How much? Often that’s the first question asked when an inquiry calls. Is that really the most important question? Well, yes, except for those fortunate few for whom price makes no difference. In the ballpark: $2,000 to $8,000 per month, depending on the type of facility and services needed.
Some residences charge a flat monthly fee, which will include nearly everything, others charge for each and every ’service’ provided. BE CAREFUL HERE when shopping around. Ask lots of questions as to what is included AND ask for a list of services and fees in advance. What may appear ‘reasonable’ may actually be double the quoted price depending on the needs of your relative. A good non-commercial site about questions to ask and other great links is here http://www.helpguide.org/elder/assisted_living_facilities.htm#cost
Long term care insurance is just now appearing on the horizon. We have seen our first dozen or so residents use this to pay for their care, increasing at a rapid rate with each season. But beware! Not all insurance is comprehensive, so shop wisely if this is something you are considering. Consumer Reports is a trusted site for good solid advice. http://www.consumerreports.org/cro/personal-finance/longterm-care-insurance-1103/overview/index.htm
LTC insurance is the exception for now. Usually the resident themselves pay, most commonly from savings, equity in the form of savings from a recently sold home, or relatives paying for their care. Sometimes relatives become in control of assets to preserve and protect inheritances, or simply to manage funds for those in their care.
There is a whole lot written about protecting assets, and that isn’t what I can address with confidence, but will steer you in the direction of some experienced attorneys (on Long Island) we have dealt with over the years if you’re interested. Again, be careful to make sure you’re getting good advice; find a specialist.
With over a quarter decade in the Assisted Living field, the one constant I have seen over the
years decades is the confusion over the levels of care that are available and which are appropriate.
I am hoping that this is a resource and forum for you to ask those questions and receive some direction.
The biggest question is: What is Assisted Living?
Simply: A supportive housing facility designed for those who need extra help in their day-to-day lives but who do not require the 24-hour skilled nursing care found in traditional nursing homes. http://www.memorydisorder.org/glossaryterms.htm
Or: In Assisted Living facilities, residents live independently in apartment style accommodation, and come and go as they please. We assist them by providing some meals, housekeeping, safety, security and some social programs. Additional planned care, such as bathing, dressing and assistance with medication is available upon request. http://www.retirementconcepts.com/glossary.html
It’s a blend of health care and hotel.
When my brother and I first started in our first facility http://www.babylonbeachhouse.com/ we were known as a Rest Home. Less than half the size it is today, we provided rooms and meals. In the subsequent years, we became known as Adult Homes, providing a little more ‘health’ care, such as assisting with medications and showers, but basically still housing. Assisted Living is now the industry standard name, now with more assistance of ADLs (Activities of Daily Living) available if required. Additionaly, other ‘health’ services are either available or arranged depending on the residents Care Plan.
I do hope you will visit occassionally, ask a question or two.