Assisted Living Communities in Cape Coral, Florida

According to the 2024 Genworth Cost of Care Survey, assisted living residents in Cape Coral see monthly expenses of around $5,675. This rate runs high compared to regional norms, with seniors paying around $1,100 less for residential care in Sebring and over $1,950 less on care in Punta Gorda. Similarly, the local rate surpasses Florida’s median of $4,750 and the U.S. baseline of $5,350.

Assisted living communities in Cape Coral often accept payment from various sources, including Medicaid, veterans’ benefits and personal assets. By incorporating a mix of strategies to pay for assisted living, prospective residents and their families can ensure financial stability and access to long-term care without relying on one single funding source.

• Medicaid: The Statewide Medicaid Managed Care Long-Term Care Program pays for assisted living services in qualified facilities for seniors who meet financial and functional criteria. This program doesn’t cover housing costs, but it funds services such as personal care, meal preparation, transportation and housekeeping.
• Medicare: While Medicare’s coverage doesn’t include nonmedical services, which account for most assisted living services, seniors can use this federal health insurance program to pay for durable medical equipment, rehabilitative therapies and skilled nursing.
• VA Benefits: Veterans who meet eligibility criteria receive an increased monthly pension through the Aid and Attendance benefit, which they use at their discretion for living and long-term care expenses. In addition, the Geriatrics and Extended Care program provides direct coverage for assisted living services.
• Private payments: All assisted living communities accept private payments for housing, personal care services, recreational activities and meal plans. Common sources for this payment option include monthly income, retirement savings accounts, long-term care insurance and annuities.

Compared to other long-term care solutions in Cape Coral, assisted living features moderate rates of approximately $5,675. This fares comparably to the cost of in-home care, which comes in near $5,720. However, it indicates a considerable increase over adult day health care fees of close to $867. Even so, assisted living costs less than home health care and nursing home care, which trend near $6,292 and $10,053, respectively.

The Bureau of Health Facility Regulation is the office of the Agency of Health Care Administration which oversees the licensing of assisted living facilities in Cape Coral and throughout the state of Florida. This office issues licenses and undertakes regular site visits to ensure that facilities are complying with state rules and regulations. 

• Overall, living expenses in Cape Coral outpace the national norm by a little less than 3%. However, assisted living residents expect to spend around 14% below the national average on food and almost 24% less on health care, making the city financially viable for those on fixed incomes.
• Cape Coral has a warm climate that brings hot summers, mild winters and humid conditions year-round. The average daytime temperature in August reaches 91 degrees Fahrenheit, and it may climb as high as 100 degrees Fahrenheit. However, winters are comfortable, with daily average highs around 74 degrees Fahrenheit. Assisted living communities often have amenities such as swimming pools and unit-controlled thermostats to keep residents comfortable.
• Cape Coral ranks in the top half of U.S. communities for safety, appealing to seniors seeking a safe environment for assisted living. Annually, the city reports fewer than one violent crime and nine property-related offenses per 1,000 people.
• Cape Coral has three highly rated hospitals, including Gulf Coast Medical Center, Cape Coral Hospital and Lee Memorial Hospital. Assisted living residents receive a range of services at these facilities, from inpatient and outpatient rehabilitative services to health screenings and prevention services.

• Florida ranks among the most retiree-friendly states in the nation. It has no income tax and sales tax exemptions for medications and food, which promotes financial favorability for assisted living residents.