ArtsAutosBooksBusinessEducationEntertainmentFamilyFashionFoodGamesGenderHealthHolidaysHomeHubPagesPersonal FinancePetsPoliticsReligionSportsTechnologyTravel

Can You Afford Assisted Living?

Updated on July 19, 2013

Assisted living may become a necessary option if you can no longer fully do things for yourself but do not require the around-the-clock care and supervision that would normally be found in a nursing home. Individuals who live in assisted living residences are usually able to take care of themselves for the most part, although they are not independent enough to live alone.

What Is Assisted Living?

Assisted living residences can range from the very small to the very large. The smaller residences may only house a maximum of three or four people, while the larger residences can easily accommodate hundreds of residents. The residences themselves often vary a lot. At the most basic level, residents may have their own bedroom but must share bathroom, dining and living facilities with other residents. At the other end of the scale, residents may have their own private apartment.

How Much Does It Cost?

Assisted living accommodation generally starts at around $800 per month, but can rise to as much as $6,000 per month. The average monthly cost is between $2,500 and $3,000 per month. This will often be largely dependant on the location of your assisted living accommodation, as some areas will be a lot more expensive to live in than others. Other factors that affect the cost of assisted living accommodation include the size of your accommodation and the type of assistance services that you need as part of your residence. For example, if you have your own private apartment and are living in an area that is reasonably expensive, you can expect your assisted living accommodation to cost considerably more than someone who is living in assisted living accommodation in a cheaper area and shares bathrooms and other living facilities with other residents - even if the latter individual requires more assistance services than you. Sharing a room works out cheaper than having your own room, but this is not necessarily a desirable option. 

While the cost of assisted living accommodation may sound very expensive, it is generally a lot cheaper than living in a nursing home. The average monthly cost of nursing home care is in the region of $6,300 per month, while the average monthly cost of assisted living care is around half this at $3,000. Over the course of a year, assisted living accommodation costs around $35, 600 per year. Private accommodation in a nursing home will cost an average of $77, 700 per year. If you require significant levels of care due to health conditions, you can expect the cost of assisted living to rise quite significantly. For example, the average yearly cost of assisted living care if you have dementia is around $55,000. 

In addition to monthly or yearly living costs, you may also have to pay an "entry" fee to be granted assisted living accommodation in the first place. This can be as much as $60,000. 

Is Financial Help Available?

You may be able to receive Supplemental Security Income (SSI) assistance to cover some of the costs of assisted living. While this will not cover the full cost of assisted living accommodation, it can go some way towards easing the financial burden. Many US states limit the amount that you can receive from SSI, which can have a big impact if SSI is the only financial assistance that you are eligible to receive. 

In some states, the Medicaid program will cover some aspects of assisted living. This will usually involve moving to specific assisted living communities that participate in the program, so you do not have the luxury of being able to choose your assisted living community if you go through this program. To qualify for Medicaid in the first place, you are generally required to be on low income and have few assets (other than your home). A typical beneficiary of Medicaid will have a low pension and little in the way of savings.

Comments

    0 of 8192 characters used
    Post Comment

    • profile image

      Junior  7 years ago

      Kay,

      I really feel that you are one of the people that 'gets' it... I work for a private company that assists in the specialized needs and services for Alzheimer and dementia patients. We have a staff of OVER 115, with ONLY 75 patients here and the average price point is 4500.00/month. We are a specialized facility and the care here is beyond reproach!

      I used to work in a government facility and it was 'free' and by free, I mean horrible!!!!! The walls were white and sanitary and the people were miserable (they are even locked in their rooms at night so they wont wander off)... and the smell of urine permeated the entire facility!

      At the place I currently work, there are gardens, walkways, koi ponds, the people here get their own room and countless other perks that were never 'free' at the government facility... even the freedom to roam the 6+ acres that are accessible to them!

      Please remember that freedom is never free!

      and you should read some of the horror stories online about government facilities in general... it will disgust you.

      If memory serves me correct, everything in the former Soviet Union was free too... look how that turned out for all the old people!!!

    • profile image

      Kay 8 years ago

      Assisted living facilities are private for profit corporations with thousands of employees on their payroll, How can they possibly give free care? I do not understand why people think the government is responsible to provide food, shelter and medical care to anyone who feels they can't afford it. the government is supposed to provide military protection, law enforecement, and infrastructure. Besides, where do you think the money for "free" services comes from? Tax dollars. that means your dollars. There is no such thing as a free ride.

    • profile image

      Dippykitty 8 years ago

      I completely agree. It's really shocking how much assisted living and nursing home accommodation actually costs.

    • Hello, hello, profile image

      Hello, hello, 8 years ago from London, UK

      It is so sad when at the end, after all these years of working hard and saving, it comes to this. It should free. After all people paid a lot of money to the government over the years

    working

    This website uses cookies

    As a user in the EEA, your approval is needed on a few things. To provide a better website experience, hubpages.com uses cookies (and other similar technologies) and may collect, process, and share personal data. Please choose which areas of our service you consent to our doing so.

    For more information on managing or withdrawing consents and how we handle data, visit our Privacy Policy at: "https://hubpages.com/privacy-policy#gdpr"

    Show Details
    Necessary
    HubPages Device IDThis is used to identify particular browsers or devices when the access the service, and is used for security reasons.
    LoginThis is necessary to sign in to the HubPages Service.
    Google RecaptchaThis is used to prevent bots and spam. (Privacy Policy)
    AkismetThis is used to detect comment spam. (Privacy Policy)
    HubPages Google AnalyticsThis is used to provide data on traffic to our website, all personally identifyable data is anonymized. (Privacy Policy)
    HubPages Traffic PixelThis is used to collect data on traffic to articles and other pages on our site. Unless you are signed in to a HubPages account, all personally identifiable information is anonymized.
    Amazon Web ServicesThis is a cloud services platform that we used to host our service. (Privacy Policy)
    CloudflareThis is a cloud CDN service that we use to efficiently deliver files required for our service to operate such as javascript, cascading style sheets, images, and videos. (Privacy Policy)
    Google Hosted LibrariesJavascript software libraries such as jQuery are loaded at endpoints on the googleapis.com or gstatic.com domains, for performance and efficiency reasons. (Privacy Policy)
    Features
    Google Custom SearchThis is feature allows you to search the site. (Privacy Policy)
    Google MapsSome articles have Google Maps embedded in them. (Privacy Policy)
    Google ChartsThis is used to display charts and graphs on articles and the author center. (Privacy Policy)
    Google AdSense Host APIThis service allows you to sign up for or associate a Google AdSense account with HubPages, so that you can earn money from ads on your articles. No data is shared unless you engage with this feature. (Privacy Policy)
    Google YouTubeSome articles have YouTube videos embedded in them. (Privacy Policy)
    VimeoSome articles have Vimeo videos embedded in them. (Privacy Policy)
    PaypalThis is used for a registered author who enrolls in the HubPages Earnings program and requests to be paid via PayPal. No data is shared with Paypal unless you engage with this feature. (Privacy Policy)
    Facebook LoginYou can use this to streamline signing up for, or signing in to your Hubpages account. No data is shared with Facebook unless you engage with this feature. (Privacy Policy)
    MavenThis supports the Maven widget and search functionality. (Privacy Policy)
    Marketing
    Google AdSenseThis is an ad network. (Privacy Policy)
    Google DoubleClickGoogle provides ad serving technology and runs an ad network. (Privacy Policy)
    Index ExchangeThis is an ad network. (Privacy Policy)
    SovrnThis is an ad network. (Privacy Policy)
    Facebook AdsThis is an ad network. (Privacy Policy)
    Amazon Unified Ad MarketplaceThis is an ad network. (Privacy Policy)
    AppNexusThis is an ad network. (Privacy Policy)
    OpenxThis is an ad network. (Privacy Policy)
    Rubicon ProjectThis is an ad network. (Privacy Policy)
    TripleLiftThis is an ad network. (Privacy Policy)
    Say MediaWe partner with Say Media to deliver ad campaigns on our sites. (Privacy Policy)
    Remarketing PixelsWe may use remarketing pixels from advertising networks such as Google AdWords, Bing Ads, and Facebook in order to advertise the HubPages Service to people that have visited our sites.
    Conversion Tracking PixelsWe may use conversion tracking pixels from advertising networks such as Google AdWords, Bing Ads, and Facebook in order to identify when an advertisement has successfully resulted in the desired action, such as signing up for the HubPages Service or publishing an article on the HubPages Service.
    Statistics
    Author Google AnalyticsThis is used to provide traffic data and reports to the authors of articles on the HubPages Service. (Privacy Policy)
    ComscoreComScore is a media measurement and analytics company providing marketing data and analytics to enterprises, media and advertising agencies, and publishers. Non-consent will result in ComScore only processing obfuscated personal data. (Privacy Policy)
    Amazon Tracking PixelSome articles display amazon products as part of the Amazon Affiliate program, this pixel provides traffic statistics for those products (Privacy Policy)