At first glance the costs associated with entering an assisted living facility seem astronomical. Depending upon the level of care required the cost can be between $35,000 and $40,000 annually. How much does this assisted living cost work out to per month? Roughly $3,000 or more. If the resident suffers from Alzheimer’s Disease, then the assisted living cost can go up to $50,000 per year or higher.
Many people look at those numbers and conclude that an assisted living facility is beyond their financial capabilities. But consider the expenses that go away while living in an assisted living facility: the resident of such a home is no longer responsible for paying to maintain their residence. They also do not need to pay the resultant property taxes and insurance. If they have been making use of a private care service, then this will no longer be necessary. Additionally, some residents, whether by choice or necessity, will give up their vehicle when moving out of their home. No longer having a car payment or being required to maintain a car can erase a significant financial burden.
Assisted living cost will vary depending on location and the level of care that is provided. Costs tend to be lower in rural settings than they are in more central or metropolitan areas. Some people open up their private homes as assisted living facilities and these services generally cost less than do those in larger facilities.
In many cases the monthly payment to the assisted living facility pays the rent on a private room or apartment. Most of these apartments have doors that individually lock, granting the residents true privacy when they desire it. The cost of living at the facility often also includes meals and snacks, entertainment and assistance with daily living activities. This assistance may include help with dressing, moving around the facility, bathing or toileting. Each resident receives individual care that meets their specific needs. Some retain quite a bit of independence, but nonetheless appreciate the opportunity to live in a communal atmosphere with people their own age.
It is this communal atmosphere that is perhaps the one aspect of the cost of living in an assisted living facility that is not at all out of line. People living in a group setting as they age engage more often in group activities. Perhaps they take a class together or simply sit in an atrium and chat. They may go on various outings in the community or enjoy performances by local artists. Such enrichment activities keep the residents involved and active. In fact, residents in assisted living facilities tend to lead longer, more fulfilling lives than their counterparts who live on their own.
The cost of moving into an assisted living facility may seem impossibly high, but after carefully considering all that is included and the benefit to the resident the expense begins to seem quite reasonable. These facilities provide a homelike atmosphere that is pleasant, congenial and active.
Get even more info about How Much Assisted Living Costs in our complete guide with state by state financial cost breakdown.