a 70% chance of needing some type of long-term care services.”
This just goes to show that if you’re planning for the future or looking for care for a loved one, it’s a good idea to take long-term care such as assisted living or skilled nursing into account.
But how much will it cost? To help you plan for the future, let’s take a look at some average assisted living community costs.
Assisted Living Cost
The cost of assisted living differs by community. Depending on the community and the services offered, costs can range anywhere from around $3,000 per month to upwards of $6,000. You’ll likely find that the cost can also vary within the community itself based on the different assisted living apartment types the community offers.
You can find regional and national averages online, though, to help plan for the future. Genworth, a respected insurance company, developed a helpful cost of care tool that pulls from cost data gathered from annual surveys. It offers cost breakdowns by payment period, region, and care type.
What’s Included in the Cost of Assisted Living?
The monthly cost pays for an assisted living apartment as well as numerous services and amenities.
In assisted living, residents receive assistance with daily living tasks such as grooming, dressing, or dining. Other services include:
- Health care support
- Medication management
- Emergency response systems
One benefit of assisted living communities is the social atmosphere they provide for residents. A quality assisted living community will offer daily events and scheduled outings designed to encourage interaction and foster a sense of community among residents. There are no extra fees associated with these activities—all residents are welcome and encouraged to participate.
When you tour a community, be sure to ask what costs are not included. While most things will likely be covered in the monthly fee, some communities may charge fees outside of the monthly fee for things such as certain utilities.
For more on assisted living and what it offers, read our blog, What Is Assisted Living--And Who Is It For?
Paying for Assisted Living
Most seniors pay for assisted living out-of-pocket, as it is typically not covered by private insurance plans (at least not fully).
Long-term care insurance is another way of paying for assisted living, as it will often cover costs not covered by health insurance or Medicare. If the senior is a veteran or the spouse of a veteran, they may also be eligible for assistance from the Department of Veterans Affairs.
Does Medicare Cover Assisted Living?
Medicare does not cover assisted living. Medicare Part A will cover up to 100 days of skilled nursing facility care after a hospital stay, but it will not cover anything beyond that and will not cover an assisted living community.
Finding the Right Assisted Living Community
Cost is one consideration in the search for an assisted living community. Equally important, though, is the quality of the community, the services provided, and the overall atmosphere. One of the best things you can do during your search to determine how communities stack up in those areas is to tour. That way, you’ll be able to ask questions about costs, services, and staffing, as well as get a feel for the community in person.
The Esquiline offers assisted living as part of the continuum of care offered at our Life Plan Community. If you’re looking for assisted living for yourself or a loved one, you’re welcome to schedule a tour.