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Why Is Assisted Living So Expensive?
Date Updated: July 26, 2024
Written by:
Rachel Lustbader is a writer and editor with a background in healthcare and technology. Her work has been published on websites including HealthCare.com, BiteSizeBio.com, BetterHelp.com, Caring.com, and PayingforSeniorCare.com. She studied health science and public health at Boston University.
Both of Rachel’s grandmothers had very positive experiences in senior living communities, and Rachel saw firsthand the impact that kind, committed caregivers and community managers can have on seniors’ and their family members’ lives. With her work at Caring, Rachel hopes to help other families find communities, caregivers, and at-home products that benefit elderly loved ones and make life less stressful for family caregivers
What factors affect the cost of assisted living?
Many factors affect the cost of assisted living, such as the type of care required, the size of the facility, the type of room selected and the geographic location. Communities with premium amenities, such as fitness centers and pools, cost more than smaller assisted living communities without these features. The average monthly cost of assisted living is $4,500, projected to increase by about 4% per year. However, some states have a much higher average cost of assisted living than others. In this case, you may consider shopping around for a community in a more affordable area.
Are programs available to help seniors afford assisted living expenses?
Federal, state and local programs could help you or a loved one pay for assisted living. Medicaid has a waiver program that covers part of the cost of assisted living in many states. The Veterans Administration has an Aid and Attendance program that helps disabled veterans pay for assisted living. The Area Agency on Aging offers resources for seniors and can provide information about other assistance programs in a given area.