Cost Trends in Nursing Home and Assisted Living Care

There are so many families today who have an aging senior loved one in their family who requires some type of care. This is very common for countless families and is a big decision for everyone involved. When it comes to discussing senior care, especially nursing home and assisted living services, one of the biggest questions that tends to arise is “how much is this going to cost?”

Many families who are considering nursing homes and assisted living communities have never had any experience with these types of care facilities before and may not know how much they should or could cost. Even if you have had to consider nursing home care in the past, this market is rapidly changing and costs are likely much different today than they were even a few years ago. With this in mind, here are some facts about what you can expect with senior nursing home and assisted living care trends in 2017.

Important Trends to Understand About Senior Cost of Living

The senior living market is changing rapidly, which means if you are consider care for a parent or loved one, you need to be abreast of these changes, even if you aren’t sure if you will need care or not. Here are a few important facts to understand about the senior care market in the year 2017.

  • The consumer cost of senior living is growing rapidly—faster than inflation.
  • Although senior care is growing fast, it is slower than health care costs and home sale prices.
  • In 2016, the cost growth rate of senior care actually slowed in the southern U.S., but it grew everywhere else. Just because costs are growing or slowing in one area of the country, it doesn’t mean the same is true of your area of the country.
  • Cities with high cost of living can expect higher senior care costs—this shouldn’t come as a surprise to most consumers.
  • The cost of senior living is changing at a rate similar to the housing rental markets.
  • The average median growth rate for senior care from 2012-2016 was about $62 per year.

What are the Average National Monthly Costs for Care?

The nursing home and assisted living market is changing rapidly, and has been for the past few years. As this market continues to expand and change so has the pricing of care. According to Genworth Financial, the current average monthly costs for senior care in 2017 is as follows:

  • Homemaker services- $3,994 per month
  • Home Health Aide- $4,099 per month
  • Adult Day Health Care- $1,517 per month
  • Assisted Living Facilities- $3,750 per month
  • Semi-Private Room Nursing Home- $7,148 per month
  • Private room Nursing Home- $8,121 per month

Of course, this number can change depending on the individual community and the area you are looking in, but in 2017 these are the average prices that consumers should expect to pay for their care.

The Basics of Memory Care

There are so many families today who find themselves in a similar situation—they discover their loved one is struggling with dementia or Alzheimer’s disease and they need to help them get the care they deserve, only to find out they don’t really know much about memory care at all. This is such a common occurrence among families, as many families considering memory care are dealing with this situation for the first time.

If you are considering memory care for your loved one, but don’t know much about what it entails, here is a basic rundown of what memory care includes and what every family should understand about this type of care before they find a facility for their loved one.

  • Memory care facilities are a special type of assisted living community meant specifically for those with Alzheimer’s, dementia and other memory-related diseases.
  • Memory care offers more than traditional assisted living services but still includes the basics like housekeeping, laundry, meal preparation services and daily assistance with everyday activities.
  • Just like other assisted living communities, Memory Care services can be tailored to meet the needs of each individual person so they can get the specific care they need, yet still live as independently as they are safely able to.
  • Daily activities are a big part of memory care, and they are designed to help those with memory-challenges to keep their minds sharp and active and to reconnect with their favorite hobbies or interests.
  • You will find that in most memory care units, the residents are quite busy during the day and they are on a very set schedule with their meals and activities, this is designed to help limit confusion for seniors with memory-issues and to help make sure their minds are staying as active as possible.
  • Many general assisted living communities will have a Memory Care unit or floor inside of them. This is because so many seniors today struggle with dementia, Alzheimer’s and memory issues and will likely need to be transferred to this type of care at some point.
  • You will find most Memory Care units are designed specifically with safe wandering in mind. They may have a circular design, extra lighting or enhanced security systems. This is because around 60% of individual with Alzheimer’s wander.
  • You will typically find Memory Care rooms won’t have the same in-room amenities as traditional assisted living suites. While they may still have an apartment set-up, they likely won’t have kitchenettes for safety reasons. Many Memory Care rooms are small rooms or suites or roommate style.

If you are considering memory care for your loved one, the more you know about this type of care service, the better. Memory care can be a great asset to any senior struggling with dementia or Alzheimer’s and while it can be difficult to move your family member to somewhere new, these care facilities are trained to make sure your loved one gets the care they need and deserve.