Assisted living is an expensive option for people that must rely on private pay in order to receive their daily assistance. Most people that are in assisted living facilities rely on paying out of pocket or on their private insurance. Only a few beds per facility are left open for people that receive Medicaid.
Prices for assisted living can run into the thousands of dollars. Some people may pay upwards of $2,000 per month – often private insurance does not cover all of the a la carte services we’ve described in previous posts. This means that the resident can run out of money, fast, and end up needing to apply for Medicaid which in turn may mean that the resident will need to move to another facility or may be forced into a nursing home.
A fast growing and more cost effective solution for some is to use home care agencies in place of assisted living. The individual is then able to stay at home and age in place. Most of the time the agency provides a personal care aide for people that do not need a lot of assistance with their daily activities. They may only need a little help with certain things, like dressing or just getting out of bed/chairs.
Medicare covers the cost of some of these services and Medicaid may cover the rest if someone does not have or cannot afford private pay insurance.
However, if you try to use home care for 24 hour care, you can end up paying even more than the ALF or Skilled facility bill! If you are trying to keep your costs lower, then choosing an aide or companion that does not provide any medical care is the best option. If you need more help than a personal care aide can provide, assisted living may be the best choice in the long run.
As always, if you or your loved one needs intense care, it is best to choose a skilled facility. While the cost is much more than other options at first glance, recreating a nursing home in your own home is far more expensive.
Tags: Assisted Living Facility, Assisted Living Facility Cost, Assisted Living Facility Services, Home Health Aide, Home Health Care, Senior Citizen, Skilled Nursing Facility
