Memory Care Communities in Tampa, Florida

Memory care costs in Tampa are among the most reasonable in Florida. Residents pay an average of $4,188 per month for comprehensive memory care services, approximately $900 less than the state average and nearly $1,500 less than the national average. In relation to the cities surrounding Hillsborough County, Tampa is one of the least expensive cities in the region, at $1,000 less than the North Port Area and approximately $1,100 less than Homosassa Springs per month. Tampa and its southern neighbor Punta Gorda share the same cost for assisted living. Lakeland, which is located east of Tampa towards the center of the state, offers assisted living care for around $60 less per month.  

Note: Residential memory care is usually offered in assisted living facilities, and in general, memory care rates tend to be 20-30% higher than assisted living rates. No national database currently tracks memory care costs in the United States, so we’ve estimated the monthly memory care costs listed below by adding 25% to the rates listed in Genworth’s 2021 Cost of Care Survey.

Incorporating a mix of financial strategies helps seniors and families afford memory care expenses in the Tampa region. Local communities often accept public and private payment options such as Medicaid, veterans’ benefits and long-term care insurance.

• Medicaid: The Florida Statewide Medicaid Managed Care program houses the Long-Term Care program, which pays for memory care services for qualified seniors. Although SMMC LTC doesn’t pay for housing, its benefits include personal emergency response systems, rehabilitative therapies, personal care services and daily meals.
• Medicare: Medicare beneficiaries use their health insurance coverage to pay for medically necessary services they receive from third-party providers, including medical social services, rehabilitative therapies and skilled nursing care. However, this coverage doesn’t apply to custodial services, housing or meals in memory care communities.
• VA Benefits: Veterans may qualify for two programs with coverage for memory care expenses, including Aid and Attendance and Housebound benefits and VA Health Care’s Geriatrics and Extended Care program. These programs help with paying for room and board fees, meals and personal care.
• Private Payments: Memory care residences accept private payments towards all services, including personal care, meals, transportation, recreation and housing. Common financial streams include pensions, Social Security retirement and disability benefits, long-term care insurance and money from retirement investment accounts.

The cost of memory care in Tampa is around $800 more than that of assisted living per month, mainly due to the extra services and treatment options that seniors with memory care require. Memory care services are also more expensive than adult day health care by more than $2,000 per month. Seniors who utilize in-home care or home health care pay slightly more for services than memory care seniors, an amount that averages around $580 more for home care and around $670 more for home health care. A semi-private room in a nursing home is $8,927, more than twice the cost of memory care services.

In Florida, memory care communities fall under the purview of the Division of Health Quality Assurance, a division of the Agency for Health Care Administration. The Health Quality Assurance division is responsible for the licensure and regulation of all manners of health care providers, including memory care facilities, and must conduct regular onsite evaluations and investigate care complaints as necessary.

Benefits

• Tampa joined the AARP Age-Friendly Network in 2021 and has since created a welcoming environment for seniors through health care policies, affordable housing initiatives and ADA-accessible transportation services.
• Tampa experiences warm weather throughout the year, benefiting memory care residents who enjoy therapeutic outdoor activities such as gardening. While summers bring humid conditions and hot temperatures around 90 degrees Fahrenheit, winter weather has pleasant daytime temperatures around 70 degrees Fahrenheit.  
• Tampa has several high-performing hospitals that support seniors with chronic diseases such as dementia. Tampa General Hospital ranks among the top in the nation in eight specialties, and the H. Lee Moffitt Cancer Center and Research Institute earns national recognition for innovative cancer treatment. Additionally, AdventHealth Tampa offers a range of neurological and neurosurgical treatment options, including diagnostic testing for dementia.

Drawbacks

• Per square mile, Tampa sees around 82 crimes annually compared to the national median of 27 and Florida’s norm of 39. However, compared to other large cities, Tampa’s crime rate falls below the norm, providing peace of mind for families with loved ones in long-term care.
• Tampa’s cost of living tracks about 1% higher than the national norm, which may impact memory care costs. Fortunately, many communities in this city accept the Statewide Medicaid Managed Care Long-term Care Program, promoting access to care for those with budgetary constraints.