You may be just starting your research into memory care costs. There are many factors to consider, including location, amenities, services offered, size of the apartment or floor plan, and medical services needed. The move into memory care takes a bit of planning and the earlier you can start, the better.
What is Memory Care?
Memory care is specialized care for those living with dementia, including Alzheimer’s and other memory loss conditions. Memory care communities offer special features such as secured entryways, wayfinding design features, unique therapies and activities.
How Much Does Memory Care Cost?
The cost of a memory care community varies by location and services offered, but most include community fees, monthly expenses and other charges. When researching the costs of communities, ask if prices increase annually and at what rate.
Since Alzheimer’s, dementia and other memory loss conditions require specific care, these communities have a lower resident-to-staff ratio and caregivers are specially trained. As you’d expect, those living with memory loss require focused attention around the clock, so that type of care costs more.
How to Pay for Memory Care Costs
As you plan for assisted living, what current resources do you have at your disposal for paying for senior care? Some assisted living facilities offer methods of payment you may qualify for. A few sources of funds and/or financial assistance could include:
- Retirement savings or investments
- Personal or family funds
- Veterans Affairs Aid and Attendance Benefits (for you or a family member)
- Long-term care insurance policy
- Social Security Disability Insurance (SSDI)
*Be sure to talk to your financial advisor about using life insurance funds or choosing a reverse mortgage before taking action. It’s important to understand all of the details in the fine print before making big decisions about your assets.
Find Memory Care for Your Loved One
Although paying for care is a reality, ultimately the quality of care your loved one will receive is the most important factor. You may have complicated feelings about moving someone to memory care. Depending on your loved one’s needs, in-home Alzheimer’s or dementia care may be a better fit at this time.
Please call 866.618.7827 or contact a BrightStar Care agency near you to find the right solution for your budget and family. We can provide a tour, discuss your family member’s needs and share details about memory care costs.