How Much Assisted Living Costs
Assisted Living Care: Page 2
What can we expect to pay?
Costs and payment plans will vary, but most assisted-living communities charge a flat fee to enter and a monthly rate after that. In many, the monthly rate may increase as the person's need for hands-on care and assistance with activities of daily living increase.
Some, however, have a fee structure more like that at a continuing care retirement community, where residents pay a significantly larger entrance fee but the monthly rate is set and shouldn't go up even if their needs change.
Most communities will start with a monthly rate of at least $2,000, and some can go as high as $10,000, says Donna Quinn Robbins, CEO of Ultimate Moves and author of Moving Mom and Dad. According to ALFA, the median monthly rate for assisted living is $2,350, about two-thirds of what it would cost to stay in a skilled nursing facility.
Make sure you ask whether (and how much) costs will rise if care levels increase, advises Robbins, and whether the monthly rate is all-inclusive or there are additional fees for particular services.
Also find out how much the annual cost-of-living increase has been for the past few years, and whether they will refund your deposit if you change your mind or things don't work out.
Do government programs cover any of the cost?
Government support for the cost of assisted living is very limited, and the great majority of residents pay for their care themselves (or with family support).