The 3 Best Memory Care Facilities in Waterville, ME for 2024

 

The age-friendly community of Waterville has nearly 16,000 residents, over 17% of whom are at least 65 years old and at an increased risk for developing dementia. Despite the city’s relatively large senior community, the number of Alzheimer’s-related deaths has decreased drastically in recent years, perhaps due in part to effective dementia care solutions. The Centers for Disease Control and Prevention show that in 2020, 60 people died from Alzheimer’s, down about 19% compared to deaths in 2016. At the beginning of this reporting period, about 8% of deaths in the region were linked to Alzheimer’s.

Memory care communities provide nurturing, secured environments for seniors living with dementia, making them a practical solution for changing care needs. These facilities have highly trained caregivers and administer evidence-based programming to engage residents and help them maintain cognitive functioning for as long as possible.

Through this guide, readers can learn about how much dementia care costs in Waterville and the most common ways to pay for services.

Maine’s Department of Health and Human Services monitors and licenses memory care communities in Waterville and the rest of the state. In addition to standard assisted living regulations, these facilities have to follow guidelines related to staff training, care planning and security features to ensure a safe and enriching environment for residents.

 

• Waterville is listed on the AARP Age-Friendly Network for the welcoming environment it provides seniors. It earns a relatively high livability rating of 59 for its transportation amenities, senior-friendly housing and access to health care.
• Northern Light Inland Hospital is located in Waterville proper, promoting access to a range of medical services. This 48-bed community hospital campus offers cardiovascular care, rehabilitation services and primary care services, as well as a walk-in clinic for urgent medical needs. This may make long-term care in Waterville a practical option for seniors managing chronic health conditions.
• Maine doesn’t tax Social Security benefits, but other forms of retirement income are fully taxed at relatively high rates (between 5.8% and 7.15%). Some seniors who receive public pension income are eligible to claim a deduction to minimize their tax bill, which can help them afford memory care services.
• Waterville’s cost of living is very low compared to state and national norms, which may make the city a favorable option for those with budgetary considerations. On a 100-point scale based on national norms, the city scores 78.7 versus a state score of 97. Housing prices are very low, which may support competitive residential care costs.
• On a 10-point comfort index, Waterville scores 9.2, well above the national score of 7.8. Winters in this city are very cold, with nighttime temperatures in the single digits and 71 inches of snowfall, but summers are comfortable, with average highs around 80 degrees. Memory care communities in this region have secured outdoor common areas and locked and monitored exit points, keeping residents safe during cold weather.

Note: Residential memory care is usually offered in assisted living facilities, and in general, memory care rates tend to be 20-30% higher than assisted living rates. No national database currently tracks memory care costs in the United States, so we've estimated the monthly memory care costs listed below by adding 25% to the rates listed in Genworth's 2021 Cost of Care Survey.

In Waterville, memory care facilities charge $6,855 per month for care.

In comparison to Waterville's average rates for memory care, state norms are several hundred dollars higher at $7,331, and nationally, facilities charge lower monthly rates of $5,625. While seniors may save about $900 per month by opting for memory care services in Bangor, Waterville is an economical option compared to Portland, where rates are higher at $8,156. In Manchester, NH, rates significantly exceed Waterville’s norm at $10,076, and in Burlington, VT, care costs are about $1,100 over the local average.

Memory care is among the more expensive senior care options in Waterville, at $6,855. Only nursing home care, which provides around-the-clock medical support, is costlier at $9,885 for semi private accommodations. Seniors who receive standard assisted living services pay approximately $5,484 per month for residential care, and those who obtain private care at home pay $5,339 for in-home care and home health care.

While many families use their own funds or personal assets to pay for memory care, there are plenty of additional options to cover these costs. Some additional ways to finance memory care costs include:

 

• Veterans Benefits
• Life Insurance Policy
• Long-Term Care Insurance
• Reverse Mortgage

 

For more information about different ways to finance memory care, visit our Memory Care in Maine page.