The Cost of Assisted Living
For those researching assisted living communities, it’s important to understand how pricing works. Many assisted living providers charge a la carte, with fees that can vary widely based on the services needed. These typically include an upfront deposit, a base monthly fee for housing, and additional care service fees that can add up quickly. Many people also mistakenly assume that Medicare will cover assisted living costs. However, Medicare only covers skilled nursing care under specific conditions, leaving a significant financial gap for those who may eventually need assisted living services.
So, how can you plan for this expense, and what options are available to make assisted living more affordable? Let’s dive into what you need to know.
How to Cover Cost of Assisted Living
Assisted living is a significant expense, with costs varying by location and level of care. While Medicare may not help, there are other ways to cover these costs:
- Long-Term Care Insurance: If you have long-term care insurance, your policy may help cover assisted living. Older policies often only cover nursing homes, but most modern policies include assisted living, in-home care, and nursing care.
- Out-of-Pocket Costs: Many people pay for assisted living out-of-pocket, which is why planning for these expenses is so important.
CCRCs: A More Affordable Option in the Long Run
One way to manage the cost of assisted living – and plan for future care needs – is by choosing a Continuing Care Retirement Community (CCRC) like Buena Vida Estates. CCRCs provide a full continuum of care, from independent living to skilled nursing care, all within the same community.
Residents benefit from predictable costs and the peace of mind that comes with knowing their care needs are covered as they age.
At Buena Vida Estates, assisted living is available as part of our all-inclusive community. With a base cost of around $3,400 for one person (and an additional $1,700 for a second person), this monthly fee covers not just the cost of care but also meals, housekeeping, transportation, and a vibrant social community – all included. This predictability can be a game-changer for retirees who want to ensure they’re financially secure, no matter what their future care needs are.
Why Planning Ahead is Key
If you’re waiting to move into assisted living, understanding the true costs of care could be eye-opening. Assisted living can be a significant financial burden if you haven’t planned for it. But by choosing a CCRC like Buena Vida Estates, you can ensure your future care needs are met with no surprises – giving you both affordability and peace of mind.
Learn More About Your Options
Want to understand how Buena Vida Estates can help you plan for your future? Contact us to learn more about our all-inclusive pricing and how we provide high-quality, affordable care for every stage of life.
New blog posts:
What Are Your Priorities for Senior Living Decisions?
When it comes to considering your future plans, your Senior Living options may be remaining in your current home, downsizing, or a retirement community move. But how do you decide which retirement community is the best fit for you?
What is the True Cost of Aging at Home?
The idea of staying in the comfort of our own home as we age often holds a certain appeal. However, what many fail to consider are the hidden costs and challenges that come with aging in place.
Deciding on a Move to a CCRC (Continuing Care Retirement Community)
Moving to a retirement community is a financial decision that some people truly agonize about. While there are many life decisions we make that are also major financial commitments – like deciding to have children or moving to different parts of the globe – people don’t seem to worry about them quite as much as they do the decision to move to a CCRC.
