Assisted Living Cost
When considering various options for senior care, it is important to know how much you can expect to pay for different types of care settings. Assisted living cost varies depending on several factors which typically include: geographic location, the size and location of the apartment within the community, and the level of care required at any particular time during a resident’s stay. There are additional costs for assisted living that will be discussed below as well.
Geographic Location
Just as the cost of real estate varies by geographic area, assisted living costs also vary nationwide. According to a 2008 MetLife Mature Market Study, the national average for assisted living base rates is $3,031 per month. In 2007, the average base rate was $2,969, which represents an increase of 2.1% per year. However, existing residents of assisted living communities can typically expect a 3-5% annual increase in their base rate. For the year 2008, the lowest assisted living cost could be found in North Dakota at an average base rate of $1,980 per month. During that same year, the state of Maine (Southern Maine, specifically) charged the highest assisted living cost at an average base rate of $4,708 per month.
Size & Location of Apartment
Residents of assisted living communities can typically choose from several apartment types and sizes, including studio, studio alcove, one- and two-bedroom apartments. The size of an apartment determines its base rate as does the location of the apartment with regard to view, proximity to elevators and public areas, and availability of a private patio or balcony. While it’s common for families to prefer larger apartments for their loved ones, it’s important to remember that the entire community becomes a resident’s home. In addition, those with mobility issues have a higher risk of falling, particularly during the night, in apartments that require more walking between the bedroom and bathroom.
Level of Care Required
Upon admission and when residents require assistance with activities of daily living (ADLs), an assessment by a licensed nurse is provided to determine additional assisted living costs. In most cases, a point system or levels of care are used to represent the costs for assisted living services. When a point system is used, each type of care and the frequency of which it’s provided determines the assisted living costs. For example, medication management/administration once a day may cost an additional $150 per month while the same service provided three times a day may cost an additional $300 per month. Levels of care may be based upon a point system as well while this type of cost determination often offers less flexibility in assisted living costs. For example, a resident may fall between a Level One and a Level Two but they must pay for the additional level of care as their needs exceed Level One.
Additional Costs for Assisted Living
Assisted living communities charge a refundable deposit fee, which secures a particular apartment within the community for a specific period of time (usually two weeks). Once a resident moves in, this deposit usually applies towards a community fee (terms for the name of this fee may vary). Ranging from $1,000 to $5,000, this fee is non-refundable and covers administrative expenses and the cost of apartment renovations between residents. Other assisted living costs may include fees for private transportation, off-site activities, guest meals and use of a guest apartment within the community.
Written by gerontologist Sara Shelton.