Assisted living may be the solution when a loved one needs more assistance than friends and family can offer. Learn more about the expenses of this kind of care and the many payment options.
Statewide costs differ. By reading on, learn more about the cost of assisted living in New York cities like Watertown, Ithaca, and Syracuse compared to the national average.
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Costs for Care
Most assisted living residences will complete care needs assessment before quoting prices. This helps to ensure the community, such as Aviva Assisted Living, will offer services your loved one will benefit from. Assisted living communities often use all-inclusive pricing models, which bundle rent, services, and other fees into a single monthly price.
This model helps avoid the confusion of a la carte pricing and allows for easier budgeting. This means your family can relocate to an assisted living community earlier rather than later. It’s worth noting that long-term care (LTC) insurance plans typically cover assisted living costs. But you must purchase these policies years in advance, which can be a barrier for many families.
Costs for Meals
Many seniors are accustomed to living independently, but as they age, their needs change. It can become more difficult for them to maintain their homes, cook, and manage daily tasks such as taking medication and getting dressed. In these cases, assisted living can provide a safer and more comfortable option for them.
Depending on the facility, some charge one flat monthly fee, including most utilities, housekeeping, maintenance, and meals. Others may bill residents and their families on a per-service basis.
Mary’s son has noticed she’s losing weight and forgetting to take her pills. If she moved into an assisted living community, her medications would be managed, and she’d get nutritious, prepared meals. In addition, she’d have access to social and wellness activities that keep her active. Most importantly, her son would have peace of mind knowing she was safe.
Costs for Transportation
Most assisted living facilities offer scheduled transportation to nearby shopping areas, doctor’s offices and other destinations. This transportation is usually in the form of a passenger van or small bus accessible to seniors who use walkers, wheelchairs and mobility scooters. Transportation costs are often included in the monthly assisted living rate.
Most senior families pay for assisted living out of their funds, pulling from their savings and pooling resources such as retirement accounts and investments. Many seniors also tap into long-term care insurance policies, which cover a portion of assisted living costs.
However, these policies usually need to be purchased years in advance, and many people don’t realize that they may be unable to afford them when the time comes. Some states offer waiver programs to help low-income seniors afford assisted living, and it’s worth talking to your local resources to learn more.
Costs for Housekeeping
It’s important to ask the communities you’re considering about their fee system. Some have a monthly base package that includes many services, while others charge on an a la carte basis. Ask what services are included in the base monthly fee and how they’re calculated.
Some ancillary fees include hairdressing, laundry, personal toiletries and medication management. Many communities also offer other activities, like field trips or parties.
In addition to the cost of living, there are often moving charges, such as hiring junk removal service and paying movers, as well as other miscellaneous expenses that come with making a big move. The costs of assisted living can drain a retiree’s savings quickly. To offset these costs, many consumers use a combination of current income from social security and pensions, assets and the proceeds from selling their home. Many seniors also take long-term care insurance or utilize a Veterans Aid and Attendance benefit.
