What Are Effective Strategies To Control and Cut Costs in Assisted Living?

Date Updated: July 26, 2024

Written by:

Rachel Lustbader

Rachel Lustbader is a writer and editor with a background in healthcare and technology. Her work has been published on websites including HealthCare.com, BiteSizeBio.com, BetterHelp.com, Caring.com, and PayingforSeniorCare.com. She studied health science and public health at Boston University.

Both of Rachel’s grandmothers had very positive experiences in senior living communities, and Rachel saw firsthand the impact that kind, committed caregivers and community managers can have on seniors’ and their family members’ lives. With her work at Caring, Rachel hopes to help other families find communities, caregivers, and at-home products that benefit elderly loved ones and make life less stressful for family caregivers

Effective strategies to control and cut costs in assisted living include researching local options, choosing a lower-priced accommodation, claiming applicable benefits, being selective when choosing a la carte services and making full use of community amenities and programs. Seniors and their families should make sure they fully understand what base fees include and what assisted living aspects attract additional charges.

Assisted Living Costs and Financial Aid

Genworth’s Cost of Care Survey 2023 lists the median cost of assisted living in the United States as $5,350 monthly. However, exact costs vary widely depending on the location and services. When researching local facilities, expanding the search area may yield more cost-effective communities. Similarly, moving to an entirely new location can sometimes significantly slash monthly rates.

Assisted Living Options

Many assisted living facilities have accommodations at varying price points. For example, seniors can expect to pay less for a companion suite or studio than for an apartment. Additionally, communities typically offer a la carte packages, meaning that individuals only pay for the exact services they require.

Residents can cut costs by using community resources as much as possible, such as joining scheduled shopping trips and outings rather than paying for transport. They can also take advantage of scheduled enrichment and wellness activities for more cost-effective options compared to independent recreation. Favoring on-site features, such as TV rooms, libraries, gyms and swimming pools, also saves money over visiting off-site amenities.