Residents in assisted living facilities can have a greater quality of life than if they were living alone. Daily check-ins and assistance ensure that the residents’ basic needs are met. In addition, transportation and planned activities keep seniors connected and engaged.
The average cost for living in an assisted facility in the United States is between $30,000 and $80,000 annually. The monthly average is about $4,050 for the base cost and increases with each additional service.
Some facilities are more budget-friendly, while others have more luxurious amenities or additional services. Facilities that receive government grants are more affordable, and prices vary by state and neighborhood.
Assisted living facilities may sound impractically expensive based on the services they provide. However, seniors can find assistance paying for these costs through programs like Medicare and Medicaid.
Medicare is the federal health insurance program that provides qualified seniors with medical coverage. While Medicare does not pay for long-term housing and care, it can pick up some medical costs. However, it will not cover any personal or custodial care expenses.
Medicaid is another federal health insurance program that provides medical coverage to low-income individuals. It, too, will cover some assisted living services, such as:
- Health assessments
- Case management
- Medical exams
- Medication management
- Nursing care
Seniors may also get financial assistance from the Section 202 Supportive Housing for the Elderly Program. This grant pass does not go directly to seniors but makes it possible for them to obtain affordable housing from a private nonprofit organization that received the grant.