What you should know about assisted living costs
Elders who are able to take enough care of themselves, but still have some difficulties to be completely independent, can move into a retirement care home.
Many elders and retirees are surprised to find out that assisted living costs for retirement and nursing homes are cheaper than they expected. In some cases, daily costs can be slightly less than what they normally used to spend. A monthly fee includes all necessary servicesand it all depends on the facilities that you choose. Charges for living at a nursing home are at least $3,500. Monthly expenses for assisted living retirement homes are around $500. Seniors can eliminate their rent, energy costs, groceries and many other expenditures related to living by themselves. The all-inclusive charge at senior care facilities makes it easy and affordable.
Assisted living costs may differ due to the following factors:
- Dimension of residence: Rooms differ from small one-bedroom rentals in a residential home to large single-family properties in a trendy pension community.
- Individual assistance: Assisted living could be more than just supplying communal meals. It may include support with normal daily activities like, brushing, dressing up, bathing, etc.
- Extra facilities and services: Some retirement apartments offer public areas for socializing and relaxation and others may have a private golf course, therapy, gym and other facilities. For an additional charge, shopping, cleaning, transport and laundry may be available.
- Health-care needs: People with a long-term sickness or a disability may be entitled to care from qualified professionals.
Benefits you can get for staying in your private home
There some network services and government plans that help with expenses so that your private property remains affordable. Many of these benefits are only available to people with a minimal income.
- Your community retirement center may have volunteers who help retirees with a wide range of needs, like shopping, gardening and transportation.
- If you have difficulty preparing meals for yourself, your local authority or council can deliver cheap dinners to your home. This service is known as ‘meals on wheels’.
- You may receive cheaper rates on energy bills. You should contact your energy supplier to find out more.
- Your local government may cover partial costs for ongoing assistance, if you have a disability or a chronic illness. They can also arrange for someone to come and help you with your daily tasks.
- You may get financial support if you need one or two visits by a physical therapist or a health-care worker right after hospitalization.
Moving into a retirement complex
People who move from a private house to a senior retirement property, could still be entitled to help with costs towards meals, energy bills, transportation, and so forth. Most of these benefit plans are based on your annual income and possessions. If you sold, for instance, a previously owned house and put the money in your bank account, you would be ineligible for help as a result in a rise of assets. However, if you sell a small residence and re-invest the money into a senior property for an equivalent price, you could still get some help. If you choose to rent a retirement complex unit, you can look for a property where the rent is partly subsidized by the government.