Memory Care Communities in Anderson, Indiana

Memory care in Anderson is moderately priced at $4,619 per month, lower than the corresponding Indiana and U.S. averages of $5,354 and $5,625. Statewide, dementia care fees range from $4,063 in Kokomo to $6,569 in Lafayette, with Anderson leaning more toward the lower end of the scale. At $4,521, communities in Michigan City charge a little less than those in Anderson. Older individuals in the state capital of Indianapolis usually pay more, around $5,598 each month for residential memory care.  

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.

The median price of memory care in Anderson is $4,619 per month.  

While many families use their own funds or personal assets to pay for memory care, there are plenty of additional options to cover these costs. Some additional ways to finance memory care costs include:

• Veterans Benefits
• Life Insurance Policy
• Long-Term Care Insurance
• Reverse Mortgage

For more information about different ways to finance memory care, visit our Memory Care in Indiana page.

Living in a memory care facility in Anderson costs roughly $924 more each month than residing in an assisted living community and $234 more than receiving personal care assistance through in-home care services. Adult day health care is the lowest-priced local care option, with a median monthly rate of $2,248. Seniors who require the medical services of home health care pay about $148 more each month than memory care residents. Nursing homes are the costliest choice, charging $6,649 per month for semiprivate accommodations.    

Indiana State Department of Health’s Division of Long Term Care oversees memory care communities throughout the state, including those in Anderson. The department is responsible for issuing facility licenses, making sure they adhere to licensing terms and inspecting communities on a regular basis. 

 

• Anderson offers a relatively low cost of living that’s almost 30% lower than the national norm. Overall, local costs are also lower than the state average, with noticeable savings for housing, groceries and utilities. Seniors with dementia may find the fixed fees of memory care easier when it comes to budgeting monthly costs, and the Medicaid Aged and Disabled Waiver can help qualified individuals pay toward their care.  
• Anderson has 121 doctors per capita, which is fewer than the nationwide average of 210. On the plus side, medical care, such as physicians' appointments and hospital procedures, is about 15% more affordable in Anderson compared with the national average. Additionally, the city scores 9 points higher than the U.S. median when it comes to air quality.
• Two 24-hour hospitals serve Anderson’s residents: Community Hospital Anderson and Ascension St. Vincent Anderson. Both facilities have emergency rooms and provide comprehensive medical services in a wide range of specialties, including surgery, orthopedics, cancer and diabetes. Additionally, Ascension St. Vincent Anderson offers yearly wellness visits for seniors aged 65 or older and in receipt of Medicare Part B.  
• While Anderson’s violent crime rate is lower than the national average, property crime is more widespread. The city scores 61 for property crimes compared to the U.S. average of 35.4. Living in a secure memory care community among peers and with 24/7 staffing may provide reassurance for seniors who are apprehensive about living alone.
• The sales tax rate of 7% in Anderson is slightly lower than the average national rate of 7.3%. Income is taxed at a higher rate than the national norm, but Indiana doesn’t tax Social Security benefits. The state also provides several tax breaks for seniors.