How to Plan for Assisted Living and Memory Care Costs

Posted by Mandy Quinn on July 31st, 2022

Planning for assisted living costs means knowing in advance the costs associated with long-term care and how the family will manage to cover them when the time comes.

It's good to sit down with your loved one to discuss the finances, needs, and preferences in advance if possible.

Consider priorities when it comes to finding an assisted living facility that best suits the needs of the family member. You may need to compromise on a few things, which is not easy but planning them in advance prepares you for when you’ll be faced with the decision.

To Properly Plan for The Costs:

Know What to Expect

When planning for assisted living, the first thing you should do is monitor the average costs. The cost of assisted living is not consistent; it changes over time. You cannot predict what the costs will be when the time comes for your loved one to move into the facility. But you can research the current rates of assisted living and have a rough estimate of what to expect.

Understand Your Options

Assisted living costs vary depending on the facility and a person's level of memory disorder. The facility will assess their condition and match it with the level of care they'll need.

Take time to visit different communities to compare their rates. The options you have will help you make an informed choice of the assisted living community. Look for a place that offers all-inclusive pricing to help make budgeting easier.

Look into Other Available Benefits

Your loved one may qualify for government assistance for people with Alzheimer's, Parkinson's disease, and other forms of dementia. Research the benefits available through government programs that may qualify them for help covering housing, health care, and medication costs. If your loved one qualifies, it can help you manage the costs of assisted living.

Get a Roommate

This is one way to cut assisted living costs. Some facilities offer shared residences helping to lower the costs and ease your burden. They may also offer all-inclusive pricing, which helps manage your expenses combined with sharing the residence with a roommate.

About Author

The Cottages have been operating in Texas since 1997 and are family owned and operated by The Cottages Senior Living. The Cottages are state-of-the-art certified assisted living residences for people living with Alzheimer’s and other memory disorders.