Trends that will affect Austin seniors in 2019
Rising costs impact long-term care options for some Austin Seniors
Across the board the cost for senior living has been trending upward. It’s been coinciding with the cost of living. Here is a look at what will impact Seniors in Austin in the next year.
“The elderly population has been growing, and its needs range from financial assistance to memory care.
As of November, bills filed for the 2019 state legislative session affecting senior care include House Bill 288, which would increase the minimum monthly personal allowance, or money that Medicaid recipients may retain from their personal income, of an individual in a long-term care; and HB 284, which would require nursing homes to provide a written notice of whether it is certified in Alzheimer’s care.
Sam Harless, Texas House District 126 representative-elect, said he plans to support the needs of the growing elderly population, such as ensuring facility regulations are upheld.
Across the county the cost for senior living facilities has been increasing. “The rough averages for assisted living locally have gone from about $3,000 a month in 2010 to $3,500 today,” Shelley said. “For nursing homes, it has moved from about $4,500 to $5,000 [a month].”
The affordable housing sector offers units for seniors. To qualify for reduced rent, households must earn less than 60 percent of the area median income, according to Affordable Housing Online, which lists low-income apartments by ZIP code or city and also offers a Housing for Seniors guide.
Meanwhile some assisted living facilities in the area are trimming costs for tenants by including more services in their room and board fees, said Alane Roberts, elder care advisor for Assisted Living Locators Northwest Houston.
Currently the average 65-year-old should have $650,000 in savings and $15,000 in emergency funds. However, the average 65-year-old in the Greater Austin area has only $50,000 and no emergency funds, the representative said in an email according the source.”
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