Selling your home and transitioning to senior care is a complex process. ElderLife Financial Services simplifies this process and helps you sell your home.
If you’re planning to move to a senior living community and currently live in your own home, you may need to sell your home to transition to senior care. The proceeds of the sale can also free up capital that will help you cover the cost of living at the facility. Selling your home is one part of the transition to senior living, but it’s a complex task. The transition becomes much easier when you work with industry professionals to sell your home. Here, we’ll explain how ElderLife Financial Services can help you sell your home and move to a senior living community that meets your needs.
How ElderLife Financial Services can help sell your home
Selling your home before moving to a senior living community has many factors. ElderLife Financial Services can help with every part of this process.
Work with ElderLife’s network of Seniors Real Estate Specialists®
ElderLife Financial Services works with a national network of Seniors Real Estate Specialists®, who are Realtors with expertise in selling the homes of older adults. To earn the designation from the National Association of Realtors, agents must complete coursework to demonstrate expert knowledge about the unique needs of older adults and their families. When you work with ElderLife to sell your home, you’ll work with an experienced specialist.
Simplify the process, even if you’re far from the home
Some older adults who want to sell their homes are working with family members to do so. If the family members live far from the home, it can be difficult to find the right local realtor, prepare the home to sell, and get it sold. ElderLife Financial Services’ network of SRES is nationwide, so they can help you find the right expert. These experts are here to assist in the preparation of the home.
In addition to listing and selling the home, ElderLife’s Seniors Real Estate Specialists can help you:
• Declutter and clean the home.
• Make necessary repairs.
• Pack the contents of the home.
• Move the contents of the home.
Prepare for your move to a senior living community
As you wait for the home to sell, ElderLife Financial Services can help you with the other parts of this process. Whether you need to determine the best type of senior living for you or choose the right community, ElderLife can help. Their experts not only help you and your family determine the type of community but can help identify the specific facility to choose.
If you need funding immediately before the home sells, ElderLife’s line of products and services can help you access the money you need now to make your move. Whether the ElderLife Bridge Loan is right for you, or you want to access money from your life insurance policy, ElderLife Financial Services connects you with the funding you need.
When you or your loved one decides it’s time to move from home to a senior living community, ElderLife Financial Services can help with every step of the process. And ElderLife remains by your side to ensure that all other aspects of moving to a senior living community are handled with ease.
Sometimes, the transition to getting senior care can happen quickly. If you need access to funds immediately, a bridge loan might be an option for you.
A bridge loan is a short-term loan that helps someone pay for immediate expenses while they arrange for more permanent funding. These short-term loans typically have a term of up to 12 months.
When a person determines that they need home care or to move to a senior care facility, like an assisted living community or nursing home, this change usually needs to take place immediately. Senior care is expensive, and people may not have the funds available immediately.
In order to pay for senior care, a person may decide to sell their home, use long-term care insurance, life insurance, or another method of payment. As they wait for their home to see or other sources of funding to become available, they may need to pay for the new facility. A bridge loan can help pay for immediate costs while these other funding sources are ready.
When to use a bridge loan for senior care
A bridge loan helps people solve cash flow issues. An example of when to use a bridge loan for senior care is when a family needs to move a family member to a senior care community but is waiting for insurance or the adult’s home to sell. A bridge loan funds pay for the person to move into the community. Then the permanent funding becomes available, the loan is repaid, and the remaining funds pay for the facility.
The Elderlife Bridge Loan
ElderLife Financial Services offers a bridge loan that is specifically designed to help families pay for immediate senior care costs. The application process is fast, and ElderLife Financial staff make the experience simple and straightforward. Loans are approved quickly, and funds are typically released within 24 hours.
While families wait for permanent funding to become available, they don’t have to wait to get the older adults they love the care they need. Families can make payments for senior care easily on the ElderLife Financial website. Payments go directly to the facility or care provider.
The ElderLife Bridge Loan is similar to a line of credit. Borrowers are approved for a maximum dollar amount, but they do not need to borrow all of it. Typically, borrowers use only what they need as they need it. In some cases, the maximum dollar amount can be released in a lump sum. The monthly payment is based on the interest on the amount that has been borrowed, and can be paid on ElderLife Financial’s website.
Benefits of the ElderLife Bridge Loan
Using a bridge loan to pay for immediate senior care costs can be beneficial. Key benefits of the ElderLife Bridge Loan for senior care include
Easy application process. The application requires some information, but it can be completed in just minutes.
Fast approval time. The loans are usually approved within 24 hours.
Include multiple co-borrowers on one application. If an older adult needs to move to a senior care facility, up to six people can apply for the loan. They do not need to be related. Typically, the adult children may include themselves on the application to share the responsibility.
Repay without penalty. The ElderLife Bridge Loan can be repaid without penalty.
Assisted living move-in incentives. Some assisted living communities offer to pay the interest of the bridge loan if the person decides to move to that facility, so the family pays back only the principal — borrowing the money at no cost.
Other considerations for a bridge loan for senior care
Credit score for a single borrower. A fairly strong credit score is required if just one borrower is on the application. With multiple co-borrowers on the application, the credit scores do not need to be as strong.
Interest rates are higher than some other types of loans. Interest rates on the ElderLife Bridge Loan may be high compared to a home equity loan, but they are lower than those of credit cards or other personal loans.
Short-term loan. If the family is not actively arranging for more permanent funding to become available in the next year, they may be stuck with paying back the loan before the permanent funding comes through.
How to qualify for a bridge loan for senior care
A number of factors are considered when a family applies for an ElderLife Bridge Loan.
Credit Scores. If multiple co-borrowers are on the loan, a low credit score may be offset by the higher ones; however, credit scores are considered in the application process
Assets. Borrowers’ assets such as liquid assets, income, and home equity are considered.
Other funding sources. The family typically needs a bridge loan for immediate funds while they wait for other funding to become available. Other funding may be VA benefits, insurance, or proceeds from the sale of a home. ElderLife Financial asks this question to know the source of the other funding that the family is waiting to receive.
Some factors are not considered when applying for an ElderLife Bridge Loan:
Age of the person who needs senior care.
Health condition of the person who needs senior care.
Marital status.
Bridge loans for senior care are short-term solutions to immediate financial needs that can help families get the care they need for their loved ones. If you or a loved one needs senior care and are waiting for other funds to become available, applying for an ElderLife Bridge Loan can help you get the care you need.
When a person needs senior care services, the transition may be immediate. If you have unexpected and immediate expenses, a personal loan can help.
People may need quick access to money to fund an emergency, life change, or other larger personal expenses. When other funding options are exhausted or not available, people can turn to a personal loan. Older adults or their family members can use a personal loan to pay for senior care expenses when other funding sources are not readily available.
To secure a personal loan, an individual may borrow money from a financial institution. The borrowers repay the lender over a timeframe agreed upon by the borrower and lender. The repayments are usually due in monthly installments and cover the principle, which is the dollar amount borrowed, and interest.
Using a personal loan for senior care
Many factors may influence why an individual or a family obtains a personal loan for senior care. An older family member may need to move to an assisted living community or nursing home, and the funds may not be available to pay for the care. A personal loan can pay the costs, and the adult or family can repay the loan over time.
When a personal loan is the best option for paying for senior care, choosing the right lender and finding a loan can be complex. There are many financial institutions that offer personal loans, and contacting multiple lenders to do research can be a time-consuming task. ElderLife Financial Services simplifies the process for people who need a loan to fund senior care.
ElderLife Financial Services’ personal loans
An older adult and their family who need a personal loan for senior care can work with ElderLife Financial services to find the right loan easily. When completing one application, families receive loan multiple loan offers. ElderLife Financial Services discusses the loan offers with the family to determine which best meets their needs.
What is the loan application process with ElderLife Financial services?
Contact ElderLife Financial Services. A person or family seeking a loan can contact ElderLife Financial Services or submit an inquiry online. ElderLife Financial Services’ partners Access Financing contacts the applicant to help them through the application process.
Receive loan offers. ElderLife Financial Services partners with four national lenders and processes the application with each lender. Then, ElderLife Financial Services reviews the offers and discusses them with the family, recommending the loan that will best meet their needs.
Receive loan funds. With ElderLife Financial Services, loan funds move quickly. Families who are approved can receive the loan funds as soon as the next day.
When it’s time to pay for senior care, you may have questions about how to fund the help you or a family member needs. Contact ElderLife Financial Services to learn how a personal loan can help you secure the care you need.
ElderLife Financial Services can help you use your life insurance to pay for senior care.
Life insurance is a type of insurance policy that individuals have that pay named beneficiaries after the policyholder dies. During the policyholder’s lifetime, they pay monthly premiums to the insurance provider. Oftentimes, these monthly premiums increase as the policyholder ages.
At a certain point, these policies may become too expensive for the policyholder to pay. They policyholder may feel they can either continue to pay the premiums or let the policy go. If the individual lets the policy go, they lose all of the money that they’ve paid into the policy over the years because the beneficiaries do not receive a payout after death.
Options for using your life insurance policy
Certain life insurance policies allow policyholders to use these funds while they are still living. While the death benefit payout decreases or is used up completely, the policyholder can use the money to pay for expenses while they’re living, such as those associated with senior care.
When an individual sells their policy to a settlement company, the person can receive a lump sum payment. It’s important to note that the settlement company takes on all future premium payments. In exchange for paying the policyholder and paying future premium payments, the settlement company then becomes the policy’s beneficiary and receives the death benefit payout when the individual passes away. This type of settlement allows policyholders to take advantage of the life insurance policy they paid into for years, all while they are still living.
How does ElderLife Financial Services help you use life insurance for senior care?
ElderLife Financial Services helps older adults obtain life settlements for their life insurance policies to pay for senior care expenses. It allows policyholders to understand their policy, estimate the total funds they can receive, and gets the money for them.
The life settlement process with ElderLife Financial Services
A life insurance policyholder may realize that their premiums are becoming too expensive to afford, and they also need to pay for senior care. Policyholders can work with ElderLife Financial Services to learn how to use their policy to pay for senior care in just a few steps.
Policyholder contacts ElderLife Financial Services or uses the free, online estimator tool to learn how much money they may be able to get for their policy.
ElderLife Financial Services provides a free estimate of what the individual’s policy can pay out.
ElderLife Financial Services’ settlement partner buys the policy from the individual, providing the policyholder with a lump sum life settlement.
The individual can use these funds to pay for senior care expenses.
Paying for senior living expenses can be costly, but using life insurance that you’ve paid for many years can help. The process of accessing life insurance policy funds is simple and clear when working with ElderLife Financial Services. Contact ElderLife Financial Services to learn how you or a family member can use your insurance policy to pay for senior care.
When it’s time to file a claim on your long-term care insurance, ElderLife Financial Services can help you do it efficiently and correctly.
Long-term care insurance can be helpful to older adults because it helps pay for services that traditional health insurance does not. Individuals pay into these types of policies in the event that, as they age, they need assistance coping with a chronic illness or another senior care service.
When it comes time to make a claim on your long-term care insurance, the process may be complex. A policyholder needs to understand what type of policy they have, the services the policy covers, and how to file the claim properly.
When can I file a claim to use my long-term care insurance?
When it comes time to file a claim on long-term care insurance, the policyholder has to complete a number of steps. The elimination period must be over, which is a waiting period that must pass between when an individual buys the policy and when they can file a claim. They must also ensure that one of the trigger events has taken place. Usually, a trigger may be a diagnosis of a chronic illness or the inability to perform at least two activities of daily living, such as feeding or bathing. The policyholder must file the claim that includes information about why the care and insurance claim is necessary, then wait for the provider’s response.
In times when a person needs to use their long-term care insurance, filing the claim properly can be complicated. ElderLife Financial Services can help people understand their policy and then file a claim correctly so they can pay for the care they need.
Get help filing your claim with ElderLife Financial Services
ElderLife Financial Services’ insurance experts can help older adults and their families navigate the process of filing a claim on their long-term care insurance policies. Working with ElderLife Financial Services affords policyholders multiple benefits that help them file their claims accurately and easily the first time.
Free policy review
ElderLife Financial services will review your or your loved one’s long-term care insurance policy. Through this process, you can learn what the policy covers, when the elimination period is over, what conditions can trigger a claim, how much it pays, and more. This review can also help determine in which types of residential settings the person in need of care can live while receiving care cost reimbursements through the policy.
Move to a senior living community that accepts your insurance
ElderLife Financial Services’ free policy review can also save the individual and their family the trouble of moving to different communities. If a person moves to a community or facility before confirming that it accepts their long-term care insurance, they may need to move again. Working with ElderLife Financial Services takes the guesswork out of the equation. You can move in and get comfortable in your new home because ElderLife Financial ensured the community could work with your insurance plan.
Help manage your policy
When a person uses their long-term care insurance, they may need to demonstrate to their provider that they continue to need and use the care the insurance is covering. Typically, every 60-90 days, the policyholder must submit documentation that they’re still receiving the care. ElderLife Financial Services can help the individual by filing the necessary paperwork with their insurance provider.
Although insurance and navigating senior living can be complicated, ElderLife Financial Services simplifies both. Known for their expertise, ElderLife Financial Services can help you understand your long-term care insurance policy and get you the care you need with the most efficiency and least amount of hassle.
A bridge loan helps solve cash flow issues by providing money to a borrower while they wait for permanent funds to become available.
As you consider senior living options for yourself or your loved one, you might run into financial issues. Families can secure short-term financing by getting a bridge loan to help cover costs.
What is a bridge loan?
A bridge loan is a short-term loan that provides a financial “bridge” for the borrower until they obtain another funding source.
Bridge loans are often used in real estate for those buying a new home who have not yet sold their previous one. The bridge loan often covers the down payment on a new residence, and once the borrower sells their home, they can use those profits to pay back the bridge loan.
Bridge loan payments typically kick in about six months to a year after closing. Lenders will agree to terms with the borrower before issuing the loan to determine the best arrangement for both parties.
How a bridge loan is different from a home equity credit line
A home equity line of credit (HELOC) is a line of credit secured by a person’s owned property and borrowed against the available home equity. Borrowers can use HELOC funds in any amount up to their approved credit limit, and for any purpose, over a predetermined “draw period” (10 years on average) before they must begin repayment.
On the other hand, bridge loans are lump sums that borrowers must use only for what the lender approves — typically closing costs or other home expenses. The window before repayment is much shorter than a HELOC, typically a year or less.
When to use a bridge loan
Most commonly, homeowners use bridge loans to buy a new home before selling their current one. They can use their bridge loan to pay off their existing mortgage and cover some of the down payment on their new home. Once they sell their previous residence, they can use the profit from the sale to pay back the loan. In many cases, the lender who issues the bridge loan will require the borrower to finance their mortgage with them as well.
Bridge loans are beneficial for older adults who want to move into senior living facilities, such as assisted living communities or nursing homes, but lack the upfront funds. The loan can offset immediate costs until another funding source is available, such as profits from a property sale or VA benefits.
Bridge loan examples
There are various scenarios in which an individual would take out a bridge loan:
• A person wants to help move their older parent to a senior living community before the parent’s home sells.
• An individual needs to move to assisted living immediately but lacks the finances to cover any immediate payments.
• An older adult needs to pay for rent and senior care while waiting for VA benefits to begin.
• A business is looking to take advantage of real estate opportunities or acquire other businesses.
Pros and cons of bridge loans
Securing a bridge loan can offer flexibility to a family or individual needing immediate financial support for senior living or care. However, there can be some downsides to bridge loans.
Pros of bridge loans
• You’ll achieve financial stability and flexibility while waiting for permanent funding to be available.
• You’ll receive additional funds in the event of a time-sensitive situation.
• You’ll have access to cash instantly.
• There may be no monthly payment for a select period of time.
• The application and approval process is quicker than typical loans.
• You’ll have more time to make real estate decisions.
Drawbacks of bridge loans
• Bridge loans may have higher interest rates and APRs than other loans.
• You must secure assets as debt collateral.
• You must pay debt services on your bridge loan in a shorter time period than a traditional loan.
• Being unable to secure future funding can create more debt.
How much does a bridge loan cost?
The average cost of a bridge loan depends on its purpose. Bridge loans for real estate and business are often larger than those for senior care. Depending on your specific needs, you can receive a bridge loan for $5,000 to $50,000. Most borrowers can expect to pay up to 3% of the total loan amount in closing costs.
Interest rates can vary depending on the current prime rate, the amount you borrow, and your personal credit score. On average, bridge loan interest rates are in the 8.5% to 10.5% range, which is more expensive than conventional mortgages.
How to qualify for a bridge loan
To qualify for a bridge loan, you’ll need to have a secure line of equity, income, assets, and credit. Bridge loan lenders will need to verify the borrower’s income through W2s, tax returns, and pay stubs and ensure their debt-to-income ratio does not exceed 50%.
Most borrowers will need to have a credit score of 650 or higher to qualify for a bridge loan. Additionally, a borrower will need to use personal equity for the loan.
The ElderLife Bridge Loan
For those looking for financial support while transitioning a loved one to senior living, the ElderLife Bridge Loan can offer immediate relief while you wait for other funds to become accessible. ElderLife can provide $5,000 to $50,000 in as little as 24 hours. Additionally, multiple family members can join the loan, so the financial burden doesn’t fall on one person. Contact ElderLife Financial Services to learn if a bridge loan is right for you and your family.
Working with an experienced real estate agent can help simplify the home-selling process. Know what to look for in an agent when choosing which professional to work with.
If you plan to sell your home before moving to a senior living facility, it helps to hire a real estate agent with extensive experience, knowledge, and training. This guide explores what a real estate agent does, how they get paid, and how they can help you find the right buyer for your beloved home. Learn the important facts about real estate professionals and how to find a real estate agent to help you sell your home.
What does a real estate agent do?
Knowing what these industry professionals do can help you find a real estate agent to help you with this big life step. A real estate agent guides homeowners and potential buyers through the complex real estate market. A real estate agent is a valuable resource for navigating market conditions and locating quality professionals for property transactions. There are two types of real estate agents:
Buyers agent: This real estate agent focuses on assisting home buyers by searching market listings, making offers, and negotiating on behalf of potential buyers.
Listing agent: This real estate agent specializes in assisting home sellers. Their expertise focuses on the listing, marketing, and pricing of homes. Listing agents negotiate on the seller’s behalf.
A real estate agent can be both a buyers agent and a listing agent — sometimes for the same property.
Realtor vs. real estate agent
You may hear the terms “Realtor” and real estate agent interchangeably, so we’re breaking down the two terms here. While all Realtors are real estate agents, not every real estate agent is a Realtor.
Realtors and real estate agents must have a license in the state where they practice. Additionally, they both must comply with state and national laws.
Realtors are real estate agents who have become members of the National Association of Realtors (NAR). As members of this association, they pledge to uphold a code of ethics and maintain its standards. In return, they receive special access to real estate market data and transaction management services, which can help home buyers and sellers make the most of their real estate experiences.
Realtors can also take courses through the NAR to earn additional designations, such as becoming a Seniors Real Estate Specialist®. If you work with a Realtor who has this designation, you’ll know that you’re hiring an industry professional who has experience working with the unique needs of older adult home sellers.
A real estate broker is a real estate agent who has completed additional training and coursework. A broker will have a real estate broker license through their state of operation. The broker must pass an exam after completing the necessary coursework to get licensed. Essentially, a real estate broker has in-depth, high-level knowledge of the real estate business.
Besides knowledge, the primary benefit of obtaining a real estate broker license is the ability to operate independently and oversee other real estate agents. Some brokers choose to work under a managing broker.
How to find a real estate agent who suits your needs
With so many real estate professionals available to help you buy or sell your home, choosing the right one for your situation and preferences can feel challenging. Taking these considerations into account can help you find a real estate agent to suit your needs:
Assess the real estate agent’s responsiveness
An ideal real estate agent is responsive and prompt. If an agent is slow to respond to initial contact, it may be hard to reach them when it matters most. Conversely, an agent who responds quickly and follows up may be more communicative and helpful throughout the process.
Seek referrals from friends and family in the area you’re buying or selling the home
Ask local friends, family, and co-workers who have sold their homes to recommend a real estate agent in that area. While their recommendations may not all match your particular circumstances, word-of-mouth referrals can give you a good place to start.
Research real estate agents online
Search online for details on real estate agents, such as years of experience, the number of properties sold, and recent listings. To find information on an agent, type their name followed by “real estate” or “Realtor.” Use your best judgment when vetting potential agents, especially when reading reviews.
Interview a short list of real estate agents
Once you collect a list of qualified agents, conduct phone or in-person interviews to understand their industry experience and how they can help you. Getting feedback about these questions can help you find a real estate agent matching your preferences:
• How long have you been in the industry?
• How many houses do you list each year? How many do you sell?
• What is the percentage of listings that are sold under your management?
• What is your advertising strategy?
• How would you plan on listing my home?
• How will you use social media to promote my listing?
• What traditional offline marketing methods will you be using?
• Can I see previous advertising examples?
• What is your advertising budget?
Evaluate their skills
At this stage, you should have a relatively good idea of each real estate agent’s ability and skill range. It is best to narrow your list by removing agents with less than two years of experience, low sales numbers, and any agent with multiple negative reviews. Finally, remove anyone who hesitated to answer any of your interview questions. You want a real estate agent who evaluates themselves and knows their numbers.
Consider how they will market your home
Selling a home relies on a solid marketing plan. Consider which marketing tools each agent plans to use, the marketing budget, and how the marketing plan will enhance your home’s appeal. The best real estate agents offer additional services, including video, drone photos, custom print materials, a rendered floor plan, staging, and a plan to improve your home’s value.
Ask the agent about the costs of selling your home
There are fees and costs associated with selling a home. Among them are closing costs, your agent’s commission for their guidance and expertise, and others that may apply to your financial situation. Some home sellers will have financial considerations that others do not, like a mortgage payoff if you have an existing mortgage, for example. A great real estate agent will discuss these details so you know what to expect.
Working with a real estate agent is worth it
Anyone selling their home wants to have a positive experience, get the most value for the property, and have guidance in navigating the steps of the process. Finding a real estate agent is worthwhile because you work closely with a professional with industry expertise and insights that will ultimately help you access funds to pay for senior living expenses.
Long-term care insurance can help you plan for how you’ll pay for senior care. It’s important to know the more reputable providers to help choose your best policy.
As people age, it’s important to consider a long-term care insurance policy. Long-term care insurance covers long-term care services that typically aren’t covered by health insurance and that support quality of life, like assistance with daily living activities. Having a long-term care insurance policy in place can give you peace of mind in knowing that you can receive the care you might need in the future without worrying about how to cover it. Here, we explore the best long-term care insurance companies and what makes them great. We’ll also describe essential terms and concepts so you can know the basics when you enter the long-term care insurance conversation with a potential provider.
What is long-term care insurance?
Long-term care insurance covers necessary services that regular health insurance does not for those with needs caused by aging, chronic illness, disability, or a disorder such as Alzheimer’s disease. Under most policies, a person becomes eligible for long-term care benefits when they can no longer do two activities of daily living (ADLs) independently.
Once eligible, a person can receive services in their home, a nursing home, an assisted living facility, or an adult day care center. Some of these policies may cover staying at an assisted living facility.
Adults considering long-term care insurance should start preparing in their 50s as a part of their long-range financial plans. Most providers will not approve applications of those who have a preexisting condition or are over 75. Some policies limit the services provided or their duration, while others extend through the policyholder’s lifetime.
Top long-term care insurance providers
Many reputable providers offer long-term care insurance, each with competitive pricing, multiple levels of coverage, and different policy types. Here are some of the nation’s best long-term care insurance companies.
Great for discounts: Northwestern Mutual
Established in 1857, Northwestern Mutual is one of the best financial services mutual organizations in the U.S. They offer high-quality long-term care insurance through Northwestern Long-Term Care Insurance Company in Milwaukee, Wisconsin.
Northwestern Mutual offers a stand-alone long-term care insurance policy as well as a hybrid policy that combines life insurance with long-term care insurance. The company also provides great discounts (up to 30% off) for couples. Its stand-alone policy is called QuietCare, a reimbursement-style policy that allows clients to customize their total policy value, benefit period, elimination period, and maximum monthly benefits. With the QuietCare policy, you can choose from a wide range of maximum monthly benefit amounts and elimination period options to best suit your needs. Other pros of this insurance policy include inflation protection, survivorship benefits, and paid-up nonforfeiture benefits.
Best policies with no waiting period: Lincoln Financial Group
Lincoln Financial Group has been in business since 1905 and offers different hybrid long-term care insurance plans with no waiting period. These are universal life insurance plans with an optional long-term care benefit rider accessible from the beginning of the policy.
Its MoneyGuard policies offer zero-day elimination periods for accessing coverage to nursing homes and assisted living facilities, allowing customers to receive benefits instantly. The MoneyGuard II and MoneyGuard Fixed Advantage plans do not require medical exams or lab tests for underwriting.
Lincoln Financial Group offers flexibility for its customers. Its policies offer couples discounts, making long-term care insurance more affordable for you and your partner. The agency has also been known to approve applicants up to age 80, whereas many providers will deny customers older than 70.
Unlike some insurance providers, Mutual of Omaha offers long-term care insurance as a singular plan, exclusive from any life insurance policy. The benefit period can potentially be unlimited, so you may be able to use the benefits for as long as you need them. Mutual of Omaha policies offer a range of total policy benefit amounts and maximum monthly benefits — so you’ll be able to choose a policy that suits your needs. You can also choose from various elimination periods to accommodate how long you’re willing to wait for your benefits to kick in.
Best for seniors: New York Life
Founded in 1845, the New York Life Insurance Company is the largest mutual life insurance agency in the United States. New York Life offers different types of insurance policies: a combination long-term care plan and a larger life insurance benefit. The combination policy provides long-term care benefits and pays out a death benefit if a policyholder passes before using their long-term care benefits. This plan also has fixed premiums that will never increase.
The traditional larger life insurance plan is better for those who want the most coverage per dollar. Choosing this policy will give the insured more options for care and protect their assets and income during retirement.
You have options regarding the benefit period, maximum daily benefit, and elimination period. Depending on your policy and the plans available in your area, you may also be eligible for a couples discount.
Best overall: Nationwide
Nationwide is one of the largest insurers in the United States, with a reputation for its high quality of customer service. Nationwide offers universal life insurance policies that have a long-term care rider — an addition to a life insurance policy that allows the insured to use the policy’s death benefit for long-term care while they’re alive. A person can pay for long-term care services not covered by health insurance, such as a home health aide or a long-term care facility.
The benefit period to access a Nationwide long-term care rider is between 25 and 50 months. The maximum benefit will vary based on each customer’s policy; the elimination period is 90 days.
As you search for the long-term care insurance policy that best fits your needs, you may come across unfamiliar terms. We break these down for you clearly below so you can make the best decision for your situation.
Essential terminology for long-term care insurance
When navigating the world of long-term care insurance, understanding the terminology is key to making informed decisions. Here are some essential terms to know:
Activities of daily living (ADLs): These are the basic tasks of everyday life, such as eating, bathing, dressing, toileting, transferring (moving to or from a bed or chair), and continence. The inability to perform a certain number of ADLs typically triggers the benefits of a long-term care policy.
Benefit period or duration: This term refers to the length of time during which benefits are paid. Common duration periods are two, three, and five years or lifetime coverage. The longer the benefit period, the higher the premium is likely to be.
Elimination period: Often referred to as the waiting or deductible period, this is the amount of time that must pass before the insurance company starts paying for care. It can range from zero to 100 days or more; longer elimination periods usually result in lower premiums.
Inflation protection: This optional feature increases the benefit amount annually to keep pace with inflation. This can be a fixed percentage or based on a consumer price index.
Maximum daily/monthly benefit: This is the highest amount that the policy will pay per day or month for care. This amount can vary based on the policy and the options you select.
Nonforfeiture benefits: If you let your policy lapse, this feature may provide some level of benefit. It’s an optional feature that typically increases the cost of the policy.
Underwriting: This is the process by which insurers evaluate the risk of insuring a potential customer. It involves assessing the applicant’s health and medical history.
Hybrid policies: These are policies that combine long-term care insurance with another form of insurance, such as life insurance or an annuity.
Understanding these terms can help you better navigate the complexities of long-term care insurance and choose a policy that best suits your needs and financial situation.
If you’re considering purchasing long-term life insurance or making a claim on your long-term care insurance policy to pay for senior care, contact ElderLife Financial. We can help assist in providing you or a loved one with financing for senior living expenses. Reach out today to learn how we can support you.
Various types of personal loans can help you fund senior care expenses. Find out which one is right for you.
A personal loan can be a powerful tool for financing senior living. This article will explore the different types of personal loans, their terms, and how to choose the best personal loan to fit your financial needs.
What is a personal loan?
A personal loan is borrowed money from a financial institution for personal expenses. It is repaid over a predetermined amount of time in monthly installments, including interest.
How do personal loans work?
Each personal loan has four main components:
Interest rate: A borrower is charged interest on their loan at an annual percentage rate. Financial institutions typically determine the interest rate using credit scores, loan amount, and the loan’s repayment timeline. Borrowers should consider comparing interest rates from a variety of different financial institutions.
Monthly payment: Each monthly payment includes a percentage of the initial principal with the loan’s interest.
Repayment timeline: Borrowers must repay personal loans by their predetermined maturation dates.
Origination fees: Not all personal loans include an origination fee, but many lenders do charge an upfront fee to take out a personal loan.
Types of personal loans
Secured personal loans
A secured personal loan is backed by collateral. The loan’s collateral can either be an asset or cash. Typical assets borrowers use to secure a loan include vehicles, homes, property, or permanent life insurance policies.
Types of secured loans include
Vehicle loans.
Mortgage loans.
Secured credit cards.
Home equity line of credit (HELOC).
Life insurance policy loans.
Pros: Since a secured personal loan presents a lower risk for a financial institution, borrowers can often obtain a lower interest rate.
Cons: If the borrower defaults on the personal loan, the financial institution can seize the collateral. Additionally, borrowers without sufficient collateral are ineligible for this type of loan.
Unsecured personal loans
An unsecured personal loan does not require a borrower to present collateral. A financial institution will consider a borrower’s credit score and income level to determine if lending money is worth the risk.
Types of unsecured loans include
Student loans.
Credit cards.
Personal lines of credit.
Pros: Unsecured personal loans may be easier to obtain, as they do not require collateral.
Cons: Since the risk of default on an unsecured personal loan is higher for a financial institution, they typically come with higher interest rates. A financial institution can also bring a borrower to court to collect delinquent debts.
Co-signed and joint loans
A co-signed personal loan involves a third-party agreement to repay the loan amount if a borrower defaults. A co-signer will not have access to the personal loan’s funds. Typical co-signers are family members or close friends.
A joint personal loan involves two borrowers signing for a loan. Unlike a co-signer, a co-borrower on a joint personal loan is able to access the loan’s funds. Typically, co-borrowers are business partners or spouses.
Pros: Adding a co-signer or co-borrower to a personal loan decreases the financial institution’s risk, which typically lowers the loan’s interest rate.
Cons: All parties involved in the loan are still liable for its terms if one party fails to meet the financial obligations.
Loan interest rates
Fixed-rate loans
A fixed-rate personal loan offers a set interest rate that guarantees a set monthly payment for a borrower. A fixed-rate personal loan provides a borrower with a level of predictability to ensure a balanced budget.
Variable-rate loans
A variable-rate loan is tied to a benchmark rate that a financial institution sets. When the benchmark rate changes, a borrower’s monthly payment changes. Depending on current interest rates and the repayment timeline, a borrower may ultimately end up paying less in interest with a variable-rate loan. There is also the risk of higher payments if the Federal Reserve raises interest rates — as it did in June 2022.
How to get a personal loan
Considerations for qualifying
A borrower should consider a variety of factors before taking out a personal loan:
How much to borrow. A financial institution may approve you for a loan up to a certain amount, but since the interest rate is a percentage of the initial loan amount, you can potentially save money by only borrowing what you need.
Monthly payments. Can you afford the monthly amount owed on the personal loan?
Credit score. It is always best to know your own credit score before a lender makes a hard inquiry. Many lenders base the loan amount, terms, and overall approval on a borrower’s credit score.
Type of lender. There might be other lending options that provide better terms for your given situation.
Steps for getting a personal loan
Once you are certain a personal loan is the right financial choice, follow these steps:
Choose a financial institution. There are two types of financial institutions: banking and non-banking. A banking institution has a banking license and is governed by the Federal Reserve, FDIC, OCC, and NCUA. Banking institutions like local banks and credit unions are allowed to accept deposits. Non-banking financial institutions, such as peer-to-peer lenders, insurance companies, payday lenders, and online finance companies, cannot accept deposits and aren’t federally regulated. Their loan interest rates are often higher, but they may approve a loan that a banking institution wouldn’t.
Check eligibility. Visit the financial institution’s website or call the lender to learn about personal loan requirements, such as minimum credit score, income threshold, or debt-to-income ratio.
Get prequalified. Most financial institutions allow borrowers to perform a soft inquiry to ensure they fit the general loan guidelines. Contact the financial institution to prequalify.
Examine loan details. Examine the loan’s amount, monthly payment, interest rate, and interest type to determine the penalties for prepayment and arbitration agreements.
Apply for the loan. Submit your loan application. Coordinate multiple applications in a 14-day to a 30-day timeframe to minimize the impact on your credit score.
You may be able to access your life insurance policy while you’re living to help pay for senior care expenses.
As you age, life insurance becomes an essential form of insurance to benefit your loved ones in the event of your passing. There are many types of life insurance, so you may wonder how much life and what kind of insurance you need. This depends on many factors, from your age to your family history. Here’s an overview of the types of life insurance available for older adults, including what affects your eligibility for life insurance.
What is life insurance?
Life insurance is an insurance policy that pays a policyholder’s beneficiaries a certain amount of money after the policyholder passes away. This insurance is covered by premiums the policyholder pays throughout their life while holding the policy. The terms of a life insurance policy are held between the insurer and the policy owner. These terms are dependent on certain factors, including age, medical history, and even family medical history.
For example, you may not obtain the policy amount you might want if you have certain risk factors such as smoking or a heart condition; however, these factors are up to the insurer’s discretion. To keep your life insurance policy active, you must pay monthly premiums or a single upfront premium, depending on the type of life insurance policy you hold.
Term life insurance has a time limit on how long the policy will last. If you pass away within the term life insurance policy’s timeframe, your beneficiaries will receive the tax-free payout. Typical term limits are between 10 and 30 years. Once a term limit is over, the term life insurance policy will expire and need to be renewed to remain active. Term life insurance typically costs less than permanent life insurance, and premium payment amounts are consistent throughout the policy’s term. The subtypes of term life insurance include
Decreasing term life insurance: a renewable life insurance policy set to decrease at an agreed-upon rate.
Convertible term life insurance: a policy with the option to convert to a permanent life insurance policy.
Renewable term life insurance: a renewable life insurance policy that does not require new underwriting, regardless of whether the policy holder’s health has declined. These policies usually have the most affordable upfront costs.
Permanent life insurance
Permanent life insurance does not expire and is valid for the entire term of the policyholder’s life. The only times a permanent life insurance policy becomes obsolete are when premium payments are not made or the policy is relinquished.
Permanent life insurance has a more considerable upfront cost than term life insurance. The different types of permanent life insurance include
Whole life insurance: A form of permanent life insurance that accumulates a cash value over time. Policyholders can use this cash to pay off loans or contribute toward premium payments.
Universal Life (UL) insurance: A type of permanent life insurance that allows you to accumulate cash value with added interest. This form of life insurance offers varying premium amounts, and policyholders can adjust the death benefit.
Indexed Universal Life (IUL) insurance: A form of UL insurance that has the ability to earn interest on the cash value portion based on the stock market index. In other words, an IUL has the ability to earn a higher return.
What affects the cost of life insurance?
Age: The older you are, the higher your life insurance premium may be. Therefore, the younger you obtain your policy, the more money you’ll save.
Gender: Women have a longer life expectancy than men, so some insurance carriers will provide women with lower premiums than men of the same age.
Health: If your health is poor, this can contribute to how much you’ll pay in premiums each month. The health exam required by most insurers includes screenings for health risks that can predict life expectancies such as diabetes or heart disease.
Lifestyle: Alongside the health exam, an insurer will evaluate your lifestyle, such as your activity levels and career choices. Those with a high-risk lifestyle may pay more for premiums.
Family medical history: Insurers will use this data to calculate whether you’re at risk for certain genetic diseases.
Smoking history: Those who smoke may be deemed high-risk to some insurers, driving up premiums.
Driving record: If your driving history includes violations like speeding or driving while intoxicated, your premiums will most likely be higher.
Did you know you can use your life insurance policy to pay for care? Learn more with ElderLife Financial to ensure you get the most out of your policy.
Long-term care insurance can help older adults pay for personal care services.
Adults should consider having long-term care insurance so that as they age, they can cover senior care services that traditional health insurance may not. These policies reimburse and cover care for older adults in various ways and settings, such as helping them cope with chronic illnesses or receiving senior care services. Here are the basics of long-term care insurance and how older adults can plan.
What does long-term care insurance cover?
Long-term care insurance is a type of insurance policy that helps individuals prepare for long-term care they might need. This type of insurance covers various services for adults with medical and nonmedical needs caused by aging, disabilities, or chronic illnesses. Insurance will cover the cost of care if the individual cannot perform two out of six activities of daily living on their own:
An ongoing care facility (nursing home, assisted living residence, senior living community).
How does long-term care insurance work?
Those interested in long-term care insurance can apply by filling out an application with a provider and answering health-related questions. As a part of the application process, applicants may need to provide insurers with their medical records. Applicants can choose the coverage they want, with policies typically capping out at the amount paid daily or during an entire lifetime.
Once the insurer approves and issues the policy, the insured will begin paying coverage. When a person needs to make a claim, their insurance provider will review their medical documents and determine their care plan. In some cases, the insurer may send a doctor or a nurse to do an evaluation. ElderLife Financial Services can help individuals make a claim on their long-term care insurance to fund senior care.
Three types of long-term care insurance
Here are the three types of long-term care insurance:
Traditional (stand-alone) policies
Traditional long-term care policies work similarly to auto or home insurance. The insuree pays premiums while the policy is in effect and will make a claim when they need covered services. These policies will state how much care a person can receive daily or monthly from a certain number of years to a lifetime maximum. The amount paid will determine the amount of care provided.
The individual typically receives these care services in a home, nursing home, or medical facility. Those insured will pay extra for benefits that increase over time to protect them from inflation.
Hybrid policies
A hybrid or linked-benefit long-term care insurance policy offers combined coverage with additional benefits such as life insurance or an annuity. The policyholder pays a lump sum or divides it into regular payments for the long-term care coverage. The policyholder’s beneficiaries will receive some of the death benefits should the long-term care benefits go unused. These policies are more expensive than stand-alone long-term care policies.
Continuing Care Retirement Community package policies
A Continuing Care Retirement Community (CCRC) is a retirement community that provides one of at least three options of care: independent living, assisted living, and skilled nursing care. Long-term care insurance can cover the cost of assisted living and nursing home care. Older adults can register for CCRCs through their long-term care insurance to gain coverage.
How much does long-term care insurance cost?
Many factors impact the price of long-term care insurance and some tax benefits you can reap from purchasing a long-term care insurance policy.
Factors that determine long-term care insurance cost:
Your age and health: The older you are, the more likely you are to have health problems, increasing how much you’ll pay when buying a long-term care policy.
Gender: In most insurance policies, women may pay more than men, as they have a greater life expectancy and a higher chance of making more insurance claims.
Marital status: Insurance premiums are lower for married people than for single people.
Insurance company: Different insurance agencies will offer higher or lower prices and cover different levels of care. Research and compare quotes when considering policies.
Amount of coverage: Insurance plans that cover more services will cost more, such as higher limits on daily and lifetime benefits, cost-of-living adjustments, shorter elimination periods, and fewer restrictions on the types of care covered.
Is long-term care insurance tax deductible?
Long-term care insurance can be tax deductible. The federal government and some state tax codes allow policyholders to count a portion or all of their insurance premiums as medical expenses, which can be tax deductible if they meet a certain threshold. The limit on how much of the premium can be deducted increases with age.
Is long-term care insurance worth it?
A long-term care insurance policy can protect a person’s savings from being depleted by paying for care out of pocket. Paying for long-term care yourself can defund retirement savings quickly, leaving no money for alternatives.
Having a policy also gives those insured better access to quality care. Those who rely on Medicaid have more limited options than long-term care policyholders who get coverage through their insurance.
How can I buy long-term care insurance?
There are a number of reputable long-term care insurance providers. A person can purchase a long-term care insurance plan through an insurance company or agent. Some employees may be able to buy a policy through their jobs, as employers may offer coverage through a group rate.
Before purchasing long-term care insurance, consider these factors to determine whether you’re ready:
Current financial condition and financial goals.
Age and health, including preexisting conditions.
Other insurance options that might be a better fit.
Amount of coverage needed.
What disqualifies me from long-term care insurance?
Insurance providers may deny Individuals coverage. A person with a specific preexisting health condition may not qualify for a long-term care policy. Insurance agencies also need proof of income or finances to confirm the individual meets the income minimum and has enough savings.
Are you considering investing in a long-term care plan? The financial concierges at ElderLife Financial can provide guidance and show you your options for long-term senior care. ElderLife Financial can also help you make a claim on your long-term care insurance policy to access the money you need. Contact us today to learn how we can support you.
Older adults need to make crucial decisions for their retirement years, such as if and when they want to move out of their homes. From downsizing to moving closer to family to finding a retirement oasis, a Seniors Real Estate Specialist® can help make the best decision. Discover what a Seniors Real Estate Specialist® does and how older adults can benefit from working with one.
What is a Seniors Real Estate Specialist®?
A Seniors Real Estate Specialist® (or SRES® designee) is a certified Realtor® with training and experience in senior real estate. SRES® designees understand the unique financial and lifestyle needs of adults over 50, whether they’re considering retiring, downsizing, or joining an active adult community.
The Seniors Real Estate Specialist® certification has been a part of the National Association of Realtors® (NAR) family of designations since 2007. Realtors must complete in-depth training on senior housing options, reverse mortgages, downsizing, and rightsizing to earn the SRES® designation. They also train to use pensions, 401(k) accounts, and IRAs in real estate transactions.
Real estate agent vs. Seniors Real Estate Specialist®
Real estate agents are licensed professionals who handle general real estate transactions. Real estate agents may specialize in commercial or residential real estate but don’t have specializations beyond that. Real estate agents may also be a member of the National Association of Realtors®. Real estate agents may help first-time buyers and families buy, sell, and rent space.
Seniors Real Estate Specialists® are already NAR Realtors® and specialize in working with older adult clients. The SRES® designation indicates their specialization in understanding the real estate challenges and needs of adults aged 50 and over, making them an excellent option for older adults who want to work with a real estate professional.
How does a Realtor® become a Senior Real Estate Specialist®?
Realtors® with the SRES® designation can help older adults sell, buy, refinance residential or investment properties or relocate to a new area. SRES® designees work exclusively with adults over 50, so older adults can benefit from their expertise.
To earn the SRES® Certification, qualified NAR Realtors® must meet multiple criteria. These qualifications set Seniors Real Estate Specialists® apart from other real estate agents in the industry. They have demonstrated that they can deliver tailored guidance to older adults through their education, training, and professional affiliation.
Education. U.S. and International Realtors® must complete a two-day online or in-person course at a local classroom.
Examination. U.S. Realtors® must receive an 80% or higher score on the online exam; that score is not required for international or U.S. Realtors® taking the in-person course.
Professional affiliation. To receive the SRES® designation internationally, the student must be in good standing in a cooperating association outside the U.S. NAR Realtors® who are in the U.S. must be members in good standing with NAR or a cooperating association and the SRES Council.
Application. Realtors® must apply for and receive approval of the certification.
What are the benefits of working with a Seniors Real Estate Specialist®?
SRES®-designated agents do more than sell homes. Benefits of working with a Seniors Real Estate Specialist® include having an advisor who
Understands the emotional side of moving. Training includes building empathy and learning to communicate, so the Realtor® fully understands their clients’ unique situations. They can counsel older adults through selling a family home, help them process the emotions that come with downsizing and offer advice on what to do next.
Can navigate senior-specific housing challenges and issues. Designees have specific training in financial and real estate requirements for retirees. They also educate themselves on the benefits and drawbacks of senior living communities to ensure they can advise clients on the best move based on their specific desires and resources.
Help with financial, retirement, and estate planning. An SRES® can offer insights into the senior real estate market and help with potential decisions their clients want to make regarding their financial future.
How to find a Seniors Real Estate Specialist®
If you are looking for an agent with an SRES® designation, Elder Life Financial can help you find an experienced local agent. Elder Life Financial can also ease older adults’ transitions by providing expert assistance in finding the right senior living community and financing options for paying to move, like the ElderLife Bridge Loan.
The cost of senior care in Wyoming is higher than the national average. It’s important to understand the main differences between living and care arrangements when deciding the best setting for an older adult transitioning to senior care. The cost of home care, assisted living, and nursing homes can be significant, depending on your location and necessary care level. Here, we describe these differences and introduce some options to help you pay for senior care in Wyoming.
Cost of assisted living in Wyoming
Multiple factors influence the cost of assisted living in Wyoming. Many of these factors depend on the type and level of care you need. Long-term care financial company Genworth reported in 2024 that the average cost of assisted living in Wyoming is $5,730 per month. This cost has increased by 37.44% since the last report in 2021.
The level of care a person requires will impact the cost of assisted living, but where you live also matters. The monthly cost varies depending on where you live in the state. The cost of assisted living cost in Casper is $5,630 monthly.
The difference between nursing homes and assisted living facilities is in their accommodations and the level of care they provide. In nursing homes, the living environment is more clinical, where residents live in a private or semi-private room without a living room or kitchen area. In assisted living facilities, residents live in apartments with a private bathroom and kitchenette.
The cost of nursing homes in Wyoming is nearly 50% greater than that of assisted living facilities. The average cost for a semi-private room is $7,604 per month, and a private room is $9,429 per month. These costs vary across the state.
If you can stay at home but need a little help, home care is an excellent alternative to moving into a facility, which allows you to stay at home and brings care to you. There are two types of home care that can help meet your needs. One option is homemaker services, where a non-medical caregiver goes to your home to help with basic living activities, like grocery shopping, meal preparation, housekeeping, and cleaning. The other option is to hire a home health aide. A home health aide assists with bathing and toileting and can provide health monitoring, like taking their pulse and blood pressure readings. Home health aides can also monitor the person’s mental health condition they are helping.
The cost difference between the two care types is about 17.1%, so you should consider the type of care that is needed and research your care options based on the needs in order to potentially save money. The average hourly cost of a home health aide is $34.94 per hour, and the homemaker service averages $37.43 an hour. Casper has the lowest average cost in the state, with costs averaging about 3% below the average at $34.94 per hour. The highest average cost is in Casper, which is 3% lower than the state average at just under $34.94 an hour.
Cost of memory care in Wyoming
Memory care is the fastest-growing care segment in the U.S. as measured by the number of individuals needing the care and the number of memory care providers. Memory care specializes in the care of residents or patients with Alzheimer’s disease or other forms of dementia. Memory care is provided at a standalone memory care facility or at an additional cost in an assisted living facility or nursing home.
Memory care is typically an additional cost above assisted living or a nursing home. The incremental cost is due to these residents receiving 24-hour long-term care. This additional cost averages $1,043 per month in Wyoming.
Residents in Wisconsin typically pay more than the national average for senior care. It’s important to understand the main differences between living and care arrangements when deciding the best setting for an older adult transitioning to senior care. The cost of home care, assisted living, and nursing homes can be significant, depending on your location and necessary care level. Here, we describe these differences and introduce some options to help you pay for senior care in Wisconsin.
Cost of assisted living in Wisconsin
Multiple factors influence the cost of assisted living in Wisconsin. Many of these factors depend on the type and level of care you need. Long-term care financial company Genworth reported in 2024 that the average cost of assisted living in Wisconsin is $5,500 per month. This cost has increased by 19.57% since the last report in 2021.
The level of care a person requires will impact the cost of assisted living, but where you live also matters. The monthly cost varies by as much as $1,600 a month, depending on where you live in the state. The cost of assisted living ranges from a low of $5,200 in the Green Bay area to a high of $6,800 per month in Wisconsin’s Fond du Lac area.
The difference between nursing homes and assisted living facilities is in their accommodations and the level of care they provide. In nursing homes, the living environment is more clinical, where residents live in a private or semi-private room without a living room or kitchen area. In assisted living facilities, residents live in apartments with a private bathroom and kitchenette.
The cost of nursing homes in Wisconsin is nearly 90% greater than that of assisted living facilities. The average cost for a semi-private room is $10,250 per month, and a private room is $10,190 per month. These costs vary across the state. Fond du Lac has the lowest average cost for a semi-private room in the state at $8,365, and Oshkosh has the lowest average cost for a private room at $101,059 per month. The area with the highest average cost for a semi-private room in the state is La Crosse, where the average price is $101,059, and La Crosse has the highest price for a private room at $11,376 per month.
If you can stay at home but need a little help, home care is an excellent alternative to moving into a facility, which allows you to stay at home and brings care to you. There are two types of home care that can help meet your needs. One option is homemaker services, where a non-medical caregiver goes to your home to help with basic living activities, like grocery shopping, meal preparation, housekeeping, and cleaning. The other option is to hire a home health aide. A home health aide assists with bathing and toileting and can provide health monitoring, like taking their pulse and blood pressure readings. Home health aides can also monitor the person’s mental health condition they are helping.
The cost difference between the two care types is not very big, only about 0.3%, but the type of care you need will determine what type of training the aide needs. The average hourly cost of a home health aide is $24.96 per hour, and the homemaker service averages $32.45 an hour. La Crosse has the lowest average cost in the state, with costs averaging about 37% below the average at $17.97 per hour. The highest average cost is in Wausau, 142% higher than the state average at just under $69.38 an hour.
Cost of memory care in Wisconsin
Memory care is the fastest-growing care segment in the U.S. as measured by the number of individuals needing the care and the number of memory care providers. Memory care specializes in the care of residents or patients with Alzheimer’s disease or other forms of dementia. Memory care is provided at a standalone memory care facility or at an additional cost in an assisted living facility or nursing home.
Memory care is typically an additional cost above assisted living or a nursing home. The incremental cost is due to these residents’ receiving 24-hour long-term care. Wisconsin’s additional cost is between $950 and $1,375 per month.
In West Virginia, the cost of senior care is higher than the national average. It’s important to understand the main differences between living and care arrangements when deciding the best setting for an older adult transitioning to senior care. The cost of home care, assisted living, and nursing homes can be significant, depending on your location and necessary care level. Here, we describe these differences and introduce some options to help you pay for senior care in West Virginia.
Cost of assisted living in West Virginia
Multiple factors influence the cost of assisted living in West Virginia. Many of these factors depend on the type and level of care you need. Long-term care financial company Genworth reported in 2024 that the average cost of assisted living in West Virginia is $5,500 per month. This cost has increased by 32.21% since the last report in 2021.
The level of care a person requires will impact the cost of assisted living, but where you live also matters. The monthly cost varies by as much as $2,988 a month, depending on where you live in the state. The cost of assisted living ranges from a low of $3,675 in the Wheeling area to a high of $6,663 per month in the Wierton area of West Virginia.
The difference between nursing homes and assisted living facilities is in their accommodations and the level of care they provide. In nursing homes, the living environment is more clinical, where residents live in a private or semi-private room without a living room or kitchen area. In assisted living facilities, residents live in apartments with a private bathroom and kitchenette.
The cost of nursing homes in West Virginia is nearly 110% greater than that of assisted living facilities. The average cost for a semi-private room is $11,619 per month, and a private room is $11,954 per month. These costs vary across the state. Wheeling has the lowest average cost for a semi-private room in the state at $7,148, and Wheeling has the lowest average cost for a private room at $12,623 per month. The area with the highest average cost for a semi-private room in the state is Morgantown where the average price is $12,623, and Morgantown has the highest price for a private room at $14,265 per month.
If you can stay at home but need a little help, home care is an excellent alternative to moving into a facility, which allows you to stay at home and brings care to you. There are two types of home care that can help meet your needs. One option is homemaker services, where a non-medical caregiver goes to your home to help with basic living activities, like grocery shopping, meal preparation, housekeeping, and cleaning. The other option is to hire a home health aide. A home health aide assists with bathing and toileting and can provide health monitoring, like taking their pulse and blood pressure readings. Home health aides can also monitor the person’s mental health condition they are helping.
The cost difference between the two care types is about 54.9%, so you should consider the type of care that is needed and research your care options based on the needs in order to potentially save money. The average hourly cost of a home health aide is $18.47 per hour, and the homemaker service averages $18.72 an hour. Wheeling has the lowest average cost in the state, averaging about 3% below the average at $17.97 per hour. The highest average cost is in Huntington, where the cost is 117% higher than the state average at just under $40.43 an hour.
Cost of memory care in West Virginia
Memory care is the fastest-growing care segment in the U.S. as measured by the number of individuals needing the care and the number of memory care providers. Memory care specializes in the care of residents or patients with Alzheimer’s disease or other forms of dementia. Memory care is provided at a standalone memory care facility or at an additional cost in an assisted living facility or nursing home.
Memory care is typically an additional cost above assisted living or a nursing home. The incremental cost is due to these residents’ receiving 24-hour long-term care. This additional cost is between $943 and $1,452 per month in West Virginia.
Senior care in Washington costs more than the national average. It’s important to understand the main differences between living and care arrangements when deciding the best setting for an older adult transitioning to senior care. The cost of home care, assisted living, and nursing homes can be significant, depending on your location and necessary care level. Here, we describe these differences and introduce some options to help you pay for senior care in Washington.
Cost of assisted living in Washington
Multiple factors influence the cost of assisted living in Washington. Many of these factors depend on the type and level of care you need. Long-term care financial company Genworth reported in 2024 that the average cost of assisted living in Washington is $6,138 per month. This cost has increased by 2.3% since the last report in 2021.
The level of care a person requires will impact the cost of assisted living, but where you live also matters. The monthly cost varies by as much as $5,755 a month, depending on where you live in the state. The cost of assisted living ranges from a low of $3,950 in the Kennewick area to a high of $9,705 per month in the Walla Walla area of Washington.
The difference between nursing homes and assisted living facilities is in their accommodations and the level of care they provide. In nursing homes, the living environment is more clinical, where residents live in a private or semi-private room without a living room or kitchen area. In assisted living facilities, residents live in apartments with a private bathroom and kitchenette.
The cost of nursing homes in Washington is nearly 110% greater than that of assisted living facilities. The average cost for a semi-private room is $12,167 per month, and a private room is $13,688 per month. These costs vary across the state. Mount Vernon has the lowest average cost for a semi-private room in the state at $4,563, and Walla Walla has the lowest average cost for a private room at $13,231 per month. The area with the highest average cost for a semi-private room in the state is Olympia, where the average price is $13,231, and Olympia has the highest price for a private room at $14,296 per month.
If you can stay at home but need a little help, home care is an excellent alternative to moving into a facility, which allows you to stay at home and brings care to you. There are two types of home care that can help meet your needs. One option is homemaker services, where a non-medical caregiver goes to your home to help with basic living activities, like grocery shopping, meal preparation, housekeeping, and cleaning. The other option is to hire a home health aide. A home health aide assists with bathing and toileting and can provide health monitoring, like taking their pulse and blood pressure readings. Home health aides can also monitor the person’s mental health condition they are helping.
The cost difference between the two care types is about 22.9%, so you should consider the type of care that is needed and research your care options based on the needs to potentially save money. The average hourly cost of a home health aide is $43.42 per hour, and the homemaker service averages $39.93 an hour. Bremerton has the lowest average cost in the state, with costs averaging about 47% below the average at $21.96 per hour. The highest average cost is in Mount Vernon, which is 8% higher than the state average at just under $44.92 an hour.
Cost of memory care in Washington
Memory care is the fastest-growing care segment in the U.S. as measured by the number of individuals needing the care and the number of memory care providers. Memory care specializes in the care of residents or patients with Alzheimer’s disease or other forms of dementia. Memory care is provided at a standalone memory care facility or at an additional cost in an assisted living facility or nursing home.
Memory care is typically an additional cost above assisted living or a nursing home. The incremental cost is due to these residents’ receiving 24-hour long-term care. This additional cost is between $950 and $1,687 monthly in Washington.
Virginia’s cost of senior care is lower than the national average. It’s important to understand the main differences between living and care arrangements when deciding the best setting for an older adult transitioning to senior care. The cost of home care, assisted living, and nursing homes can be significant, depending on your location and necessary care level. Here, we describe these differences and introduce some options to help you pay for senior care in Virginia.
Cost of assisted living in Virginia
Multiple factors influence the cost of assisted living in Virginia. Many of these factors depend on the type and level of care you need. Long-term care financial company Genworth reported in 2024 that the average cost of assisted living in Virginia is $6,050 per month. This cost has increased by 15.24% since the last report in 2021.
The level of care a person requires will impact the cost of assisted living, but where you live also matters. The monthly cost varies by as much as $3,557 a month, depending on where you live in the state. The cost of assisted living ranges from a low of $3,725 in the Harrisonburg area to a high of $7,282 per month in the Blacksburg area of Virginia.
Nursing homes and assisted living facilities differ in their accommodations and the level of care they provide. In nursing homes, the living environment is more clinical, where residents live in a private or semi-private room without a living room or kitchen area. In assisted living facilities, residents live in apartments with a private bathroom and kitchenette.
The cost of nursing homes in Virginia is nearly 60% greater than that of assisted living facilities. The average cost for a semi-private room is $9,247 per month, and a private room is $10,190 per month. These costs vary across the state. Charlottesville has the lowest average cost for a semi-private room in the state at $7,908, and Lynchburg has the lowest average cost for a private room at $14,265 monthly. The area with the highest average cost for a semi-private room in the state is Winchester, where the average price is $14,265, and Winchester has the highest price for a private room at $12,380 per month.
If you can stay at home but need a little help, home care is an excellent alternative to moving into a facility, which allows you to stay at home and brings care to you. There are two types of home care that can help meet your needs. One option is homemaker services, where a non-medical caregiver goes to your home to help with basic living activities, like grocery shopping, meal preparation, housekeeping, and cleaning. The other option is to hire a home health aide. A home health aide assists with bathing and toileting and can provide health monitoring, like taking pulse and blood pressure readings. Home health aides can also monitor the person’s mental health condition they are helping.
The cost difference between the two care types is not very big, only about 0.8%, but the type of care you need will determine what type of training the aide needs. The average hourly cost of a home health aide is $33.94 per hour, and the homemaker service averages $29.95 an hour. Virginia Beach has the lowest average cost in the state, with costs averaging about 16% below the average at $26.70 per hour. The highest average cost is in Blacksburg, where the cost is 16% higher than the state average at just under $36.94 an hour.
Memory care is the fastest-growing care segment in the U.S. as measured by the number of individuals needing the care and the number of memory care providers. Memory care specializes in the care of residents or patients with Alzheimer’s disease or other forms of dementia. Memory care is provided at a standalone memory care facility or at an additional cost in an assisted living facility or nursing home.
Memory care is an additional cost above assisted living or a nursing home. The incremental cost is due to these residents’ receiving 24-hour long-term care. This additional cost is between $900 and $1,570 per month in Virginia.
The cost of senior care in Vermont is higher than the national average. It’s important to understand the main differences between living and care arrangements when deciding the best setting for an older adult transitioning to senior care. The cost of home care, assisted living, and nursing homes can be significant, depending on your location and necessary care level. Here, we describe these differences and introduce some options to help you pay for senior care in Vermont.
Cost of assisted living in Vermont
There are a lot of factors that influence the cost of assisted living in Vermont. Many of these factors depend on the type and level of care you need. In the latest data published by Genworth, the average cost of assisted living in Vermont is $5,250 per month. This cost has decreased by -1.13% in the last year.
The level of care a person requires will impact the cost of assisted living, but where you live also matters. The average monthly cost in Burlington for example is $6,371 monthly, more than 20% higher than the state average.
The difference between nursing homes and assisted living facilities is in their accommodations and the level of care they provide. In nursing homes, the living environment is more clinical, where residents live in a private or semi-private room without a living room or kitchen area. In assisted living facilities, residents live in apartments with a private bathroom and kitchenette.
The cost of nursing homes in Vermont is nearly 110% greater than that of assisted living facilities. The average cost for a semi-private room is $10,585 per month, and a private room is $11,102 per month. These costs vary across the state with the cost of a semi-private room in Burlington averaging $11,619 and a private room averages $12,501 monthly.
If you can stay at home but need a little help, home care is an excellent alternative to moving into a facility, which allows you to stay at home and brings care to you. There are two types of home care that can help meet your needs. One option is homemaker services, where a non-medical caregiver goes to your home to help with basic living activities, like grocery shopping, meal preparation, housekeeping, and cleaning. The other option is to hire a home health aide. A home health aide assists with bathing and toileting and can provide health monitoring, like taking their pulse and blood pressure readings. Home health aides can also monitor the person’s mental health condition they are helping.
The cost difference between the two care types is not very big, only about 8.2%, but the type of care you need will determine what type of training the aide needs. The average hourly cost of a home health aide is $29.95 per hour, and the homemaker service averages $29.95 an hour.
Cost of memory care in Vermont
Memory care is the fastest-growing care segment in the U.S. as measured by the number of individuals needing the care and the number of memory care providers. Memory care specializes in the care of residents or patients with Alzheimer’s disease or other forms of dementia. Memory care is provided at a standalone memory care facility or at an additional cost in an assisted living facility or nursing home.
Memory care is typically an additional cost above assisted living or a nursing home. The incremental cost is due to these residents’ receiving 24-hour long-term care. Vermont’s additional cost is between $1,062 and $1,593 per month.
Residents in Utah typically pay more than the national average for senior care. It’s important to understand the main differences between living and care arrangements when deciding the best setting for an older adult transitioning to senior care. The cost of home care, assisted living, and nursing homes can be significant, depending on your location and necessary care level. Here, we describe these differences and introduce some options to help you pay for senior care in Utah.
Cost of assisted living in Utah
Multiple factors influence the cost of assisted living in Utah. Many of these factors depend on the type and level of care you need. Long-term care financial company Genworth reported in 2024 that the average cost of assisted living in Utah is $4,150 per month. This cost has increased by 18.57% since the last report in 2021.
The level of care a person requires will impact the cost of assisted living, but where you live also matters. The monthly cost varies by as much as $1,437, depending on where you live in the state. The cost of assisted living ranges from a low of $3,863 in the Logan area to a high of $5,300 per month in Utah’s Salt Lake City area.
The difference between nursing homes and assisted living facilities is in their accommodations and the level of care they provide. In nursing homes, the living environment is more clinical, where residents live in a private or semi-private room without a living room or kitchen area. In assisted living facilities, residents live in apartments with a private bathroom and kitchenette.
The cost of nursing homes in Utah is nearly 110% greater than that of assisted living facilities. The average cost for a semi-private room is $7,604 per month, and a private room is $10,114 per month. These costs vary across the state. Logan has the lowest average cost for a semi-private room in the state at $7,391, and St. George has the lowest average cost for a private room at $8,669 per month. The area with the highest average cost for a semi-private room in the state is Ogden, where the average price is $8,669, and the highest prices for a private room can be found in Ogden and Provo at $10,646 per month.
If you can stay at home but need a little help, home care is an excellent alternative to moving into a facility, which allows you to stay at home and brings care to you. There are two types of home care that can help meet your needs. One option is homemaker services, where a non-medical caregiver goes to your home to help with basic living activities, like grocery shopping, meal preparation, housekeeping, and cleaning. The other option is to hire a home health aide. A home health aide assists with bathing and toileting and can provide health monitoring, like taking their pulse and blood pressure readings. Home health aides can also monitor the person’s mental health condition they are helping.
The cost difference between the two care types is about 36.9%, so you should consider the type of care that is needed and research your care options based on the needs to potentially save money. The average hourly cost of a home health aide is $33.94 per hour, and the homemaker service averages $34.94 an hour. Salt Lake City has the lowest average cost in the state, averaging about 1% below the average at $33.94 per hour. The highest average cost is in ProvoSt. George, where the cost is 1% higher than the state average at just under $34.94 an hour.
Cost of memory care in Utah
Memory care is the fastest-growing care segment in the U.S. as measured by the number of individuals needing the care and the number of memory care providers. Memory care specializes in the care of residents or patients with Alzheimer’s disease or other forms of dementia. Memory care is provided at a standalone memory care facility or at an additional cost in an assisted living facility or nursing home.
Memory care is typically an additional cost above assisted living or a nursing home. The incremental cost is due to these residents’ receiving 24-hour long-term care. In Utah, this additional cost is between $800 and $925 per month.
In Texas, the cost of senior care is higher than the national average. It’s important to understand the main differences between living and care arrangements when deciding the best setting for an older adult transitioning to senior care. The cost of home care, assisted living, and nursing homes can be significant, depending on your location and necessary care level. Here, we describe these differences and introduce some options to help you pay for senior care in Texas.
Cost of assisted living in Texas
Multiple factors influence the cost of assisted living in Texas. Many of these factors depend on the type and level of care you need. Long-term care financial company Genworth reported in 2024 that the average cost of assisted living in Texas is $4,915 per month. This cost has increased by 22.94% since the last report in 2021.
The level of care a person requires will impact the cost of assisted living, but where you live also matters. The monthly cost varies by as much as $6,104 a month, depending on where you live in the state. The cost of assisted living ranges from a low of $1,500 in the Amarillo area to a high of $7,604 per month in the Corpus Christie area of Texas.
The difference between nursing homes and assisted living facilities is in their accommodations and the level of care they provide. In nursing homes, the living environment is more clinical, where residents live in a private or semi-private room without a living room or kitchen area. In assisted living facilities, residents live in apartments with a private bathroom and kitchenette.
The cost of nursing homes in Texas is nearly 20% greater than that of assisted living facilities. The average cost for a semi-private room is $5,323 per month, and a private room is $6,692 per month. These costs vary across the state. Killeen has the lowest average cost for a semi-private room in the state at $4,639, and Killeen has the lowest average cost for a private room at $7,848 per month. The area with the highest average cost for a semi-private room in the state is McAllen where the average price is $7,848, and McAllen has the highest price for a private room at $10,387 per month.
If you can stay at home but need a little help, home care is an excellent alternative to moving into a facility, which allows you to stay at home and brings care to you. There are two types of home care that can help meet your needs. One option is homemaker services, where a non-medical caregiver goes to your home to help with basic living activities, like grocery shopping, meal preparation, housekeeping, and cleaning. The other option is to hire a home health aide. A home health aide assists with bathing and toileting and can provide health monitoring, like taking their pulse and blood pressure readings. Home health aides can also monitor the person’s mental health condition they are helping.
The cost difference between the two care types is not very big, only about 2.1%, but the type of care you need will determine what type of training the aide needs. The average hourly cost of a home health aide is $22.46 per hour, and the homemaker service averages $27.95 an hour. Beaumont has the lowest average cost in the state, with costs averaging about 35% below the average at $16.47 per hour. The highest average cost is in Odessa, at 197% higher than the state average at just under $74.87 an hour.
Cost of memory care in Texas
Memory care is the fastest-growing care segment in the U.S. as measured by the number of individuals needing the care and the number of memory care providers. Memory care specializes in the care of residents or patients with Alzheimer’s disease or other forms of dementia. Memory care is provided at a standalone memory care facility or at an additional cost in an assisted living facility or nursing home.
Memory care is typically an additional cost above assisted living or a nursing home. The incremental cost is due to these residents’ receiving 24-hour long-term care. This additional cost is between $650 and $1,338 per month in Texas.
Senior care in Tennessee costs more than the national average. It’s important to understand the main differences between living and care arrangements when deciding the best setting for an older adult transitioning to senior care. The cost of home care, assisted living, and nursing homes can be significant, depending on your location and necessary care level. Here, we describe these differences and introduce some options to help you pay for senior care in Tennessee.
Cost of assisted living in Tennessee
Multiple factors influence the cost of assisted living in Tennessee. Many of these factors depend on the type and level of care you need. Long-term care financial company Genworth reported in 2024 that the average cost of assisted living in Tennessee is $4,900 per month. This cost has increased by 19.37% since the last report in 2021.
The level of care a person requires will impact the cost of assisted living, but where you live also matters. The monthly cost varies by as much as $1,900 a month, depending on where you live in the state. The cost of assisted living ranges from a low of $3,450 in the Clarksville area to a high of $5,350 per month in the Chattanooga area of Tennessee.
The difference between nursing homes and assisted living facilities is in their accommodations and the level of care they provide. In nursing homes, the living environment is more clinical, where residents live in a private or semi-private room without a living room or kitchen area. In assisted living facilities, residents live in apartments with a private bathroom and kitchenette.
The cost of nursing homes in Tennessee is nearly 80% greater than that of assisted living facilities. The average cost for a semi-private room is $8,654 per month, and a private room is $9,277 per month. These costs vary across the state. Clarksville has the lowest average cost for a semi-private room in the state at $8,258, and Morristown has the lowest average cost for a private room at $9,429 monthly. The area with the highest average cost for a semi-private room in the state is Jackson, where the average price is $9,429, and Chattanooga has the highest price for a private room at $11,528 per month.
If you can stay at home but need a little help, home care is an excellent alternative to moving into a facility, which allows you to stay at home and brings care to you. There are two types of home care that can help meet your needs. One option is homemaker services, where a non-medical caregiver goes to your home to help with basic living activities, like grocery shopping, meal preparation, housekeeping, and cleaning. The other option is to hire a home health aide. A home health aide assists with bathing and toileting and can provide health monitoring, like taking their pulse and blood pressure readings. Home health aides can also monitor the person’s mental health condition they are helping.
The cost difference between the two care types is about 18.4%, so you should consider the type of care that is needed and research your care options based on the needs to potentially save money. The average hourly cost of a home health aide is $30.95 per hour, and the homemaker service averages $31.94 an hour. Morristown has the lowest average cost in the state, with costs averaging about 24% below the average at $23.96 per hour. The highest average cost in Nashville is 2% higher than the state average at just under $31.95 an hour.
Cost of memory care in Tennessee
Memory care is the fastest-growing care segment in the U.S. as measured by the number of individuals needing the care and the number of memory care providers. Memory care specializes in the care of residents or patients with Alzheimer’s disease or other forms of dementia. Memory care is provided at a standalone memory care facility or at an additional cost in an assisted living facility or nursing home.
Memory care is typically an additional cost above assisted living or a nursing home. The incremental cost is due to these residents’ receiving 24-hour long-term care. This additional cost is between $858 and $1,128 per month in Tennessee.
South Dakota’s cost of senior care is lower than the national average. It’s important to understand the main differences between living and care arrangements when deciding the best setting for an older adult transitioning to senior care. The cost of home care, assisted living, and nursing homes can be significant, depending on your location and necessary care level. Here, we describe these differences and introduce some options to help you pay for senior care in South Dakota.
Cost of assisted living in South Dakota
There are a lot of factors that influence the cost of assisted living in South Dakota. Many of these factors depend on the type and level of care you need. In the latest data published by Genworth, the average cost of assisted living in South Dakota is $3,350 per month. This cost has decreased by -7.9% in the last year.
The level of care a person requires will impact the cost of assisted living, but where you live also matters. The monthly cost varies by as much as $1,004 a month, depending on where you live in the state. The cost of assisted living ranges from a low of $2,910 in the Sioux Falls area to a high of $3,914 per month in the Rapid City area of South Dakota.
The difference between nursing homes and assisted living facilities is in their accommodations and the level of care they provide. In nursing homes, the living environment is more clinical, where residents live in a private or semi-private room without a living room or kitchen area. In assisted living facilities, residents live in apartments with a private bathroom and kitchenette.
The cost of nursing homes in South Dakota is nearly 120% greater than that of assisted living facilities. The average cost for a semi-private room is $7,118 per month, and a private room is $7,604 per month. These costs vary across the state. Sioux Falls has the lowest average cost for a semi-private room in the state at $7,270, and Sioux Falls has the lowest average cost for a private room at $7,604 per month. The area with the highest average cost for a semi-private room in the state is Rapid City where the average price is $7,604, and Rapid City has the highest price for a private room at $9,155 per month.
If you can stay at home but need a little help, home care is an excellent alternative to moving into a facility, which allows you to stay at home and brings care to you. There are two types of home care that can help meet your needs. One option is homemaker services, where a non-medical caregiver goes to your home to help with basic living activities, like grocery shopping, meal preparation, housekeeping, and cleaning. The other option is to hire a home health aide. A home health aide assists with bathing and toileting and can provide health monitoring, like taking their pulse and blood pressure readings. Home health aides can also monitor the person’s mental health condition they are helping.
The cost difference between the two care types is about 43.3%, so you should consider the type of care needed and research your care options based on the needs to save money. The average hourly cost of a home health aide is $30.95 per hour, and the homemaker service averages $30.95 an hour. Again, Sioux Falls has the lowest average cost in the state, with costs averaging about -3% below the average at $31.94 per hour. The highest average cost is in Rapid City, where the cost is 3% higher than the state average at just under $31.94 an hour.
Cost of memory care in South Dakota
Memory care is the fastest-growing care segment in the U.S. as measured by the number of individuals needing the care and the number of memory care providers. Memory care specializes in the care of residents or patients with Alzheimer’s disease or other forms of dementia. Memory care is provided at a standalone memory care facility or at an additional cost in an assisted living facility or nursing home.
Memory care is typically an additional cost above assisted living or a nursing home. The incremental cost is due to these residents receiving 24-hour long-term care. This additional cost averages $909 per month in South Dakota.
The cost of senior care in South Carolina is higher than the national average. It’s important to understand the main differences between living and care arrangements when deciding the best setting for an older adult transitioning to senior care. The cost of home care, assisted living, and nursing homes can be significant, depending on your location and necessary care level. Here, we describe these differences and introduce some options to help you pay for senior care in South Carolina.
Cost of assisted living in South Carolina
Multiple factors influence the cost of assisted living in South Carolina. Many of these factors depend on the type and level of care you need. Long-term care financial company Genworth reported in 2024 that the average cost of assisted living in South Carolina is $4,650 per month. This cost has increased by 28.74% since the last report in 2021.
The level of care a person requires will impact the cost of assisted living, but where you live also matters. The monthly cost varies by as much as $1,650, depending on where you live in the state. The cost of assisted living ranges from a low of $3,975 in the Spartanburg area to a high of $5,625 per month in the Myrtle Beach area of South Carolina.
The difference between nursing homes and assisted living facilities is in their accommodations and the level of care they provide. In nursing homes, the living environment is more clinical, where residents live in a private or semi-private room without a living room or kitchen area. In assisted living facilities, residents live in apartments with a private bathroom and kitchenette.
The cost of nursing homes in South Carolina is nearly 90% greater than that of assisted living facilities. The average cost for a semi-private room is $8,669 per month, and a private room is $9,368 per month. These costs vary across the state. Florence has the lowest average cost for a semi-private room in the state at $8,213, and Myrtle BeachFlorence has the lowest average cost for a private room at $9,125 per month. The area with the highest average cost for a semi-private room in the state is Greensville where the average price is $9,125, and the highest prices for a private room can be found in Charleston and Greensville at $9,977 per month.
If you can stay at home but need a little help, home care is an excellent alternative to moving into a facility, which allows you to stay at home and brings care to you. There are two types of home care that can help meet your needs. One option is homemaker services, where a non-medical caregiver goes to your home to help with basic living activities, like grocery shopping, meal preparation, housekeeping, and cleaning. The other option is to hire a home health aide. A home health aide assists with bathing and toileting and can provide health monitoring, like taking their pulse and blood pressure readings. Home health aides can also monitor the person’s mental health condition they are helping.
The cost difference between the two care types is about 19.4%, so you should consider the type of care that is needed and research your care options based on the needs to potentially save money. The average hourly cost of a home health aide is $28.45 per hour, and the homemaker service averages $31.94 an hour. Spartanburg has the lowest average cost in the state, with costs averaging about 14% below the average at $25.95 per hour. The highest average cost is in Florence, which is 131% higher than the state average at just under $69.88 an hour.
Cost of memory care in South Carolina
Memory care is the fastest-growing care segment in the U.S. as measured by the number of individuals needing the care and the number of memory care providers. Memory care specializes in the care of residents or patients with Alzheimer’s disease or other forms of dementia. Memory care is provided at a standalone memory care facility or at an additional cost in an assisted living facility or nursing home.
Memory care is typically an additional cost above assisted living or a nursing home. The incremental cost is due to these residents receiving 24-hour long-term care. This additional cost averages $997 per month in South Carolina.
Residents in Rhode Island typically pay more than the national average for senior care. It’s important to understand the main differences between living and care arrangements when deciding the best setting for an older adult transitioning to senior care. The cost of home care, assisted living, and nursing homes can be significant, depending on your location and necessary care level. Here, we describe these differences and introduce some options to help you pay for senior care in Rhode Island.
Cost of assisted living in Rhode Island
Multiple factors influence the cost of assisted living in Rhode Island. Many of these factors depend on the type and level of care you need. Long-term care financial company Genworth reported in 2021 that the average cost of assisted living in Rhode Island is $6,826 per month. This cost has increased by 37.9% in the last year.
The level of care a person requires will impact the cost of assisted living, but where you live also matters. The average cost of assisted living in Providence is $6,063 monthly over 11% less than the average in the state.
The difference between nursing homes and assisted living facilities is in their accommodations and the level of care they provide. In nursing homes, the living environment is more clinical, where residents live in a private or semi-private room without a living room or kitchen area. In assisted living facilities, residents live in apartments with a private bathroom and kitchenette.
The cost of nursing homes in Rhode Island is nearly 40% greater than that of assisted living facilities. The average cost for a semi-private room is $9,429 per month, and a private room is $10,038 per month. These costs will vary across the state. The cost of a private room in Providence is $10,190 per month and a private room averages $10,798 monthly, both higher than the average across the state.
If you can stay at home but need a little help, home care is an excellent alternative to moving into a facility, which allows you to stay at home and brings care to you. There are two types of home care that can help meet your needs. One option is homemaker services, where a non-medical caregiver goes to your home to help with basic living activities, like grocery shopping, meal preparation, housekeeping, and cleaning. The other option is to hire a home health aide. A home health aide assists with bathing and toileting and can provide health monitoring, like taking their pulse and blood pressure readings. Home health aides can also monitor the person’s mental health condition they are helping.
The cost difference between the two care types is about 16.9%, so you should consider the type of care needed and research your care options based on the needs to save money. The average hourly cost of a home health aide is $29.95 per hour, and the homemaker service averages $31.19 an hour.
Cost of memory care in Rhode Island
Memory care is the fastest-growing care segment in the U.S. as measured by the number of individuals needing the care and the number of memory care providers. Memory care specializes in the care of residents or patients with Alzheimer’s disease or other forms of dementia. Memory care is provided at a standalone memory care facility or at an additional cost in an assisted living facility or nursing home.
Memory care is typically an additional cost above assisted living or a nursing home. The incremental cost is due to these residents receiving 24-hour long-term care. This additional cost averages $0 per month in Rhode Island.
In Pennsylvania, the cost of senior care is higher than the national average. It’s important to understand the main differences between living and care arrangements when deciding the best setting for an older adult transitioning to senior care. The cost of home care, assisted living, and nursing homes can be significant, depending on your location and necessary care level. Here, we describe these differences and introduce some options to help you pay for senior care in Pennsylvania.
Cost of assisted living in Pennsylvania
Multiple factors influence the cost of assisted living in Pennsylvania. Many of these factors depend on the type and level of care you need. Long-term care financial company Genworth reported in 2024 that the average cost of assisted living in Pennsylvania is $5,550 per month. This cost has increased by 35.37% since the last report in 2021.
The level of care a person requires will impact the cost of assisted living, but where you live also matters. The monthly cost varies by as much as $4,618 a month, depending on where you live in the state. The cost of assisted living ranges from a low of $3,800 in the Gettysburg area to a high of $8,418 per month in the Erie area of Pennsylvania.
The difference between nursing homes and assisted living facilities is in their accommodations and the level of care they provide. In nursing homes, the living environment is more clinical, where residents live in a private or semi-private room without a living room or kitchen area. In assisted living facilities, residents live in apartments with a private bathroom and kitchenette.
The cost of nursing homes in Pennsylvania is nearly 100% greater than that of assisted living facilities. The average cost for a semi-private room is $10,768 per month, and a private room is $11,558 per month. These costs vary across the state. Pittsburgh has the lowest average cost for a semi-private room in the state at $9,429, and Pittsburgh has the lowest average cost for a private room at $13,992 monthly. The area with the highest average cost for a semi-private room in the state is Allentown where the average price is $13,992, and Allentown has the highest price for a private room at $15,178 per month.
If you can stay at home but need a little help, home care is an excellent alternative to moving into a facility, which allows you to stay at home and brings care to you. There are two types of home care that can help meet your needs. One option is homemaker services, where a non-medical caregiver goes to your home to help with basic living activities, like grocery shopping, meal preparation, housekeeping, and cleaning. The other option is to hire a home health aide. A home health aide assists with bathing and toileting and can provide health monitoring, like taking their pulse and blood pressure readings. Home health aides can also monitor the person’s mental health condition they are helping.
The cost difference between the two care types is about 13.0%, so you should consider the type of care that is needed and research your care options based on the needs in order to potentially save money. The average hourly cost of a home health aide is $20.96 per hour, and the homemaker service averages $30.45 an hour. State College has the lowest average cost, averaging about 30% below the average at $17.97 per hour. The highest average cost is in Scranton, which is 53% higher than the state average at just under $39.43 an hour.
Cost of memory care in Pennsylvania
Memory care is the fastest-growing care segment in the U.S. as measured by the number of individuals needing the care and the number of memory care providers. Memory care specializes in the care of residents or patients with Alzheimer’s disease or other forms of dementia. Memory care is provided at a standalone memory care facility or at an additional cost in an assisted living facility or nursing home.
Memory care is typically an additional cost above assisted living or a nursing home. The incremental cost is due to these residents’ receiving 24-hour long-term care. This additional cost is between $612 and $1,387 per month in Pennsylvania.
Senior care in Oregon costs more than the national average. It’s important to understand the main differences between living and care arrangements when deciding the best setting for an older adult transitioning to senior care. The cost of home care, assisted living, and nursing homes can be significant, depending on your location and necessary care level. Here, we describe these differences and introduce some options to help you pay for senior care in Oregon.
Cost of assisted living in Oregon
Multiple factors influence the cost of assisted living in Oregon. Many of these factors depend on the type and level of care you need. Long-term care financial company Genworth reported in 2024 that the average cost of assisted living in Oregon is $5,825 per month. This cost has increased by 15.46% since the last report in 2021.
The level of care a person requires will impact the cost of assisted living, but where you live also matters. The monthly cost varies by as much as $1,220 a month, depending on where you live in the state. The cost of assisted living ranges from a low of $5,550 in the Salem area to a high of $6,770 per month in the Grants Pass and Medford areas of Oregon.
The difference between nursing homes and assisted living facilities is in their accommodations and the level of care they provide. In nursing homes, the living environment is more clinical, where residents live in a private or semi-private room without a living room or kitchen area. In assisted living facilities, residents live in apartments with a private bathroom and kitchenette.
The cost of nursing homes in Oregon is nearly 160% greater than that of assisted living facilities. The average cost for a semi-private room is $14,585 per month, and a private room is $15,208 per month. These costs vary across the state. Salem has the lowest average monthly cost for a semi-private room in the state at $9,034, and Salem has the lowest average monthly cost for a private room at $15,208. The area with the highest average cost for a semi-private room in the state is Eugene, whose average price is $15,208, and Eugene has the highest price for a private room at $18,098 per month.
If you can stay at home but need a little help, home care is an excellent alternative to moving into a facility that allows you to stay at home and brings care to you. Two types of home care can help meet your needs. One option is homemaker services, where a non-medical caregiver goes to your home to help with basic living activities, like grocery shopping, meal preparation, housekeeping, and cleaning. The other option is to hire a home health aide. A home health aide assists with bathing and toileting and can provide health monitoring, like taking their pulse and blood pressure readings. Home health aides can also monitor the person’s mental health condition they are helping.
The cost difference between the two care types is not very big, only about 3.8%, but the type of care you need will determine what type of training the aide needs. The average hourly cost of a home health aide is $36.94 per hour, and the homemaker service averages $26.46 an hour. Medford has the lowest average cost in the state, averaging about 37% below the average at $19.97 per hour. The highest average cost is in Bend, which is 13% higher than the state average at just under $35.94 an hour.
Cost of memory care in Oregon
Memory care is the fastest-growing care segment in the U.S. as measured by the number of individuals needing the care and the number of memory care providers. Memory care specializes in the care of residents or patients with Alzheimer’s disease or other forms of dementia. Memory care is provided at a standalone memory care facility or at an additional cost in an assisted living facility or nursing home.
Memory care is typically an additional cost above assisted living or a nursing home. The incremental cost is due to these residents’ receiving 24-hour long-term care. This additional cost is between $996 and $1,357 monthly in Oregon.
Veterans of the U.S. military have access to many benefits.
Older adults veterans ages 65 years and older may be eligible for key financial resources from the U.S. Department of Veterans Affairs (VA) that could improve their health and well-being as they age.
Whether it’s financial, home, or health care assistance, here’s an overview of veteran benefits for older adults, eligibility requirements, and how to apply for them.
What benefits do veterans get?
The Veterans Benefits Administration offers health benefits, such as inpatient and outpatient services ranging from preventative care to surgical procedures and coverage for prescription drugs. The VA provides a geriatric evaluation as part of its Standard Medical Benefits Package. The evaluation assesses the older adult veteran’s physical health, social environment, and care abilities. Information from the assessment helps create a plan of care for aging veterans.
In addition to the standard package, the VA offers additional benefits for senior veterans. Long-term care services may be available in assisted living, home-care services, and state nursing homes, which may require copays depending on income and the level of service needed for the veteran. Increased benefits may also be available for senior veterans who need help with daily living or are confined to their homes. End-of-life benefits and support to surviving spouses or unmarried dependent children may also be available.
To enroll in any benefits program, veterans or caregivers must file an application.
Types of veterans benefits for older adults
VA pension benefits
The VA helps veterans with financial hardships by providing a pension benefit to older adult veterans in the form of monthly payments. Veterans or surviving family members of veterans who served in World War II, the Korean War, the Vietnam War, or the Persian Gulf War can receive the benefit. The monthly financial assistance is a tax-free monetary benefit payable to low-income veterans.
Aid and attendance
The VA Aid and Attendance (A&A) benefit also provides monthly payments to qualifying veterans and survivors. To be eligible for the A&A benefit, veterans — or their spouse — must already receive the VA pension and must require services due to one of the following instances: needing assistance with activities of daily living, being confined to a bed, having limited eyesight, or living in a nursing home due to loss of physical/mental abilities because of a disability.
Housebound benefits
Older adult veterans may be eligible for housebound benefits if they spend most of their time at home due to a permanent or chronic disability. To qualify for the housebound benefit, the veteran already receives the VA pension benefit and must meet certain income and assets limits. The housebound benefit amount adjusts for inflation annually and depends on other factors, such as the veteran’s number of dependents. Veterans cannot receive the housebound and Aid and Attendance benefits simultaneously.
VA health care
Veterans eligible for the VA Standard Medical Benefits Package must be separated from the service in a manner other than dishonorable discharge and have met their minimum length of duty (which varies depending on other factors). Veterans who enroll in this health care program can use it as their sole coverage option or combine it with Medicare or private health insurance.
Long-term care services covered by the VA include 24/7 medical and nursing help. The assistance could be for daily living activities, physical therapy, pain management, and respite care for the veteran’s regular caregiver, such as a loved one.
How to find out if you qualify for a senior veteran benefit
As a veteran ages, more benefits may become available. BenefitsCheckUp may be a helpful resource for older veterans. It may help connect them to even more benefits they may be eligible to receive. Veterans or their loved ones can apply for older adult veteran benefits through the VA by visiting a regional VA office, online at VA.gov, or working with a veteran service officer. To prepare for your application, gather the necessary documents like military discharge papers, annual household income, insurance information, and your veteran’s social security card.
Need help filing for VA benefits? Contact ElderLife Financial today to connect with experienced and accredited VA agents who can assist you in filing an application and determining if you or your loved one is likely to qualify for the Aid and Attendance pension.
Oklahoma’s cost of senior care is lower than the national average. It’s important to understand the main differences between living and care arrangements when deciding the best setting for an older adult transitioning to senior care. The cost of home care, assisted living, and nursing homes can be significant, depending on your location and necessary care level. Here, we describe these differences and introduce some options to help you pay for senior care in Oklahoma.
Cost of assisted living in Oklahoma
Multiple factors influence the cost of assisted living in Oklahoma. Many of these factors depend on the type and level of care you need. Long-term care financial company Genworth reported in 2024 that the average cost of assisted living in Oklahoma is $4,888 per month. This cost has increased by 26.8% since the last report in 2021.
The level of care a person requires will impact the cost of assisted living, but where you live also matters. The monthly cost varies by as much as $977 a month, depending on where you live in the state. The cost of assisted living ranges from a low of $4,573 in the Oklahoma City area to a high of $5,550 per month in the Enid area of Oklahoma.
The difference between nursing homes and assisted living facilities is in their accommodations and care level. In nursing homes, the living environment is more clinical, where residents live in a private or semi-private room without a living room or kitchen area. In assisted living facilities, residents live in apartments with a private bathroom and kitchenette.
The cost of nursing homes in Oklahoma is nearly 30% greater than that of assisted living facilities. The average cost for a semi-private room is $5,931 per month, and a private room is $6,844 per month. These costs vary across the state. Lawton has the lowest average cost for a semi-private room in the state at $4,410, and Lawton has the lowest average cost for a private room at $6,311 per month. The area with the highest average cost for a semi-private room in the state is Oklahoma City, where the average price is $6,311, and Oklahoma City has the highest price for a private room at $7,832 per month.
If you can stay at home but need a little help, home care is an excellent alternative to moving into a facility, which allows you to stay at home and brings care to you. There are two types of home care that can help meet your needs. One option is homemaker services, where a non-medical caregiver goes to your home to help with basic living activities, like grocery shopping, meal preparation, housekeeping, and cleaning. The other option is to hire a home health aide. A home health aide assists with bathing and toileting and can provide health monitoring, like taking their pulse and blood pressure readings. Home health aides can also monitor the person’s mental health condition they are helping.
The cost difference between the two care types is not very big, only about 6.8%, but the type of care you need will determine what type of training the aide needs. The average hourly cost of a home health aide is $19.96 per hour, and the homemaker service averages $27.95 an hour. Tulsa has the lowest average cost in the state, averaging about 13% below the average at $26.95 per hour. The highest average cost is in Oklahoma City, which is 34% higher than the state average at just under $32.19 an hour.
Cost of memory care in Oklahoma
Memory care is the fastest-growing care segment in the U.S. as measured by the number of individuals needing the care and the number of memory care providers. Memory care specializes in the care of residents or patients with Alzheimer’s disease or other forms of dementia. Memory care is provided at a standalone memory care facility or at an additional cost in an assisted living facility or nursing home.
Memory care is typically an additional cost above assisted living or a nursing home. The incremental cost is due to these residents’ receiving 24-hour long-term care. Oklahoma’s additional cost is between $740 and $1,129 per month.
U.S. military Veterans can be eligible to receive housing benefits.
As people age, they need to consider their living environments to make sure they can meet their care needs. Some seniors may prefer to move to a long-term care senior community while others want to continue living in their homes. Senior Veterans may have access to special U.S. Department of Veterans Affairs (VA) programs that can support their choices for where they want to live. Here, we’ll discuss residential community options and special assistance programs, like VA loans and grants, that can help Veterans repair, maintain, or modify their homes so they are safe for aging in place.
Veteran residential housing options
Some older adults require a level of care that cannot be provided in the home. Veterans needing greater assistance can live in residential settings where they receive a higher level of care. Veterans have multiple options; some residences are home to Veterans only, and others can have residents who are not Veterans. Here are some examples of each:
VA residential communities
VA operates a few types of residential facilities that house and care for Veterans. See the options below for Veterans who want to pursue this type of long-term care setting.
•VA nursing homes: VA also calls these residences VA Community Living Centers. These nursing homes run by VA focus on housing and caring for their Veteran residents.
•State Veteran homes: The state in which the residence is located and VA run these residences together. State Veteran homes are residential communities that often provide varying levels of care, from domiciliary (where residents need little help and can live fairly independently) to nursing home-level care to memory care.
Community residential care
Veterans do not need to live in a residential setting that VA runs. VA refers to these options as community residential care, which means that the Veteran lives in their community at a residential facility not run by the VA. Some of these options include:
•Community nursing homes: These are nursing homes where Veteran and non-Veteran residents can live. Choosing this type of residential setting can be beneficial for Veterans who cannot live in an area where there is a VA nursing home. Many nursing homes exist throughout the U.S. that can meet the needs of their residents, and you can start your search here. These facilities are not run by VA; however, VA contracts with some nursing homes to provide oversight to set standards of quality care for Veterans.
•Assisted living facilities:Assisted living communities are excellent options for Veterans to live in a safe and communal yet homelike environment. These communities provide rooms and apartments for their residents as well as housekeeping services, planned activities, and other amenities. Most states also require that the facilities provide daily meals. Other added services might include medication management, assistance with activities of daily living, and others. These facilities are not run by VA.
•Medical foster care: This is a type of residential care where residents, both Veteran and non-Veteran, can live and get nursing home-level care without living in a nursing home with many residents. These facilities are home to a smaller number of residents. Caregivers help them with activities of daily living and other needs that nursing homes typically meet.
•Adult family homes: These are homes for a few residents, typically fewer than six people. Adult family homes have caregivers who can help residents with activities of daily living, and residents may have their own room or share it with another resident. The residents share common spaces, like dining and living areas.
VA typically doesn’t cover rent in these facilities, but they may be able to offer assistance in covering costs or providing services, such as covering nursing visits. Certain Veterans also have access to benefits, such as Aid and Attendance, that can help offset the costs associated with residential care.
If you are interested in residential housing options, first consider your needs to decide which is best for you. The VA Office of Geriatrics and Extended Care has detailed information about the different types of communities and eligibility requirements. Talk with a VA social worker about which community is best for your needs.
VA home loans and disability housing grants for Veterans aging in place
Many older Veterans wish to remain in their homes as they age or to purchase a new home to live in independently. However, older homes may need repair or maintenance, or the senior may need housing modifications for accessibility and to ensure that their home is safe to live in. There are programs specifically designed to help Veterans buy, repair, or modify their homes so they can safely age in place.
VA home loans
A VA home loan is a government-backed option to help Veterans buy, build, improve, or refinance a house. The VA guarantees a portion of the loan to a private lender. With this guarantee, the lender generally can give more favorable loan terms. The main benefits of VA home loans include the following:
•No down payment.
•Lower interest rates.
•Closing cost limits.
•Flexible credit score guidelines.
•No requirement for private mortgage insurance.
To be eligible for a VA loan, Veterans and surviving spouses must meet certain service requirements. To apply for a VA home loan, you must first obtain a Certificate of Eligibility from VA. Once you’ve done so, you apply for a VA loan from the lender of your choice.
The Special Home Adaptation grant
Permanently disabled Veterans with service-connected disabilities may qualify for a Special Home Adaptation (SHA) grant. This grant program offers much-needed financial assistance to help Veterans live independently in their homes. With SHA grant funds, the Veteran can buy or build an adapted home, modify their home to meet their needs, or use the funds toward a mortgage principal in certain circumstances.
To be eligible for this grant, the Veteran or their family member must own the home, and the Veteran must have a qualifying service-related injury.
The Specially Adapted Housing grant
The Specially Adapted Housing (SAH) grant offers assistance to disabled Veterans living independently who want to build, purchase, or modify a home. Veterans can use the funds to purchase or build an adapted home or modify an existing home for accessibility. Modifications can include such things as installing wheelchair ramps and widening doorways for wheelchair access.
If service-related injuries qualify a Veteran for an SHA or SAH grant but they are living temporarily with a family member in a home the Veteran does not own, they may be able to access the Temporary Residence Adaptation (TRA) grant. If the Veteran is temporarily living with a family member in a house that doesn’t meet their needs, they can utilize the funds from a TRA grant to modify the temporary home for accessibility.
To qualify for a TRA grant, the Veteran must have service-related injuries that qualify them for SAH or SHA and be living temporarily in a family member’s home that is not adapted for accessibility.
The Home Improvements and Structural Alterations grant
The Home Improvements and Structural Alterations (HISA) grant is for senior Veterans who have a service-related disability, although some non-service-related disabilities may also qualify. This grant provides funds for medically necessary home improvements, including disability access to all areas and facilities within the home. Covered modifications might include the installation of a walk-in bathtub or a roll-in shower.
Veterans have several options to help them live in a safe, healthy environment as they age. Whether the best place is in a senior living facility or in a home that has been adapted to meet their needs, various programs can help. To learn more about your options or to apply for an assistance program, visit a VA regional office and speak with a VA assistant.
The cost of senior care in Ohio is higher than the national average. It’s important to understand the main differences between living and care arrangements when deciding the best setting for an older adult transitioning to senior care. The cost of home care, assisted living, and nursing homes can be significant, depending on your location and necessary care level. Here, we describe these differences and introduce some options to help you pay for senior care in Ohio.
Cost of assisted living in Ohio
Multiple factors influence the cost of assisted living in Ohio. Many of these factors depend on the type and level of care you need. Long-term care financial company Genworth reported in 2024 that the average cost of assisted living in Ohio is $5,294 per month. This cost has increased by 14.22% since the last report in 2021.
The level of care a person requires will impact the cost of assisted living, but where you live also matters. The monthly cost varies by as much as $2,507 a month, depending on where you live in the state. The cost of assisted living ranges from a low of $4,243 in the Mansfield area to a high of $6,750 per month in the Dayton area of Ohio.
The difference between nursing homes and assisted living facilities is in their accommodations and the level of care they provide. In nursing homes, the living environment is more clinical, where residents live in a private or semi-private room without a living room or kitchen area. In assisted living facilities, residents live in apartments with a private bathroom and kitchenette.
The cost of nursing homes in Ohio is nearly 70% greater than that of assisted living facilities. The average cost for a semi-private room is $8,365 per month, and a private room is $9,520 per month. These costs vary across the state. Mansfield has the lowest average cost for a semi-private room in the state at $6,981, and Lima has the lowest average cost for a private room at $9,901 per month. The area with the highest average cost for a semi-private room in the state is Cincinnati where the average price is $9,901, and Cincinnati has the highest price for a private room at $12,015 per month.
If you can stay at home but need a little help, home care is an excellent alternative to moving into a facility, which allows you to stay at home and brings care to you. There are two types of home care that can help meet your needs. One option is homemaker services, where a non-medical caregiver goes to your home to help with basic living activities, like grocery shopping, meal preparation, housekeeping, and cleaning. The other option is to hire a home health aide. A home health aide assists with bathing and toileting and can provide health monitoring, like taking their pulse and blood pressure readings. Home health aides can also monitor the person’s mental health condition they are helping.
The cost difference between the two care types is not very big, only about 7.4%, but the type of care you need will determine what type of training the aide needs. The average hourly cost of a home health aide is $27.95 per hour, and the homemaker service averages $31.94 an hour. Lima has the lowest average cost in the state, averaging about 17% below the average at $24.96 per hour. The highest average cost is in Springfield, where the cost is 20% higher than the state average at just under $35.94 an hour.
Cost of memory care in Ohio
Memory care is the fastest-growing care segment in the U.S. as measured by the number of individuals needing the care and the number of memory care providers. Memory care specializes in the care of residents or patients with Alzheimer’s disease or other forms of dementia. Memory care is provided at a standalone memory care facility or an additional cost in an assisted living facility or nursing home.
Memory care is typically more expensive than assisted living or a nursing home. The incremental cost of memory care is due to the fact that these residents receive 24-hour long-term care. This additional cost averages $1,087 per month in Ohio.
Residents in North Dakota typically pay more than the national average for senior care. It’s important to understand the main differences between living and care arrangements when deciding the best setting for an older adult transitioning to senior care. The cost of home care, assisted living, and nursing homes can be significant, depending on your location and necessary care level. Here, we describe these differences and introduce some options to help you pay for senior care in North Dakota.
Cost of assisted living in North Dakota
Multiple factors influence the cost of assisted living in North Dakota. Many of these factors depend on the type and level of care you need. Long-term care financial company Genworth reported in 2024 that the average cost of assisted living in North Dakota is $5,050 per month. This cost has increased by 48.92% since the last report in 2021.
The level of care a person requires will impact the cost of assisted living, but where you live also matters. The monthly cost varies by as much as $2,701 a month, depending on where you live in the state. The cost of assisted living ranges from a low of $4,299 in the Fargo area to a high of $7,000 per month in the Grand Forks area of North Dakota.
The difference between nursing homes and assisted living facilities is in their accommodations and the level of care they provide. In nursing homes, the living environment is more clinical, where residents live in a private or semi-private room without a living room or kitchen area. In assisted living facilities, residents live in apartments with a private bathroom and kitchenette.
The cost of nursing homes in North Dakota is nearly 60% greater than that of assisted living facilities. The average cost for a semi-private room is $7,908 per month, and a private room is $8,593 per month. These costs vary across the state. Bismark has the lowest average monthly cost for a semi-private room in the state at $8,365, and it has the lowest average monthly cost for a private room at $11,406. The area with the highest average cost for a semi-private room in the state is Fargo, where the average price is $11,406, and Grand Forks has the highest price for a private room at $17,961 per month.
If you can stay at home but need a little help, home care is an excellent alternative to moving into a facility, which allows you to stay at home and brings care to you. There are two types of home care that can help meet your needs. One option is homemaker services, where a non-medical caregiver goes to your home to help with basic living activities, like grocery shopping, meal preparation, housekeeping, and cleaning. The other option is to hire a home health aide. A home health aide assists with bathing and toileting and can provide health monitoring, like taking their pulse and blood pressure readings. Home health aides can also monitor the person’s mental health condition they are helping.
The cost difference between the two care types is not very big, only about 5.4%, but the type of care you need will determine what type of training the aide needs. The average hourly cost of a home health aide is $23.96 per hour, and the homemaker service averages $31.94 an hour. Bismark has the lowest average cost in the state, with costs averaging about 11% below the average at $30.95 per hour. The highest average cost is in Fargo, 14% higher than the state average at just under $31.94 an hour.
Cost of memory care in North Dakota
Memory care is the fastest-growing care segment in the U.S. as measured by the number of individuals needing the care and the number of memory care providers. Memory care specializes in the care of residents or patients with Alzheimer’s disease or other forms of dementia. Memory care is provided at a standalone memory care facility or at an additional cost in an assisted living facility or nursing home.
Memory care is typically an additional cost above assisted living or a nursing home. The incremental cost is due to these residents’ receiving 24-hour long-term care. This additional cost is between $625 and $1,155 per month in North Dakota.
In North Carolina, the cost of senior care is higher than the national average. It’s important to understand the main differences between living and care arrangements when deciding the best setting for an older adult transitioning to senior care. The cost of home care, assisted living, and nursing homes can be significant, depending on your location and necessary care level. Here, we describe these differences and introduce some options to help you pay for senior care in North Carolina.
Cost of assisted living in North Carolina
Multiple factors influence the cost of assisted living in North Carolina. Many of these factors depend on the type and level of care you need. Long-term care financial company Genworth reported in 2024 that the average cost of assisted living in North Carolina is $5,769 per month. This cost has increased by 43.87% since the last report in 2021.
The level of care a person requires will impact the cost of assisted living, but where you live also matters. The monthly cost varies by as much as $5,853, depending on where you live in the state. The cost of assisted living ranges from a low of $2,750 in the Fayetteville area to a high of $8,603 per month in the Burlington area of North Carolina.
The difference between nursing homes and assisted living facilities is in their accommodations and the level of care they provide. In nursing homes, the living environment is more clinical, where residents live in a private or semi-private room without a living room or kitchen area. In assisted living facilities, residents live in apartments with a private bathroom and kitchenette.
The cost of nursing homes in North Carolina is nearly 50% greater than that of assisted living facilities. The average cost for a semi-private room is $8,365 per month, and a private room is $9,125 per month. These costs vary across the state. Rocky Mount has the lowest average cost for a semi-private room in the state at $7,300, and Jacksonville has the lowest average for a private room at $10,646 per month. The area with the highest average cost for a semi-private room in the state is Hickory, where the average price is $10,646, and Fayetteville has the highest price for a private room at $11,178 per month.
If you can stay at home but need a little help, home care is an excellent alternative to moving into a facility, which allows you to stay at home and brings care to you. There are two types of home care that can help meet your needs. One option is homemaker services, where a non-medical caregiver goes to your home to help with basic living activities, like grocery shopping, meal preparation, housekeeping, and cleaning. The other option is to hire a home health aide. A home health aide assists with bathing and toileting and can provide health monitoring, like taking their pulse and blood pressure readings. Home health aides can also monitor the person’s mental health condition they are helping.
The cost difference between the two care types is not very big, only about 8.1%, but the type of care you need will determine what type of training the aide needs. The average hourly cost of a home health aide is $27.95 per hour, and the homemaker service averages $27.95 an hour. Goldsboro has the lowest average cost in the state, with costs averaging about 64% below the average at $9.98 per hour. The highest average cost is in Charlotte, 39% higher than the state average at just under $38.93 an hour.
Cost of memory care in North Carolina
Memory care is the fastest-growing care segment in the U.S. as measured by the number of individuals needing the care and the number of memory care providers. Memory care specializes in the care of residents or patients with Alzheimer’s disease or other forms of dementia. Memory care is provided at a standalone memory care facility or at an additional cost in an assisted living facility or nursing home.
Memory care is typically an additional cost above assisted living or a nursing home. The incremental cost is due to these residents receiving 24-hour long-term care. This additional cost averages $950 per month in North Carolina.
Senior care in New York costs more than the national average. It’s important to understand the main differences between living and care arrangements when deciding the best setting for an older adult transitioning to senior care. The cost of home care, assisted living, and nursing homes can be significant, depending on your location and necessary care level. Here, we describe these differences and introduce some options to help you pay for senior care in New York.
Cost of assisted living in New York
Multiple factors influence the cost of assisted living in New York. Many of these factors depend on the type and level of care you need. Long-term care financial company Genworth reported in 2024 that the average cost of assisted living in New York is $5,850 per month. This cost has increased by 27.73% since the last report in 2021.
The level of care a person requires will impact the cost of assisted living, but where you live also matters. The monthly cost varies by as much as $10,308 a month, depending on where you live in the state. The cost of assisted living ranges from a low of $2,845 in the Poughkeepsie area to a high of $13,153 per month in the Watertown area of New York.
The difference between nursing homes and assisted living facilities is in their accommodations and the level of care they provide. In nursing homes, the living environment is more clinical, where residents live in a private or semi-private room without a living room or kitchen area. In assisted living facilities, residents live in apartments with a private bathroom and kitchenette.
The cost of nursing homes in New York is nearly 150% greater than that of assisted living facilities. The average cost for a semi-private room is $13,976 per month, and a private room is $14,813 per month. These costs vary across the state. Utica has the lowest average cost for a semi-private room in the state at $11,041, and Utica has the lowest average cost for a private room at $14,935 per month. The area with the highest average cost for a semi-private room in the state is Albany where the average price is $14,935, and Rochester has the highest price for a private room at $17,338 per month.
If you can stay at home but need a little help, home care is an excellent alternative to moving into a facility, which allows you to stay at home and brings care to you. There are two types of home care that can help meet your needs. One option is homemaker services, where a non-medical caregiver goes to your home to help with basic living activities, like grocery shopping, meal preparation, housekeeping, and cleaning. The other option is to hire a home health aide. A home health aide assists with bathing and toileting and can provide health monitoring, like taking their pulse and blood pressure readings. Home health aides can also monitor the person’s mental health condition they are helping.
The cost difference between the two care types is not very big, only about 1.0%, but the type of care you need will determine what type of training the aide needs. The average hourly cost of a home health aide is $26.95 per hour, and the homemaker service averages $34.94 an hour. Utica has the lowest average cost in the state, averaging about 48% below the average at $15.97 per hour. The highest average cost is in Watertown, which is 160% higher than the state average at just under $80.36 an hour.
Cost of memory care in New York
Memory care is the fastest-growing care segment in the U.S. as measured by the number of individuals needing the care and the number of memory care providers. Memory care specializes in the care of residents or patients with Alzheimer’s disease or other forms of dementia. Memory care is provided at a standalone memory care facility or an additional cost in an assisted living facility or nursing home.
Memory care is typically an additional cost above assisted living or a nursing home. The incremental cost is due to these residents’ receiving 24-hour long-term care. This additional cost is between $1,058 and $3,375 per month in New York.
New Mexico’s cost of senior care is lower than the national average. It’s important to understand the main differences between living and care arrangements when deciding the best setting for an older adult transitioning to senior care. The cost of home care, assisted living, and nursing homes can be significant, depending on your location and necessary care level. Here, we describe these differences and introduce some options to help you pay for senior care in New Mexico.
Cost of assisted living in New Mexico
Multiple factors influence the cost of assisted living in New Mexico. Many of these factors depend on the type and level of care you need. Long-term care financial company Genworth reported in 2024 that the average cost of assisted living in New Mexico is $5,450 per month. This cost has increased by 21.16% since the last report in 2021.
The level of care a person requires will impact the cost of assisted living, but where you live also matters. The monthly cost varies by as much as $1,380 a month, depending on where you live in the state. The cost of assisted living ranges from a low of $5,450 in the Farmington area to a high of $6,830 per month in the Santa Fe area of New Mexico.
The difference between nursing homes and assisted living facilities is in their accommodations and the level of care they provide. In nursing homes, the living environment is more clinical, where residents live in a private or semi-private room without a living room or kitchen area. In assisted living facilities, residents live in apartments with a private bathroom and kitchenette.
The cost of nursing homes in New Mexico is nearly 70% greater than that of assisted living facilities. The average cost for a semi-private room is $8,760 per month, and a private room is $10,007 per month. These costs vary across the state. Farmington has the lowest average cost for a semi-private room in the state at $7,315, and Farmington has the lowest average cost for a private room at $9,794 per month. The area with the highest average cost for a semi-private room in the state is Las Cruces where the average price is $9,794, and Las Cruces has the highest price for a private room at $10,707 per month.
If you can stay at home but need a little help, home care is an excellent alternative to moving into a facility, which allows you to stay at home and brings care to you. There are two types of home care that can help meet your needs. One option is homemaker services, where a non-medical caregiver goes to your home to help with basic living activities, like grocery shopping, meal preparation, housekeeping, and cleaning. The other option is to hire a home health aide. A home health aide assists with bathing and toileting and can provide health monitoring, like taking their pulse and blood pressure readings. Home health aides can also monitor the person’s mental health condition they are helping.
The cost difference between the two care types is about 17.7%, so you should consider the type of care needed and research your options based on the need to save money. The average hourly cost of a home health aide is $24.11 per hour, and the homemaker service averages $24.36 an hour. Las Cruces has the lowest average cost in the state, averaging about 1% below the average at $23.96 per hour. The highest average cost is in Farmington, where the cost is 127% higher than the state average at just under $54.91 an hour.
Cost of memory care in New Mexico
Memory care is the fastest-growing care segment in the U.S. as measured by the number of individuals needing the care and the number of memory care providers. Memory care specializes in the care of residents or patients with Alzheimer’s disease or other forms of dementia. Memory care is provided at a standalone memory care facility or at an additional cost in an assisted living facility or nursing home.
Memory care is typically an additional cost above assisted living or a nursing home. The incremental cost is due to these residents’ receiving 24-hour long-term care. This additional cost is between $975 and $1,200 per month in New Mexico.
The cost of senior care in New Jersey is higher than the national average. It’s important to understand the main differences between living and care arrangements when deciding the best setting for an older adult transitioning to senior care. The cost of home care, assisted living, and nursing homes can be significant, depending on your location and necessary care level. Here, we describe these differences and introduce some options to help you pay for senior care in New Jersey.
Cost of assisted living in New Jersey
Multiple factors influence the cost of assisted living in New Jersey. Many of these factors depend on the type and level of care you need. Long-term care financial company Genworth reported in 2024 that the average cost of assisted living in New Jersey is $7,400 per month. This cost has increased by 13.93% since the last report in 2021.
The level of care a person requires will impact the cost of assisted living, but where you live also matters. The monthly cost varies by as much as $3,367 a month, depending on where you live in the state. The cost of assisted living ranges from a low of $5,608 in the Vineland area to a high of $8,975 per month in the Trenton area of New Jersey.
The difference between nursing homes and assisted living facilities is in their accommodations and the level of care they provide. In nursing homes, the living environment is more clinical, where residents live in a private or semi-private room without a living room or kitchen area. In assisted living facilities, residents live in apartments with a private bathroom and kitchenette.
The cost of nursing homes in New Jersey is nearly 60% greater than that of assisted living facilities. The average cost for a semi-private room is $11,619 per month, and a private room is $12,699 per month. These costs vary across the state. Trenton has the lowest average cost for a semi-private room in the state at $8,669, and Trenton has the lowest average cost for a private room at $13,505 per month. The area with the highest average cost for a semi-private room in the state is Vineland, where the average price is $13,505, and Vineland has the highest price for a private room, which is $14,904 per month.
If you can stay at home but need a little help, home care is an excellent alternative to moving into a facility, which allows you to stay at home and brings care to you. There are two types of home care that can help meet your needs. One option is homemaker services, where a non-medical caregiver goes to your home to help with basic living activities, like grocery shopping, meal preparation, housekeeping, and cleaning. The other option is to hire a home health aide. A home health aide assists with bathing and toileting and can provide health monitoring, like taking their pulse and blood pressure readings. Home health aides can also monitor the person’s mental health condition they are helping.
The cost difference between the two care types is about 10.1%, so you should consider the type of care that is needed and research your care options based on the needs to potentially save money. The average hourly cost of a home health aide is $34.94 per hour, and the homemaker service averages $35.44 an hour. Ocean City and Vineland have the lowest average cost in the state, averaging about 32% below the average at $23.96 per hour. The highest average cost in Trenton is 8% higher than the state average at just under $37.93 an hour.
Cost of memory care in New Jersey
Memory care is the fastest-growing care segment in the U.S. as measured by the number of individuals needing the care and the number of memory care providers. Memory care specializes in the care of residents or patients with Alzheimer’s disease or other forms of dementia. Memory care is provided at a standalone memory care facility or at an additional cost in an assisted living facility or nursing home.
Memory care is typically an additional cost above assisted living or a nursing home. The incremental cost is due to these residents receiving 24-hour long-term care. This additional cost averages $1,662 per month in New Jersey.
In Nevada, the cost of senior care is higher than the national average. It’s important to understand the main differences between living and care arrangements when deciding the best setting for an older adult transitioning to senior care. The cost of home care, assisted living, and nursing homes can be significant, depending on your location and necessary care level. Here, we describe these differences and introduce some options to help you pay for senior care in Nevada.
Cost of assisted living in Nevada
Multiple factors influence the cost of assisted living in Nevada. Many of these factors depend on the type and level of care you need. Long-term care financial company Genworth reported in 2024 that the average cost of assisted living in Nevada is $5,000 per month. This cost has increased by 33.33% since the last report in 2021.
The level of care a person requires will impact the cost of assisted living, but where you live also matters. The monthly cost varies by as much as $1,381 a month, depending on where you live in the state. The cost of assisted living ranges from a low of $4,523 in the Las Vegas area to a high of $5,904 per month in the Carson City area of Nevada.
The difference between nursing homes and assisted living facilities is in their accommodations and the level of care they provide. In nursing homes, the living environment is more clinical, where residents live in a private or semi-private room without a living room or kitchen area. In assisted living facilities, residents live in apartments with a private bathroom and kitchenette.
The cost of nursing homes in Nevada is nearly 130% greater than that of assisted living facilities. The average cost for a semi-private room is $10,205 per month, and a private room is $12,395 per month. These costs vary across the state. Carson City has the lowest average cost for a semi-private room in the state at $9,566, and Carson City has the lowest average cost for a private room at $10,205 per month. The area with the highest average cost for a semi-private room in the state is Las Vegas where the average price is $10,205, and Reno has the highest price for a private room at $22,813 per month.
If you can stay at home but need a little help, home care is an excellent alternative to moving into a facility, which allows you to stay at home and brings care to you. There are two types of home care that can help meet your needs. One option is homemaker services, where a non-medical caregiver goes to your home to help with basic living activities, like grocery shopping, meal preparation, housekeeping, and cleaning. The other option is to hire a home health aide. A home health aide assists with bathing and toileting and can provide health monitoring, like taking their pulse and blood pressure readings. Home health aides can also monitor the person’s mental health condition they are helping.
The cost difference between the two care types is about 16.1%, so you should consider the type of care that is needed and research your care options based on the needs to potentially save money. The average hourly cost of a home health aide is $32.45 per hour, and the homemaker service averages $29.95 an hour. Las Vegas has the lowest average cost in the state, averaging about 12% below the average at $27.45 per hour. The highest average cost is in Reno, 16% higher than the state average at just under $36.19 an hour.
Cost of memory care in Nevada
Memory care is the fastest-growing care segment in the U.S. as measured by the number of individuals needing the care and the number of memory care providers. Memory care specializes in the care of residents or patients with Alzheimer’s disease or other forms of dementia. Memory care is provided at a standalone memory care facility or at an additional cost in an assisted living facility or nursing home.
Memory care is typically an additional cost above assisted living or a nursing home. The incremental cost is due to these residents’ receiving 24-hour long-term care. Nevada’s additional cost is between $812 and $911 per month.
Residents in New Hampshire typically pay more than the national average for senior care. It’s important to understand the main differences between living and care arrangements when deciding the best setting for an older adult transitioning to senior care. The cost of home care, assisted living, and nursing homes can be significant, depending on your location and necessary care level. Here, we describe these differences and introduce some options to help you pay for senior care in New Hampshire.
Cost of assisted living in New Hampshire
There are a lot of factors that influence the cost of assisted living in New Hampshire. Many of these factors depend on the type and level of care you need. In the latest data published by Genworth, the average cost of assisted living in New Hampshire is $6,053 per month. This cost has decreased by -8.98% in the last year.
The level of care a person requires will impact the cost of assisted living, but where you live also matters and there can be vast changes in cost across the state. For example, the average cost of assisted living in Manchester is $8,061 per month, almost 25% higher than the state average.
The difference between nursing homes and assisted living facilities is in their accommodations and the level of care they provide. In nursing homes, the living environment is more clinical, where residents live in a private or semi-private room without a living room or kitchen area. In assisted living facilities, residents live in apartments with a private bathroom and kitchenette.
The cost of nursing homes in New Hampshire is nearly 90% greater than that of assisted living facilities. The average cost for a semi-private room is $10,950 per month, and a private room is $12,015 per month. These costs will vary around the state. A semi-private room in Manchester will cost an average of $11,285, and a private room has an average cost of $12,285 per month.
If you can stay at home but need a little help, home care is an excellent alternative to moving into a facility, which allows you to stay at home and brings care to you. There are two types of home care that can help meet your needs. One option is homemaker services, where a non-medical caregiver goes to your home to help with basic living activities, like grocery shopping, meal preparation, housekeeping, and cleaning. The other option is to hire a home health aide. A home health aide assists with bathing and toileting and can provide health monitoring, like taking their pulse and blood pressure readings. Home health aides can also monitor the person’s mental health condition they are helping.
The cost difference between the two care types is not very big, only about .8%, but the type of care you need will determine what type of training the aide needs. The average hourly cost of a home health aide is $31.45 per hour, and the homemaker service averages $32.45 an hour. The average costs in Manchester are similar to what they are in the rest of the state, with homemaker services averaging $32.19 per hour and home health aide costs averaging $32.35 per hour.
Cost of memory care in New Hampshire
Memory care is the fastest-growing care segment in the U.S. as measured by the number of individuals needing the care and the number of memory care providers. Memory care specializes in the care of residents or patients with Alzheimer’s disease or other forms of dementia. Memory care is provided at a standalone memory care facility or an additional cost in an assisted living facility or nursing home.
Memory care is typically an additional cost above assisted living or a nursing home. The incremental cost is due to these residents receiving 24-hour long-term care. This additional cost averages $1,795 per month in New Hampshire.
Senior care in Nebraska costs more than the national average. It’s important to understand the main differences between living and care arrangements when deciding the best setting for an older adult transitioning to senior care. The cost of home care, assisted living, and nursing homes can be significant, depending on your location and necessary care level. Here, we describe these differences and introduce some options to help you pay for senior care in Nebraska.
Cost of assisted living in Nebraska
Multiple factors influence the cost of assisted living in Nebraska. Many of these factors depend on the type and level of care you need. Long-term care financial company Genworth reported in 2024 that the average cost of assisted living in Nebraska is $5,399 per month. This cost has increased by 32.46% since the last report in 2021.
The level of care a person requires will impact the cost of assisted living, but where you live also matters. The monthly cost varies by as much as $845 a month, depending on where you live in the state. The cost of assisted living ranges from a low of $5,305 in the Grand Island area to a high of $6,150 per month in the Omaha area of Nebraska.
The difference between nursing homes and assisted living facilities is in their accommodations and the level of care they provide. In nursing homes, the living environment is more clinical, where residents live in a private or semi-private room without a living room or kitchen area. In assisted living facilities, residents live in apartments with a private bathroom and kitchenette.
The cost of nursing homes in Nebraska is nearly 50% greater than that of assisted living facilities. The average cost for a semi-private room is $7,604 per month, and a private room is $8,091 per month. These costs vary across the state. Grand Island has the lowest average cost for a semi-private room in the state at $7,224, and Grand Island has the lowest average cost for a private room at $9,277 per month. The area with the highest average cost for a semi-private room in the state is Lincoln where the average price is $9,277, and Lincoln has the highest price for a private room at $13,079 per month.
If you can stay at home but need a little help, home care is an excellent alternative to moving into a facility, which allows you to stay at home and brings care to you. There are two types of home care that can help meet your needs. One option is homemaker services, where a non-medical caregiver goes to your home to help with basic living activities, like grocery shopping, meal preparation, housekeeping, and cleaning. The other option is to hire a home health aide. A home health aide assists with bathing and toileting and can provide health monitoring, like taking their pulse and blood pressure readings. Home health aides can also monitor the person’s mental health condition they are helping.
The cost difference between the two care types is about 17.9%, so you should consider the type of care that is needed and research your care options based on the needs to potentially save money. The average hourly cost of a home health aide is $33.94 per hour, and the homemaker service averages $34.94 an hour. Grand Island has the lowest average cost in the state, averaging about 28% below the average at $24.96 per hour. The highest average cost in Lincoln is 7% higher than the state average at just under $36.69 an hour.
Cost of memory care in Nebraska
Memory care is the fastest-growing care segment in the U.S. as measured by the number of individuals needing the care and the number of memory care providers. Memory care specializes in the care of residents or patients with Alzheimer’s disease or other forms of dementia. Memory care is provided at a standalone memory care facility or at an additional cost in an assisted living facility or nursing home.
Memory care is typically an additional cost above assisted living or a nursing home. The incremental cost is due to these residents’ receiving 24-hour long-term care. In Nebraska, this additional cost is between $954 and $1,465 per month.
Montana’s cost of senior care is lower than the national average. It’s important to understand the main differences between living and care arrangements when deciding the best setting for an older adult transitioning to senior care. The cost of home care, assisted living, and nursing homes can be significant, depending on your location and necessary care level. Here, we describe these differences and introduce some options to help you pay for senior care in Montana.
Cost of assisted living in Montana
Multiple factors influence the cost of assisted living in Montana. Many of these factors depend on the type and level of care you need. Long-term care financial company Genworth reported in 2021 that the average cost of assisted living in Montana is $4,450 per month. This cost has increased by 5.64% in the last year.
The level of care a person requires will impact the cost of assisted living, but where you live also matters. The monthly cost varies by as much as $500 a month, depending on where you live in the state. The cost of assisted living ranges from a low of $4,150 in the Great Falls area to a high of $4,650 per month in the Missoula area of Montana.
The difference between nursing homes and assisted living facilities is in their accommodations and the level of care they provide. In nursing homes, the living environment is more clinical, where residents live in a private or semi-private room without a living room or kitchen area. In assisted living facilities, residents live in apartments with a private bathroom and kitchenette.
The cost of nursing homes in Montana is nearly 80% greater than that of assisted living facilities. The average cost for a semi-private room is $7,574 per month, and a private room is $8,060 per month. These costs vary across the state. Billings has the lowest average cost for a semi-private room in the state at $7,604, and Billings has the lowest average cost for a private room at $9,125 per month. The area with the highest average cost for a semi-private room in the state is Missoula where the average price is $9,125, and Missoula has the highest price for a private room at $10,646 per month.
If you can stay at home but need a little help, home care is an excellent alternative to moving into a facility, which allows you to stay at home and brings care to you. There are two types of home care that can help meet your needs. One option is homemaker services, where a non-medical caregiver goes to your home to help with basic living activities, like grocery shopping, meal preparation, housekeeping, and cleaning. The other option is to hire a home health aide. A home health aide assists with bathing and toileting and can provide health monitoring, like taking their pulse and blood pressure readings. Home health aides can also monitor the person’s mental health condition they are helping.
The cost difference between the two care types is about 16.7%, so you should consider the type of care that is needed and research your care options based on the needs in order to potentially save money. The average hourly cost of a home health aide is $27.95 per hour, and the homemaker service averages $27.95 an hour. Again, Great Falls has the lowest average cost in the state, with costs averaging about 12% below the average at $24.60 per hour. The highest average cost is in Billings, where the cost is 7% higher than the state average at just under $29.95 an hour.
Cost of memory care in Montana
Memory care is the fastest-growing care segment in the U.S. as measured by the number of individuals needing the care and the number of memory care providers. Memory care specializes in the care of residents or patients with Alzheimer’s disease or other forms of dementia. Memory care is provided at a standalone memory care facility or at an additional cost in an assisted living facility or nursing home.
Memory care is typically an additional cost above assisted living or a nursing home. The incremental cost is due to these residents’ receiving 24-hour long-term care. This additional cost is between $950 and $1,223 per month in Montana.
The cost of senior care in Missouri is higher than the national average. It’s important to understand the main differences between living and care arrangements when deciding the best setting for an older adult transitioning to senior care. The cost of home care, assisted living, and nursing homes can be significant, depending on your location and necessary care level. Here, we describe these differences and introduce some options to help you pay for senior care in Missouri.
Cost of assisted living in Missouri
Multiple factors influence the cost of assisted living in Missouri. Many of these factors depend on the type and level of care you need. Long-term care financial company Genworth reported in 2024 that the average cost of assisted living in Missouri is $4,851 per month. This cost has increased by 61.7% since the last report in 2021.
The level of care a person requires will impact the cost of assisted living, but where you live also matters. The monthly cost varies by as much as $1,659 a month, depending on where you live in the state. The cost of assisted living ranges from a low of $4,120 in the Joplin area to a high of $5,779 per month in the Jefferson City area of Missouri.
The difference between nursing homes and assisted living facilities is in their accommodations and the level of care they provide. In nursing homes, the living environment is more clinical, where residents live in a private or semi-private room without a living room or kitchen area. In assisted living facilities, residents live in apartments with a private bathroom and kitchenette.
The cost of nursing homes in Missouri is nearly 30% greater than that of assisted living facilities. The average cost for a semi-private room is $5,931 per month, and a private room is $6,540 per month. These costs vary across the state. Columbia has the lowest average cost for a semi-private room in the state at $5,369, and Columbia has the lowest average cost for a private room at $7,194 monthly. The area with the highest average cost for a semi-private room in the state is St. Louis where the average price is $7,194, and St. Louis has the highest price for a private room at $9,095 per month.
If you can stay at home but need a little help, home care is an excellent alternative to moving into a facility, which allows you to stay at home and brings care to you. There are two types of home care that can help meet your needs. One option is homemaker services, where a non-medical caregiver goes to your home to help with basic living activities, like grocery shopping, meal preparation, housekeeping, and cleaning. The other option is to hire a home health aide. A home health aide assists with bathing and toileting and can provide health monitoring, like taking their pulse and blood pressure readings. Home health aides can also monitor the person’s mental health condition they are helping.
The cost difference between the two care types is about 29.3%, so you should consider the type of care that is needed and research your care options based on the needs in order to potentially save money. The average hourly cost of a home health aide is $31.94 per hour, and the homemaker service averages $39.93 an hour. Joplin has the lowest average cost in the state, with costs averaging about 42% below the average at $20.96 per hour. The highest average cost is in Cape Girardeau and Jefferson City, where the cost is 11% higher than the state average at just under $39.93 an hour.
Cost of memory care in Missouri
Memory care is the fastest-growing care segment in the U.S. as measured by the number of individuals needing the care and the number of memory care providers. Memory care specializes in the care of residents or patients with Alzheimer’s disease or other forms of dementia. Memory care is provided at a standalone memory care facility or at an additional cost in an assisted living facility or nursing home.
Memory care is typically an additional cost above assisted living or a nursing home. The incremental cost is due to these residents’ receiving 24-hour long-term care. This additional cost is between $687 and $962 per month in Missouri.
Residents in Mississippi typically pay more than the national average for senior care. It’s important to understand the main differences between living and care arrangements when deciding the best setting for an older adult transitioning to senior care. The cost of home care, assisted living, and nursing homes can be significant, depending on your location and necessary care level. Here, we describe these differences and introduce some options to help you pay for senior care in Mississippi.
Cost of assisted living in Mississippi
Multiple factors influence the cost of assisted living in Mississippi. Many of these factors depend on the type and level of care you need. Long-term care financial company Genworth reported in 2024 that the average cost of assisted living in Mississippi is $3,800 per month. This cost has increased by 8.57% since the last report in 2021.
The level of care a person requires will impact the cost of assisted living, but where you live also matters. The monthly cost varies depending on where you live in the state. Assisted living in the Jackson area costs $5,384 per month.
The difference between nursing homes and assisted living facilities is in their accommodations and the level of care they provide. In nursing homes, the living environment is more clinical, where residents live in a private or semi-private room without a living room or kitchen area. In assisted living facilities, residents live in apartments with a private bathroom and kitchenette.
The cost of nursing homes in Mississippi is nearly 130% greater than that of assisted living facilities. The average cost for a semi-private room is $8,517 per month, and a private room is $8,760 per month. These costs vary across the state. Hattiesburg has the lowest average cost for a semi-private room in the state at $1,977, and Hattiesburg has the lowest average cost for a private room at $8,517 per month. The area with the highest average cost for a semi-private room in the state is Gulfport where the average price is $8,517, and Gulfport has the highest price for a private room at $9,125 per month.
If you can stay at home but need a little help, home care is an excellent alternative to moving into a facility, which allows you to stay at home and brings care to you. There are two types of home care that can help meet your needs. One option is homemaker services, where a non-medical caregiver goes to your home to help with basic living activities, like grocery shopping, meal preparation, housekeeping, and cleaning. The other option is to hire a home health aide. A home health aide assists with bathing and toileting and can provide health monitoring, like taking pulse and blood pressure readings. Home health aides can also monitor the person’s mental health condition they are helping.
The cost difference between the two care types is not very big, only about 7.7%, but the type of care you need will determine what type of training the aide needs. The average hourly cost of a home health aide is $14.97 per hour, and the homemaker service averages $21.96 an hour. Gulfport has the lowest average cost in the state, with costs averaging about 1% below the average at $18.72 per hour. The highest average cost is in Hattiesburg, which is 19% higher than the state average at just under $21.96 an hour.
Cost of memory care in Mississippi
Memory care is the fastest-growing care segment in the U.S. as measured by the number of individuals needing the care and the number of memory care providers. Memory care specializes in the care of residents or patients with Alzheimer’s disease or other forms of dementia. Memory care is provided at a standalone memory care facility or at an additional cost in an assisted living facility or nursing home.
Memory care is typically an additional cost above assisted living or a nursing home. The incremental cost is due to these residents’ receiving 24-hour long-term care. This additional cost is between $893 and $1,040 per month in Mississippi.
In Minnesota, the cost of senior care is higher than the national average. It’s important to understand the main differences between living and care arrangements when deciding the best setting for an older adult transitioning to senior care. The cost of home care, assisted living, and nursing homes can be significant, depending on your location and necessary care level. Here, we describe these differences and introduce some options to help you pay for senior care in Minnesota.
Cost of assisted living in Minnesota
Multiple factors influence the cost of assisted living in Minnesota. Many of these factors depend on the type and level of care you need. Long-term care financial company Genworth reported in 2024 that the average cost of assisted living in Minnesota is $5,350 per month. This cost has increased by 18.68% since the last report in 2021.
The level of care a person requires will impact the cost of assisted living, but where you live also matters. The monthly cost varies by as much as $3,335 a month, depending on where you live in the state. The cost of assisted living ranges from a low of $5,300 in the Mankato area to a high of $8,635 per month in the St Cloud area of Minnesota.
The difference between nursing homes and assisted living facilities is in their accommodations and the level of care they provide. In nursing homes, the living environment is more clinical, where residents live in a private or semi-private room without a living room or kitchen area. In assisted living facilities, residents live in apartments with a private bathroom and kitchenette.
The cost of nursing homes in Minnesota is nearly 120% greater than that of assisted living facilities. The average cost for a semi-private room is $10,281 per month, and a private room is $12,805 per month. These costs vary across the state. Minneapolis has the lowest average cost for a semi-private room in the state at $10,281, and St Cloud has the lowest average cost for a private room at $22,934 monthly. The area with the highest average cost for a semi-private room in the state is Rochester where the average price is $22,934, and Rochester has the highest price for a private room at $22,934 per month.
If you can stay at home but need a little help, home care is an excellent alternative to moving into a facility, which allows you to stay at home and brings care to you. There are two types of home care that can help meet your needs. One option is homemaker services, where a non-medical caregiver goes to your home to help with basic living activities, like grocery shopping, meal preparation, housekeeping, and cleaning. The other option is to hire a home health aide. A home health aide assists with bathing and toileting and can provide health monitoring, like taking pulse and blood pressure readings. Home health aides can also monitor the person’s mental health condition they are helping.
The cost difference between the two care types is about 15.6%, so you should consider the type of care that is needed and research your care options based on the needs to potentially save money. The average hourly cost of a home health aide is $29.95 per hour, and the homemaker service averages $36.43 an hour. Duluth has the lowest average cost in the state, averaging about 7% below the average at $30.95 per hour. The highest average cost in St Cloud is 38% higher than the state average at just under $45.92 an hour.
Cost of memory care in Minnesota
Memory care is the fastest-growing care segment in the U.S. as measured by the number of individuals needing the care and the number of memory care providers. Memory care specializes in the care of residents or patients with Alzheimer’s disease or other forms of dementia. Memory care is provided at a standalone memory care facility or at an additional cost in an assisted living facility or nursing home.
Memory care is typically an additional cost above assisted living or a nursing home. The incremental cost is due to these residents’ receiving 24-hour long-term care. This additional cost is between $745 and $1,200 per month in Minnesota.
Massachusetts’s cost of senior care is lower than the national average. It’s important to understand the main differences between living and care arrangements when deciding the best setting for an older adult transitioning to senior care. The cost of home care, assisted living, and nursing homes can be significant, depending on your location and necessary care level. Here, we describe these differences and introduce some options to help you pay for senior care in Massachusetts.
Cost of assisted living in Massachusetts
Multiple factors influence the cost of assisted living in Massachusetts. Many of these factors depend on the type and level of care you need. Long-term care financial company Genworth reported in 2024 that the average cost of assisted living in Massachusetts is $7,120 per month. This cost has increased by 9.54% since the last report in 2021.
The level of care a person requires will impact the cost of assisted living, but where you live also matters. The monthly cost varies by as much as $3,457 a month, depending on where you live in the state. The cost of assisted living ranges from a low of $6,368 in the Springfield area to a high of $9,825 per month in the Pittsfield area of Massachusetts.
The difference between nursing homes and assisted living facilities is in their accommodations and the level of care they provide. In nursing homes, the living environment is more clinical, where residents live in a private or semi-private room without a living room or kitchen area. In assisted living facilities, residents live in apartments with a private bathroom and kitchenette.
The cost of nursing homes in Massachusetts is nearly 100% greater than that of assisted living facilities. The average cost for a semi-private room is $13,688 per month, and a private room is $14,600 per month. These costs vary across the state. Pittsfield has the lowest average cost for a semi-private room in the state at $12,060, and Pittsfield has the lowest average cost for a private room at $14,144 per month. The area with the highest average cost for a semi-private room in the state is Boston where the average price is $14,144, and Boston has the highest price for a private room at $15,345 per month.
If you can stay at home but need a little help, home care is an excellent alternative to moving into a facility, which allows you to stay at home and brings care to you. There are two types of home care that can help meet your needs. One option is homemaker services, where a non-medical caregiver goes to your home to help with basic living activities, like grocery shopping, meal preparation, housekeeping, and cleaning. The other option is to hire a home health aide. A home health aide assists with bathing and toileting and can provide health monitoring, like tanking their pulse and blood pressure readings. Home health aides can also monitor the person’s mental health condition they are helping.
The cost difference between the two care types is not very big, only about 3.0%, but the type of care you need will determine what type of training the aide needs. The average hourly cost of a home health aide is $34.44 per hour, and the homemaker service averages $37.93 an hour. Springfield has the lowest average cost in the state, averaging about 12% below the average at $31.94 per hour. The highest average cost is in Barnstable, which is 38% higher than the state average at just under $49.91 an hour.
Cost of memory care in Massachusetts
Memory care is the fastest-growing care segment in the U.S. as measured by the number of individuals needing the care and the number of memory care providers. Memory care specializes in the care of residents or patients with Alzheimer’s disease or other forms of dementia. Memory care is provided at a standalone memory care facility or at an additional cost in an assisted living facility or nursing home.
Memory care is typically an additional cost above assisted living or a nursing home. The incremental cost is due to these residents’ receiving 24-hour long-term care. This additional cost is between $753 and $1,610 per month in Massachusetts.
The cost of senior care in Maryland is higher than the national average. It’s important to understand the main differences between living and care arrangements when deciding the best setting for an older adult transitioning to senior care. The cost of home care, assisted living, and nursing homes can be significant, depending on your location and necessary care level. Here, we describe these differences and introduce some options to help you pay for senior care in Maryland.
Cost of assisted living in Maryland
Multiple factors influence the cost of assisted living in Maryland. Many of these factors depend on the type and level of care you need. Long-term care financial company Genworth reported in 2024 that the average cost of assisted living in Maryland is $6,900 per month. This cost has increased by 40.82% since the last report in 2021.
The level of care a person requires will impact the cost of assisted living, but where you live also matters. The monthly cost varies by as much as $1,751 a month, depending on where you live in the state. The cost of assisted living ranges from a low of $4,899 in the Salisbury area to a high of $6,650 per month in the Baltimore area of Maryland.
The difference between nursing homes and assisted living facilities is in their accommodations and the level of care they provide. In nursing homes, the living environment is more clinical, where residents live in a private or semi-private room without a living room or kitchen area. In assisted living facilities, residents live in apartments with a private bathroom and kitchenette.
The cost of nursing homes in Maryland is nearly 80% greater than that of assisted living facilities. The average cost for a semi-private room is $11,513 per month, and a private room is $12,836 per month. These costs vary across the state. Cumberland has the lowest average cost for a semi-private room in the state at $10,950, and Cumberland has the lowest average cost for a private room at $12,167 per month. The area with the highest average cost for a semi-private room in the state is Salisbury where the average price is $12,167, and Salisbury has the highest price for a private room at $13,688 per month.
If you can stay at home but need a little help, home care is an excellent alternative to moving into a facility, which allows you to stay at home and brings care to you. There are two types of home care that can help meet your needs. One option is homemaker services, where a non-medical caregiver goes to your home to help with basic living activities, like grocery shopping, meal preparation, housekeeping, and cleaning. The other option is to hire a home health aide. A home health aide assists with bathing and toileting and can provide health monitoring, like taking pulse and blood pressure readings. Home health aides can also monitor the person’s mental health condition they are helping.
The cost difference between the two care types is about 14.9%, so you should consider the type of care that is needed and research your care options based on the needs to potentially save money. The average hourly cost of a home health aide is $29.95 per hour, and the homemaker service averages $32.94 an hour. Cumberland has the lowest average cost in the state, averaging about 5% below the average at $29.95 per hour. The highest average cost is in Hagerstown, which is 38% higher than the state average at just under $43.42 an hour.
Cost of memory care in Maryland
Memory care is the fastest-growing care segment in the U.S. as measured by the number of individuals needing the care and the number of memory care providers. Memory care specializes in the care of residents or patients with Alzheimer’s disease or other forms of dementia. Memory care is provided at a standalone memory care facility or at an additional cost in an assisted living facility or nursing home.
Memory care is typically an additional cost above assisted living or a nursing home. The incremental cost is due to these residents’ receiving 24-hour long-term care. Maryland’s additional cost is between $937 and $1,565 per month.
Residents in Maine typically pay more than the national average for senior care. It’s important to understand the main differences between living and care arrangements when deciding the best setting for an older adult transitioning to senior care. The cost of home care, assisted living, and nursing homes in Maine can be significant, depending on your location and necessary care level. Here, we describe these differences and introduce some options to help you pay for senior care in Maine.
Cost of assisted living in Maine
Multiple factors influence the cost of assisted living in Maine. Many of these factors depend on the type and level of care you need. Long-term care financial company Genworth reported in 2024 that the average cost of assisted living in Maine is $8,712 per month. This cost has increased by 48.54% since the last report in 2021.
The level of care a person requires will impact the cost of assisted living, but where you live also matters. The monthly cost varies by as much as $2,228 a month, depending on where you live in the state. The cost of assisted living ranges from a low of $7,507 in the Bangor area to a high of $9,735 per month in the Lewiston area of Maine.
The difference between nursing homes and assisted living facilities is in their accommodations and the level of care they provide. In nursing homes, the living environment is more clinical, where residents live in a private or semi-private room without a living room or kitchen area. In assisted living facilities, residents live in apartments with a private bathroom and kitchenette.
The cost of nursing homes in Maine is nearly 50% greater than that of assisted living facilities. The average cost for a semi-private room is $12,197 per month, and a private room is $13,155 per month. These costs vary across the state. Bangor has the lowest average cost for a semi-private room in the state at $9,870, and Bangor has the lowest average cost for a private room at $13,505 per month. The area with the highest average cost for a semi-private room in the state is Portland where the average price is $13,505, and Portland has the highest price for a private room at $14,296 per month.
If you can stay at home but need a little help, home care is an excellent alternative to moving into a facility, which allows you to stay at home and brings care to you. There are two types of home care that can help meet your needs. One option is homemaker services, where a non-medical caregiver goes to your home to help with basic living activities, like grocery shopping, meal preparation, housekeeping, and cleaning. The other option is to hire a home health aide. A home health aide assists with bathing and toileting and can provide health monitoring, like taking pulse and blood pressure readings. Home health aides can also monitor the person’s mental health condition they are helping.
The cost difference between the two care types is about 14.2%, so you should consider the type of care that is needed and research your care options based on the needs to potentially save money. The average hourly cost of a home health aide is $37.93 per hour, and the homemaker service averages $41.93 an hour. Bangor has the lowest average cost in the state, averaging about 5% below the average at $37.93 per hour. The highest average cost in Portland is 1% higher than the state average at just under $40.18 an hour.
Cost of memory care in Maine
Memory care is the fastest-growing care segment in the U.S. as measured by the number of individuals needing the care and the number of memory care providers. Memory care specializes in the care of residents or patients with Alzheimer’s disease or other forms of dementia. Memory care is provided at a standalone memory care facility or at an additional cost in an assisted living facility or nursing home.
Memory care is typically an additional cost above assisted living or a nursing home. The incremental cost is due to these residents’ receiving 24-hour long-term care. This additional cost is between $1,188 and $1,650 per month in Maine.
In Louisiana, the cost of senior care is higher than the national average. It’s important to understand the main differences between living and care arrangements when deciding the best setting for an older adult transitioning to senior care. The cost of home care, assisted living, and nursing homes can be significant, depending on your location and necessary care level. Here, we describe these differences and introduce some options to help you pay for senior care in Louisiana.
Cost of assisted living in Louisiana
Multiple factors influence the cost of assisted living in Louisiana. Many of these factors depend on the type and level of care you need. Long-term care financial company Genworth reported in 2024 that the average cost of assisted living in Louisiana is $4,750 per month. This cost has increased by 26.73% since the last report in 2021.
The level of care a person requires will impact the cost of assisted living, but where you live also matters. The monthly cost varies by as much as $3,126 a month, depending on where you live in the state. The cost of assisted living ranges from a low of $3,415 in the Lafayette area to a high of $6,541 per month in the Houma area of Louisiana.
The difference between nursing homes and assisted living facilities is in their accommodations and the level of care they provide. In nursing homes, the living environment is more clinical, where residents live in a private or semi-private room without a living room or kitchen area. In assisted living facilities, residents live in apartments with a private bathroom and kitchenette.
The cost of nursing homes in Louisiana is nearly 50% greater than that of assisted living facilities. The average cost for a semi-private room is $6,905 per month, and a private room is $7,483 per month. These costs vary across the state. Monroe has the lowest average cost for a semi-private room in the state at $4,715, and Monroe has the lowest average cost for a private room at $8,608 per month. The area with the highest average cost for a semi-private room in the state is Lake Charles where the average price is $8,608, and Houma has the highest price for a private room at $8,699 per month.
If you can stay at home but need a little help, home care is an excellent alternative to moving into a facility, which allows you to stay at home and brings care to you. There are two types of home care that can help meet your needs. One option is homemaker services, where a non-medical caregiver goes to your home to help with basic living activities, like grocery shopping, meal preparation, housekeeping, and cleaning. The other option is to hire a home health aide. A home health aide assists with bathing and toileting and can provide health monitoring, like taking pulse and blood pressure readings. Home health aides can also monitor the person’s mental health condition they are helping.
The cost difference between the two care types is not very big, only about .7%, but the type of care you need will determine what type of training the aide needs. The average hourly cost of a home health aide is $24.96 per hour, and the homemaker service averages $24.46 an hour. Houma has the lowest average cost in the state, averaging about 39% below the average at $14.97 per hour. The highest average cost is in Alexandria, 52% higher than the state average at just under $37.43 an hour.
Cost of memory care in Louisiana
Memory care is the fastest-growing care segment in the U.S. as measured by the number of individuals needing the care and the number of memory care providers. Memory care specializes in the care of residents or patients with Alzheimer’s disease or other forms of dementia. Memory care is provided at a standalone memory care facility or at an additional cost in an assisted living facility or nursing home.
Memory care is typically an additional cost above assisted living or a nursing home. The incremental cost is due to these residents’ receiving 24-hour long-term care. This additional cost is between $750 and $1,175 per month in Louisiana.
Senior care in Kentucky costs more than the national average. It’s important to understand the main differences between living and care arrangements when deciding the best setting for an older adult transitioning to senior care. The cost of home care, assisted living, and nursing homes can be significant, depending on your location and necessary care level. Here, we describe these differences and introduce some options to help you pay for senior care in Kentucky.
Cost of assisted living in Kentucky
Multiple factors influence the cost of assisted living in Kentucky. Many of these factors depend on the type and level of care you need. Long-term care financial company Genworth reported in 2024 that the average cost of assisted living in Kentucky is $4,335 per month. This cost has increased by 25.73% since the last report in 2021.
The level of care a person requires will impact the cost of assisted living, but where you live also matters. The monthly cost varies by as much as $2,534 a month, depending on where you live in the state. The cost of assisted living ranges from a low of $2,808 in the Owensboro area to a high of $5,342 per month in the Louisville area of Kentucky.
The difference between nursing homes and assisted living facilities is in their accommodations and the level of care they provide. In nursing homes, the living environment is more clinical, where residents live in a private or semi-private room without a living room or kitchen area. In assisted living facilities, residents live in apartments with a private bathroom and kitchenette.
The cost of nursing homes in Kentucky is nearly 90% greater than that of assisted living facilities. The average cost for a semi-private room is $7,771 per month, and a private room is $8,912 per month. These costs vary across the state. Owensboro has the lowest average cost for a semi-private room in the state at $6,935, and Owensboro has the lowest average cost for a private room at $10,555 monthly. The area with the highest average cost for a semi-private room in the state is Bowling Green, where the average price is $10,555, and Bowling Green has the highest price for a private room, which is $11,102 per month.
If you can stay at home but need a little help, home care is an excellent alternative to moving into a facility, which allows you to stay at home and brings care to you. There are two types of home care that can help meet your needs. One option is homemaker services, where a non-medical caregiver goes to your home to help with basic living activities, like grocery shopping, meal preparation, housekeeping, and cleaning. The other option is to hire a home health aide. A home health aide assists with bathing and toileting and can provide health monitoring, like taking pulse and blood pressure readings. Home health aides can also monitor the person’s mental health condition they are helping.
The cost difference between the two care types is about 26.1%, so you should consider the type of care that is needed and research your care options based on the needs to potentially save money. The average hourly cost of a home health aide is $36.94 per hour, and the homemaker service averages $24.46 an hour. Owensboro has the lowest average cost in the state, averaging about 45% below the average at $16.97 per hour. The highest average cost is in Elizabethtown, which is 17% higher than the state average at just under $35.94 an hour.
Cost of memory care in Kentucky
Memory care is the fastest-growing care segment in the U.S. as measured by the number of individuals needing the care and the number of memory care providers. Memory care specializes in the care of residents or patients with Alzheimer’s disease or other forms of dementia. Memory care is provided at a standalone memory care facility or at an additional cost in an assisted living facility or nursing home.
Memory care is typically an additional cost above assisted living or a nursing home. The incremental cost is due to these residents’ receiving 24-hour long-term care. Kentucky’s additional cost is between $874 and $1,074 per month.
Kansas’s cost of senior care is lower than the national average. It’s important to understand the main differences between living and care arrangements when deciding the best setting for an older adult transitioning to senior care. The cost of home care, assisted living, and nursing homes can be significant, depending on your location and necessary care level. Here, we describe these differences and introduce some options to help you pay for senior care in Kansas.
Cost of assisted living in Kansas
Multiple factors influence the cost of assisted living in Kansas. Many of these factors depend on the type and level of care you need. Long-term care financial company Genworth reported in 2024 that the average cost of assisted living in Kansas is $5,850 per month. This cost has increased by 27.73% since the last report in 2021.
The level of care a person requires will impact the cost of assisted living, but where you live also matters. The monthly cost varies by as much as $2,150 a month, depending on where you live in the state. The cost of assisted living ranges from a low of $5,500 in the Manhattan area to a high of $7,650 per month in the Lawrence area of Kansas.
The difference between nursing homes and assisted living facilities is in their accommodations and the level of care they provide. In nursing homes, the living environment is more clinical, where residents live in a private or semi-private room without a living room or kitchen area. In assisted living facilities, residents live in apartments with a private bathroom and kitchenette.
The cost of nursing homes in Kansas is nearly 30% greater than that of assisted living facilities. The average cost for a semi-private room is $7,483 per month, and a private room is $8,000 per month. These costs vary across the state. Manhattan has the lowest average cost for a semi-private room in the state at $7,300, and Manhattan has the lowest average cost for a private room at $9,125 monthly. The area with the highest average cost for a semi-private room in the state is Wichita, where the average price is $9,125, and Topeka has the highest price for a private room at $10,646 per month.
If you can stay at home but need a little help, home care is an excellent alternative to moving into a facility, which allows you to stay at home and brings care to you. There are two types of home care that can help meet your needs. One option is homemaker services, where a non-medical caregiver goes to your home to help with basic living activities, like grocery shopping, meal preparation, housekeeping, and cleaning. The other option is to hire a home health aide. A home health aide assists with bathing and toileting and can provide health monitoring, like taking pulse and blood pressure readings. Home health aides can also monitor the person’s mental health condition they are helping.
The cost difference between the two care types is not very big, only about 0.2%, but the type of care you need will determine what type of training the aide needs. The average hourly cost of a home health aide is $31.94 per hour, and the homemaker service averages $29.45 an hour. Lawrence has the lowest average cost in the state, averaging about 19% below the average at $24.96 per hour. The highest average cost listed by the survey is in Wichita, which is 6% lower than the state average at just under $28.95 an hour.
Cost of memory care in Kansas
Memory care is the fastest-growing care segment in the U.S. as measured by the number of individuals needing the care and the number of memory care providers. Memory care specializes in the care of residents or patients with Alzheimer’s disease or other forms of dementia. Memory care is provided at a standalone memory care facility or an additional cost in an assisted living facility or nursing home.
Memory care is typically an additional cost above assisted living or a nursing home. The incremental cost is due to these residents’ receiving 24-hour long-term care. Kansas has an additional cost of between $934 and $1,362 per month.
The cost of senior care in Iowa is higher than the national average. It’s important to understand the main differences between living and care arrangements when deciding the best setting for an older adult transitioning to senior care. The cost of home care, assisted living, and nursing homes can be significant, depending on your location and necessary care level. Here, we describe these differences and introduce some options to help you pay for senior care in Iowa.
Cost of assisted living in Iowa
Multiple factors influence the cost of assisted living in Iowa. Many of these factors depend on the type and level of care you need. Long-term care financial company Genworth reported in 2024 that the average cost of assisted living in Iowa is $5,200 per month. This cost has increased by 19.07% since the last report in 2021.
The level of care a person requires will impact the cost of assisted living, but where you live also matters. The monthly cost varies by as much as $5,257 a month, depending on where you live in the state. The cost of assisted living ranges from a low of $4,163 in the Waterloo area to a high of $9,420 per month in the Dubuque area of Iowa.
The difference between nursing homes and assisted living facilities is in their accommodations and the level of care they provide. In nursing homes, the living environment is more clinical, where residents live in a private or semi-private room without a living room or kitchen area. In assisted living facilities, residents live in apartments with a private bathroom and kitchenette.
The cost of nursing homes in Iowa is nearly 70% greater than that of assisted living facilities. The average cost for a semi-private room is $8,365 per month, and a private room is $8,973 per month. These costs vary across the state. Sioux City has the lowest average cost for a semi-private room in the state at $7,604, and Dubuque has the lowest average cost for a private room at $8,790 per month. The area with the highest average cost for a semi-private room in the state is in both Cedar Rapids and Dubuque, where the average price is $8,790, and Cedar Rapids has the highest price for a private room at $10,144 per month.
If you can stay at home but need a little help, home care is an excellent alternative to moving into a facility, which allows you to stay at home and brings care to you. There are two types of home care that can help meet your needs. One option is homemaker services, where a non-medical caregiver goes to your home to help with basic living activities, like grocery shopping, meal preparation, housekeeping, and cleaning. The other option is to hire a home health aide. A home health aide assists with bathing and toileting and can provide health monitoring, like taking pulse and blood pressure readings. Home health aides can also monitor the person’s mental health condition they are helping.
The cost difference between the two care types is about 28.2%, so you should consider the type of care that is needed and research your care options based on the needs to potentially save money. The average hourly cost of a home health aide is $37.93 per hour, and the homemaker service averages $37.93 an hour. Cedar Rapids has the lowest average cost in the state, averaging about 16% below the average at $31.94 per hour. The highest average cost is in WaterlooDavenport, where the cost is 8% lower than the state average at just under $34.94 an hour.
Cost of memory care in Iowa
Memory care is the fastest-growing care segment in the U.S. as measured by the number of individuals needing the care and the number of memory care providers. Memory care specializes in the care of residents or patients with Alzheimer’s disease or other forms of dementia. Memory care is provided at a standalone memory care facility or at an additional cost in an assisted living facility or nursing home.
Memory care is typically an additional cost above assisted living or a nursing home. The incremental cost is due to these residents’ receiving 24-hour long-term care. This additional cost is between $902 and $1,150 per month in Iowa.
Hawaii’s cost of senior care is lower than the national average. It’s important to understand the main differences between living and care arrangements when deciding the best setting for an older adult transitioning to senior care. The cost of home care, assisted living, and nursing homes can be significant, depending on your location and necessary care level. Here, we describe these differences and introduce some options to help you pay for senior care in Hawaii.
Cost of assisted living in Hawaii
Multiple factors influence the cost of assisted living in Hawaii. Many of these factors depend on the type and level of care you need. Long-term care financial company Genworth reported in 2021 that the average cost of assisted living in Hawaii is $5,375 per month. This cost has increased by 7.5% in the last year.
The level of care a person requires will impact the cost of assisted living, but where you live also matters. The monthly cost varies by as much as $1,550 a month, depending on where you live in the state. The cost of assisted living ranges from a low of $3,825 in the Kahului area to a high of $5,375 per month in the Honolulu area of Hawaii.
The difference between nursing homes and assisted living facilities is in their accommodations and the level of care they provide. In nursing homes, the living environment is more clinical, where residents live in a private or semi-private room without a living room or kitchen area. In assisted living facilities, residents live in apartments with a private bathroom and kitchenette.
The cost of nursing homes in Hawaii is nearly 150% greater than that of assisted living facilities. The average cost for a semi-private room is $12,501 per month, and a private room is $14,113 per month. These costs vary across the state. Kahului has the lowest average cost for a semi-private room in the state at $11,345, and Kahului has the lowest average cost for a private room at $12,471 per month. The area with the highest average cost for a semi-private room in the state is Honolulu where the average price is $12,471, and Honolulu has the highest price for a private room at $15,056 per month.
If you can stay at home but need a little help, home care is an excellent alternative to moving into a facility, which allows you to stay at home and brings care to you. There are two types of home care that can help meet your needs. One option is homemaker services, where a non-medical caregiver goes to your home to help with basic living activities, like grocery shopping, meal preparation, housekeeping, and cleaning. The other option is to hire a home health aide. A home health aide assists with bathing and toileting and can provide health monitoring, like taking pulse and blood pressure readings. Home health aides can also monitor the person’s mental health condition they are helping.
The cost difference between the two care types is not very big, only about 6.0%, but the type of care you need will determine what type of training the aide needs. The average hourly cost of a home health aide is $29.95 per hour, and the homemaker service averages $29.95 an hour. Again, Kahului has the lowest average cost in the state, with costs averaging about 5% below the average at $28.32 per hour. The highest average cost is in Honolulu, where the cost is 0% higher than the state average at just under $29.95 an hour.
Cost of memory care in Hawaii
Memory care is the fastest-growing care segment in the U.S. as measured by the number of individuals needing the care and the number of memory care providers. Memory care specializes in the care of residents or patients with Alzheimer’s disease or other forms of dementia. Memory care is provided at a standalone memory care facility or at an additional cost in an assisted living facility or nursing home.
Memory care is typically an additional cost above assisted living or a nursing home. The incremental cost is due to these residents’ receiving 24-hour long-term care. This additional cost is between $1,075 and $1,125 per month in Hawaii.
The cost of senior care in Georgia is higher than the national average. It’s important to understand the main differences between living and care arrangements when deciding the best setting for an older adult transitioning to senior care. The cost of home care, assisted living, and nursing homes can be significant, depending on your location and necessary care level. Here, we describe these differences and introduce some options to help you pay for senior care in Georgia.
Cost of assisted living in Georgia
Multiple factors influence the cost of assisted living in Georgia. Many of these factors depend on the type and level of care you need. Long-term care financial company Genworth reported in 2024 that the average cost of assisted living in Georgia is $4,120 per month. This cost has increased by 16.55% since the last report in 2021.
The level of care a person requires will impact the cost of assisted living, but where you live also matters. The monthly cost varies by as much as $2,203 a month, depending on where you live in the state. The cost of assisted living ranges from a low of $2,545 in the Dalton area to a high of $4,748 per month in the Augusta area of Georgia.
The difference between nursing homes and assisted living facilities is in their accommodations and the level of care they provide. In nursing homes, the living environment is more clinical, where residents live in a private or semi-private room without a living room or kitchen area. In assisted living facilities, residents live in apartments with a private bathroom and kitchenette.
The cost of nursing homes in Georgia is nearly 100% greater than that of assisted living facilities. The average cost for a semi-private room is $7,939 per month, and a private room is $8,365 per month. These costs vary across the state. Columbus has the lowest average cost for a semi-private room in the state at $6,813, and Columbus has the lowest average cost for a private room at $18,387 per month. The area with the highest average cost for a semi-private room in the state is Gainesville where the average price is $18,387, and Gainesville has the highest price for a private room at $18,387 per month.
If you can stay at home but need a little help, home care is an excellent alternative to moving into a facility, which allows you to stay at home and brings care to you. There are two types of home care that can help meet your needs. One option is homemaker services, where a non-medical caregiver goes to your home to help with basic living activities, like grocery shopping, meal preparation, housekeeping, and cleaning. The other option is to hire a home health aide. A home health aide assists with bathing and toileting and can provide health monitoring, like taking pulse and blood pressure readings. Home health aides can also monitor the person’s mental health condition they are helping.
The cost difference between the two care types is about 16.9%, so you should consider the type of care that is needed and research your care options based on the needs in order to potentially save money. The average hourly cost of a home health aide is $24.96 per hour, and the homemaker service averages $26.95 an hour. Athens has the lowest average cost in the state, with costs averaging about 46% below the average at $13.97 per hour. The highest average cost is in Gainesville, where the cost is 19% higher than the state average at just under $30.95 an hour.
Cost of memory care in Georgia
Memory care is the fastest-growing care segment in the U.S. as measured by the number of individuals needing the care and the number of memory care providers. Memory care specializes in the care of residents or patients with Alzheimer’s disease or other forms of dementia. Memory care is provided at a standalone memory care facility or at an additional cost in an assisted living facility or nursing home.
Memory care is typically an additional cost above assisted living or a nursing home. The incremental cost is due to these residents’ receiving 24-hour long-term care. This additional cost is between $575 and $1,500 per month in Georgia.
Residents in Florida typically pay more than the national average for senior care. It’s important to understand the main differences between living and care arrangements when deciding the best setting for an older adult transitioning to senior care. The cost of home care, assisted living, and nursing homes can be significant, depending on your location and necessary care level. Here, we describe these differences and introduce some options to help you pay for senior care in Florida.
Cost of assisted living in Florida
Multiple factors influence the cost of assisted living in Florida. Many of these factors depend on the type and level of care you need. Long-term care financial company Genworth reported in 2024 that the average cost of assisted living in Florida is $4,750 per month. This cost has increased by 18.75% since the last report in 2021.
The level of care a person requires will impact the cost of assisted living, but where you live also matters. The monthly cost varies by as much as $5,760 a month, depending on where you live in the state. The cost of assisted living ranges from a low of $2,295 in the Pensacola area to a high of $8,055 per month in the Gainesville area of Florida.
The difference between nursing homes and assisted living facilities is in their accommodations and the level of care they provide. In nursing homes, the living environment is more clinical, where residents live in a private or semi-private room without a living room or kitchen area. In assisted living facilities, residents live in apartments with a private bathroom and kitchenette.
The cost of nursing homes in Florida is nearly 120% greater than that of assisted living facilities. The average cost for a semi-private room is $9,885 per month, and a private room is $11,406 per month. These costs vary across the state. Sebring has the lowest average cost for a semi-private room in the state at $7,908, and Sebastian has the lowest average cost for a private room at $8,608 per month. The area with the highest average cost for a semi-private room in the state is Gainesville where the average price is $9,338, and Tallahassee has the highest price for a private room at $26,447 per month.
If you can stay at home but need a little help, home care is an excellent alternative to moving into a facility, which allows you to stay at home and brings care to you. There are two types of home care that can help meet your needs. One option is homemaker services, where a non-medical caregiver goes to your home to help with basic living activities, like grocery shopping, meal preparation, housekeeping, and cleaning. The other option is to hire a home health aide. A home health aide assists with bathing and toileting and can provide health monitoring, like taking pulse and blood pressure readings. Home health aides can also monitor the person’s mental health condition they are helping.
The cost difference between the two care types is about 16.3%, so you should consider the type of care that is needed and research your care options based on the needs in order to potentially save money. The average hourly cost of a home health aide is $29.45 per hour, and the homemaker service averages $29.95 an hour. Crestview has the lowest average cost in the state, with costs averaging about 31% below the average at $20.46 per hour. The highest average cost is in Punta Gorda, where the cost is 56% higher than the state average at just under $46.42 an hour.
Cost of memory care in Florida
Memory care is the fastest-growing care segment in the U.S. as measured by the number of individuals needing the care and the number of memory care providers. Memory care specializes in the care of residents or patients with Alzheimer’s disease or other forms of dementia. Memory care is provided at a standalone memory care facility or at an additional cost in an assisted living facility or nursing home.
Memory care is typically an additional cost above assisted living or a nursing home. The incremental cost is due to these residents’ receiving 24-hour long-term care. This additional cost is between $709 and $1,343 per month in Florida.
Senior care in Delaware costs more than the national average. It’s important to understand the main differences between living and care arrangements when deciding the best setting for an older adult transitioning to senior care. The cost of home care, assisted living, and nursing homes can be significant, depending on your location and necessary care level. Here, we describe these differences and introduce some options to help you pay for senior care in Delaware.
Cost of assisted living in Delaware
There are a lot of factors that influence the cost of assisted living in Delaware. Many of these factors depend on the type and level of care you need. In the latest data published by Genworth, the average cost of assisted living in Delaware is $5,995 per month. This cost has decreased by 10.39% in the last year.
The level of care a person requires will impact the cost of assisted living, but where you live also matters. The monthly cost varies by as much as $ a month, depending on where you live in the state. The cost of assisted living will vary in different areas of the state. In Dover, the cost of assisted living averages $6,073 per month.
The difference between nursing homes and assisted living facilities is in their accommodations and the level of care they provide. In nursing homes, the living environment is more clinical, where residents live in a private or semi-private room without a living room or kitchen area. In assisted living facilities, residents live in apartments with a private bathroom and kitchenette.
The cost of nursing homes in Delaware is nearly 110% greater than that of assisted living facilities. The average cost for a semi-private room is $12,273 per month, and a private room is $12,577 per month. These costs vary across the state. As with assisted living, the cost of nursing home care will vary across the state. As an example, the cost of a semi-private room in Dover averages $12,653 a month and a private room averages $12,836 per month.
If you can stay at home but need a little help, home care is an excellent alternative to moving into a facility, which allows you to stay at home and brings care to you. There are two types of home care that can help meet your needs. One option is homemaker services, where a non-medical caregiver goes to your home to help with basic living activities, like grocery shopping, meal preparation, housekeeping, and cleaning. The other option is to hire a home health aide. A home health aide assists with bathing and toileting and can provide health monitoring, like taking pulse and blood pressure readings. Home health aides can also monitor the person’s mental health condition they are helping.
The cost difference between the two care types is about 12.3%, so you should consider the type of care needed and research your care options based on the needs to save money. The average hourly cost of a home health aide is $27.95 per hour, and the homemaker service also averages $27.95 an hour.
Cost of memory care in Delaware
Memory care is the fastest-growing care segment in the U.S. as measured by the number of individuals needing the care and the number of memory care providers. Memory care specializes in the care of residents or patients with Alzheimer’s disease or other forms of dementia. Memory care is provided at a standalone memory care facility or at an additional cost in an assisted living facility or nursing home.
Memory care is typically an additional cost above assisted living or a nursing home. The incremental cost is due to these residents receiving 24-hour long-term care. This additional cost averages $1,508 per month in Delaware.
Connecticut’s cost of senior care is lower than the national average. It’s important to understand the main differences between living and care arrangements when deciding the best setting for an older adult transitioning to senior care. The cost of home care, assisted living, and nursing homes can be significant, depending on your location and necessary care level. Here, we describe these differences and introduce some options to help you pay for senior care in Connecticut.
Cost of assisted living in Connecticut
There are many factors that influence the cost of assisted living in Connecticut. Many of these factors depend on the type and level of care you need. According to the latest data published by Genworth, the average cost of assisted living in Connecticut is $4,776 per month. This cost has decreased by 6.88% since the last report in 2021.
The level of care a person requires will impact the cost of assisted living, but where you live also matters. The monthly cost varies by as much as $10,275 a month, depending on where you live in the state. The cost of assisted living ranges from a low of $5,475 in the New Haven area to a high of $15,750 per month in the Norwich area of Connecticut.
The difference between nursing homes and assisted living facilities is in their accommodations and the level of care they provide. In nursing homes, the living environment is more clinical, where residents live in a private or semi-private room without a living room or kitchen area. In assisted living facilities, residents live in apartments with a private bathroom and kitchenette.
The cost of nursing homes in Connecticut is nearly 230% greater than that of assisted living facilities. The average cost for a semi-private room is $15,056 per month, and a private room is $16,577 per month. These costs vary across the state. Hartford has the lowest average cost for a semi-private room in the state at $13,688, and Hartford has the lowest average cost for a private room at $17,444 per month. The area with the highest average cost for a semi-private room in the state is Bridgeport where the average price is $17,444, and Bridgeport has the highest price for a private room at $17,991 per month.
If you can stay at home but need a little help, home care is an excellent alternative to moving into a facility, which allows you to stay at home and brings care to you. There are two types of home care that can help meet your needs. One option is homemaker services, where a non-medical caregiver goes to your home to help with basic living activities, like grocery shopping, meal preparation, housekeeping, and cleaning. The other option is to hire a home health aide. A home health aide assists with bathing and toileting and can provide health monitoring, like taking their pulse and blood pressure readings. Home health aides can also monitor the person’s mental health condition they are helping.
The cost difference between the two care types is about 24.1%, so you should consider the type of care that is needed and research your care options based on the needs in order to potentially save money. The average hourly cost of a home health aide is $30.95 per hour, and the homemaker service averages $34.94 an hour. Hartford has the lowest average cost in the state, averaging about 23% below the average at $25.21 per hour. The highest average cost is in Norwich, where the cost is 9% higher than the state average at just under $35.94 an hour.
Memory care is the fastest-growing care segment in the U.S. as measured by the number of individuals needing the care and the number of memory care providers. Memory care specializes in the care of residents or patients with Alzheimer’s disease or other forms of dementia. Memory care is provided at a standalone memory care facility or at an additional cost in an assisted living facility or nursing home.
Memory care is typically an additional cost above assisted living or a nursing home. The incremental cost is due to these residents’ receiving 24-hour long-term care. This additional cost is between $938 and $1,588 per month in Connecticut.
The cost of senior care in Colorado is higher than the national average. It’s important to understand the main differences between living and care arrangements when deciding the best setting for an older adult transitioning to senior care. The cost of home care, assisted living, and nursing homes can be significant, depending on your location and necessary care level. Here, we describe these differences and introduce some options to help you pay for senior care in Colorado.
Cost of assisted living in Colorado
Multiple factors influence the cost of assisted living in Colorado. Many of these factors depend on the type and level of care you need. Long-term care financial company Genworth reported in 2024 that the average cost of assisted living in Colorado is $5,073 per month. This cost has increased by 6.8% since the last report in 2021.
The level of care a person requires will impact the cost of assisted living, but where you live also matters. The monthly cost varies by as much as $833 a month, depending on where you live in the state. The cost of assisted living ranges from a low of $4,600 in the Boulder area to a high of $5,433 per month in the Fort Collins area of Colorado.
The difference between nursing homes and assisted living facilities is in their accommodations and the level of care they provide. In nursing homes, the living environment is more clinical, where residents live in a private or semi-private room without a living room or kitchen area. In assisted living facilities, residents live in apartments with a private bathroom and kitchenette.
The cost of nursing homes in Colorado is nearly 100% greater than that of assisted living facilities. The average cost for a semi-private room is $9,475 per month, and a private room is $10,433 per month. These costs vary across the state. Colorado Springs has the lowest average cost for a semi-private room in the state at $9,125, and Denver has the lowest average cost for a private room at $12,015 per month. The area with the highest average cost for a semi-private room in the state is Boulder where the average price is $12,015, and Boulder has the highest price for a private room at $11,923 per month.
If you can stay at home but need a little help, home care is an excellent alternative to moving into a facility, which allows you to stay at home and brings care to you. There are two types of home care that can help meet your needs. One option is homemaker services, where a non-medical caregiver goes to your home to help with basic living activities, like grocery shopping, meal preparation, housekeeping, and cleaning. The other option is to hire a home health aide. A home health aide assists with bathing and toileting and can provide health monitoring, like taking pulse and blood pressure readings. Home health aides can also monitor the person’s mental health condition they are helping.
The cost difference between the two care types is about 26.6%, so you should consider the type of care needed and research your care options based on the needs to potentially save money. The average hourly cost of a home health aide is $34.94 per hour, and the homemaker service averages $37.41 an hour. Again, Fort Collins has the lowest average cost in the state, with costs averaging about 56% below the average at $15.97 per hour. The highest average cost is in Boulder, where the cost is 24% higher than the state average at just under $44.92 an hour.
Cost of memory care in Colorado
Memory care is the fastest-growing care segment in the U.S. as measured by the number of individuals needing the care and the number of memory care providers. Memory care specializes in the care of residents or patients with Alzheimer’s disease or other forms of dementia. Memory care is provided at a standalone memory care facility or at an additional cost in an assisted living facility or nursing home.
Memory care is typically an additional cost above assisted living or a nursing home. The incremental cost is due to these residents’ receiving 24-hour long-term care. This additional cost is between $950 and $1,187 per month in Colorado.
Residents in California typically pay more than the national average for senior care. It’s important to understand the main differences between living and care arrangements when deciding the best setting for an older adult transitioning to senior care. The cost of home care, assisted living, and nursing homes can be significant, depending on your location and necessary care level. Here, we describe these differences and introduce some options to help you pay for senior care in California.
Cost of assisted living in California
Multiple factors influence the cost of assisted living in California. Many of these factors depend on the type and level of care you need. Long-term care financial company Genworth reported in 2021 that the average cost of assisted living in California is $5,250 per month. This cost has increased by 5.% in the last year.
The level of care a person requires will impact the cost of assisted living, but where you live also matters. The monthly cost varies by as much as $3,598 a month, depending on where you live in the state. The cost of assisted living ranges from a low of $3,450 in the Visalia area to a high of $7,048 per month in the Santa Rosa area of California.
The difference between nursing homes and assisted living facilities is in their accommodations and the level of care they provide. In nursing homes, the living environment is more clinical, where residents live in a private or semi-private room without a living room or kitchen area. In assisted living facilities, residents live in apartments with a private bathroom and kitchenette.
The cost of nursing homes in California is nearly 110% greater than that of assisted living facilities. The average cost for a semi-private room is $9,794 per month, and a private room is $12,167 per month. These costs vary across the state. Madera has the lowest average cost for a semi-private room in the state at $7,559, and Madera has the lowest average cost for a private room at $11,863 per month. The area with the highest average cost for a semi-private room in the state is San Jose, where the average price is $11,863, and Santa Maria has the highest price for a private room at $15,665 per month.
If you can stay at home but need a little help, home care is an excellent alternative to moving into a facility, which allows you to stay at home and brings care to you. There are two types of home care that can help meet your needs. One option is homemaker services, where a non-medical caregiver goes to your home to help with basic living activities, like grocery shopping, meal preparation, housekeeping, and cleaning. The other option is to hire a home health aide. A home health aide assists with bathing and toileting and can provide health monitoring, like taking pulse and blood pressure readings. Home health aides can also monitor the person’s mental health condition they are helping.
The cost difference between the two care types is about 13.9%, so you should consider the type of care needed and research your care options based on your needs to save money. The average hourly cost of a home health aide is $31.94 per hour, and the homemaker service averages $31.94 an hour. Again, MaderaHanford has the lowest average cost in the state, with costs averaging about 100% below the average at $.0 per hour. The highest average cost is in San Luis Obispo, where the cost is 17% higher than the state average at just under $37.43 an hour.
Cost of memory care in California
Memory care is the fastest-growing care segment in the U.S. as measured by the number of individuals needing the care and the number of memory care providers. Memory care specializes in the care of residents or patients with Alzheimer’s disease or other forms of dementia. Memory care is provided at a standalone memory care facility or at an additional cost in an assisted living facility or nursing home.
Memory care is typically an additional cost above assisted living or a nursing home. The incremental cost is due to these residents’ receiving 24-hour long-term care. This additional cost is between $993 and $1,463 per month in California.
The cost of senior care in Arkansas is higher than the national average. When deciding the best setting for an older adult transitioning to senior care, it’s important to understand the main differences between living and care arrangements. The cost of home care, assisted living, and nursing homes can be significant, depending on your location and necessary care level. Here, we describe these differences and introduce some options to help you pay for senior care in Arkansas.
Cost of assisted living in Arkansas
Multiple factors influence the cost of assisted living in Arkansas. Many of these factors depend on the type and level of care you need. Long-term care financial company Genworth reported in 2024 that the average cost of assisted living in Arkansas is $4,146 per month. This cost has increased by 10.27% since the last report in 2021.
The level of care a person requires will impact the cost of assisted living, but where you live also matters. The monthly cost varies by as much as $1,057 a month, depending on where you live in the state. The cost of assisted living ranges from a low of $3,376 in the Fort Smith area to a high of $4,433 per month in the Little Rock area of Arkansas.
The difference between nursing homes and assisted living facilities is in their accommodations and the level of care they provide. In nursing homes, the living environment is more clinical, where residents live in a private or semi-private room without a living room or kitchen area. In assisted living facilities, residents live in apartments with a private bathroom and kitchenette.
The cost of nursing homes in Arkansas is nearly 80% greater than that of assisted living facilities. The average cost for a semi-private room is $6,996 per month, and a private room is $7,908 per month. These costs vary across the state. Fort Smith has the lowest average cost for a semi-private room in the state at $6,083, and Fort Smith has the lowest average cost for a private room at $8,441 per month. The area with the highest average cost for a semi-private room in the state is Little Rock, where the average price is $8,441, and Hot Springs has the highest price for a private room at $10,570 per month.
If you can stay at home but need a little help, home care is an excellent alternative to moving into a facility, which allows you to stay at home and brings care to you. There are two types of home care that can help meet your needs. One option is homemaker services, where a non-medical caregiver goes to your home to help with basic living activities, like grocery shopping, meal preparation, housekeeping, and cleaning. The other option is to hire a home health aide. A home health aide assists with bathing and toileting and can provide health monitoring, like taking pulse and blood pressure readings. Home health aides can also monitor the person’s mental health condition they are helping.
The cost difference between the two care types is about 11.2%, so you should consider the type of care needed and research your care options based on the needs to potentially save money. The average hourly cost of a home health aide is $18.97 per hour, and the homemaker service averages $29.95 an hour. Hot Springs has the lowest average cost in the state, averaging about 59% below the average at $9.98 per hour. The highest average cost is in Fort Smith, where the cost is 91% higher than the state average at just under $46.67 an hour.
Cost of memory care in Arkansas
Memory care is the fastest-growing care segment in the U.S. as measured by the number of individuals needing the care and the number of memory care providers. Memory care specializes in the care of residents or patients with Alzheimer’s disease or other forms of dementia. Memory care is provided at a standalone memory care facility or at an additional cost in an assisted living facility or nursing home.
Memory care is typically more expensive than assisted living or a nursing home. The incremental cost is due to these residents’ receiving 24-hour long-term care. This additional cost is between $660 and $1,195 monthly in Arkansas.
Senior care in Arizona costs more than the national average. It’s important to understand the main differences between living and care arrangements when deciding the best setting for an older adult transitioning to senior care. The cost of home care, assisted living, and nursing homes can be significant, depending on your location and necessary care level. Here, we describe these differences and introduce some options to help you pay for senior care in Arizona.
Cost of assisted living in Arizona
Multiple factors influence the cost of assisted living in Arizona. Many of these factors depend on the type and level of care you need. Long-term care financial company Genworth reported in 2024 that the average cost of assisted living in Arizona is $5,500 per month. This cost has increased by 37.5% since the last report in 2021.
The level of care a person requires will impact the cost of assisted living, but where you live also matters. The monthly cost varies by as much as $1,875 a month, depending on where you live in the state. The cost of assisted living ranges from a low of $4,575 in the Tucson area to a high of $6,450 per month in the Prescott Valley area of Arizona.
The difference between nursing homes and assisted living facilities is in their accommodations and the level of care they provide. In nursing homes, the living environment is more clinical, where residents live in a private or semi-private room without a living room or kitchen area. In assisted living facilities, residents live in apartments with a private bathroom and kitchenette.
The cost of nursing homes in Arizona is nearly 50% greater than that of assisted living facilities. The average cost for a semi-private room is $7,604 per month, and a private room is $9,429 per month. These costs vary across the state. Lake Havasu has the lowest average cost for a semi-private room in the state at $5,962, and Phoenix has the lowest average cost for a private room at $10,646 per month. The area with the highest average cost for a semi-private room in the state is Yuma, where the average price is $10,646, and Yuma has the highest price for a private room at $12,167 per month.
If you can stay at home but need a little help, home care is an excellent alternative to moving into a facility, which allows you to stay at home and brings care to you. There are two types of home care that can help meet your needs. One option is homemaker services, where a non-medical caregiver goes to your home to help with basic living activities, like grocery shopping, meal preparation, housekeeping, and cleaning. The other option is to hire a home health aide. A home health aide assists with bathing and toileting and can provide health monitoring, like taking pulse and blood pressure readings. Home health aides can also monitor the person’s mental health condition they are helping.
The cost difference between the two care types is about 16.4%, so you should consider the type of care that is needed and research your care options based on the needs to potentially save money. The average hourly cost of a home health aide is $32.94 per hour, and the homemaker service averages $35.94 an hour. Lake Havasu has the lowest average cost in the state, with costs averaging about 13% below the average at $29.95 per hour. The highest average cost is in Phoenix, where the cost is 1% higher than the state average at just under $34.69 an hour.
Cost of memory care in Arizona
Memory care is the fastest-growing care segment in the U.S. as measured by the number of individuals needing the care and the number of memory care providers. Memory care specializes in the care of residents or patients with Alzheimer’s disease or other forms of dementia. Memory care is provided at a standalone memory care facility or at an additional cost in an assisted living facility or nursing home.
Memory care is typically an additional cost above assisted living or a nursing home. The incremental cost is due to these residents’ receiving 24-hour long-term care. This additional cost is between $868 and $1,250 per month in Arizona.
Alaska’s cost of senior care is lower than the national average. It’s important to understand the main differences between living and care arrangements when deciding the best setting for an older adult transitioning to senior care. The cost of home care, assisted living, and nursing homes can be significant, depending on your location and necessary care level. Here, we describe these differences and introduce some options to help you pay for senior care in Alaska.
Cost of assisted living in Alaska
Multiple factors influence the cost of assisted living in Alaska. Many of these factors depend on the type and level of care you need. Long-term care financial company Genworth reported in 2021 that the average cost of assisted living in Alaska is $6,830 per month. This cost has increased by 2.98% in the last year.
The level of care a person requires will impact the cost of assisted living, but where you live also matters. The monthly cost varies by as much as $ a month, depending on where you live in the state. The cost of assisted living ranges from a low of $6,765 in the Anchorage area to a high of $6,765 per month in the Anchorage area of Alaska.
The difference between nursing homes and assisted living facilities is in their accommodations and the level of care they provide. In nursing homes, the living environment is more clinical, where residents live in a private or semi-private room without a living room or kitchen area. In assisted living facilities, residents live in apartments with a private bathroom and kitchenette.
The cost of nursing homes in Alaska is nearly 360% greater than that of assisted living facilities. The average cost for a semi-private room is $31,512 per month, and a private room is $31,512 per month. These costs vary across the state. Anchorage has the lowest average cost for a semi-private room in the state at $24,282, and Anchorage has the lowest average cost for a private room at $24,282 per month. The area with the highest average cost for a semi-private room in the state is Anchorage, where the average price is $24,282, and Anchorage has the highest price for a private room at $24,282 per month.
If you can stay at home but need a little help, home care is an excellent alternative to moving into a facility, which allows you to stay at home and brings care to you. There are two types of home care that can help meet your needs. One option is homemaker services, where a non-medical caregiver goes to your home to help with basic living activities, like grocery shopping, meal preparation, housekeeping, and cleaning. The other option is to hire a home health aide. A home health aide assists with bathing and toileting and can provide health monitoring, like taking pulse and blood pressure readings. Home health aides can also monitor the person’s mental health condition they are helping.
The cost difference between the two care types is about 19.4%, so you should consider the type of care needed and research your options based on the need to save money. The average hourly cost of a home health aide is $29.95 per hour, and the homemaker service averages $29.95 an hour. Again, Anchorage has the lowest average cost in the state, with costs averaging about -1% below the average at $30.20 per hour. The highest average cost is in Anchorage, where the cost is 1% higher than the state average at just under $30.20 an hour.
Memory care is the fastest-growing care segment in the U.S. as measured by the number of individuals needing the care and the number of memory care providers. Memory care specializes in the care of residents or patients with Alzheimer’s disease or other forms of dementia. Memory care is provided at a standalone memory care facility or at an additional cost in an assisted living facility or nursing home.
Memory care is typically an additional cost above assisted living or a nursing home. The incremental cost is due to these residents receiving 24-hour long-term care. This additional cost averages $875 per month in Alaska.
Residents in Indiana typically pay more than the national average for senior care. It’s important to understand the main differences between living and care arrangements when deciding the best setting for an older adult transitioning to senior care. The cost of home care, assisted living, and nursing homes can be significant, depending on your location and necessary care level. Here, we describe these differences and introduce some options to help you pay for senior care in Indiana.
Cost of assisted living in Indiana
Multiple factors influence the cost of assisted living in Indiana. Many of these factors depend on the type and level of care you need. Long-term care financial company Genworth reported in 2024 that the average cost of assisted living in Indiana is $5,013 per month. This cost has increased by 17.04% since the last report in 2021.
The level of care a person requires will impact the cost of assisted living, but where you live also matters. The monthly cost varies by as much as $4,137 a month, depending on where you live in the state. The cost of assisted living ranges from a low of $3,108 in the Bloomington area to a high of $7,245 per month in the Evansville area of Indiana.
The difference between nursing homes and assisted living facilities is in their accommodations and the level of care they provide. In nursing homes, the living environment is more clinical, where residents live in a private or semi-private room without a living room or kitchen area. In assisted living facilities, residents live in apartments with a private bathroom and kitchenette.
The cost of nursing homes in Indiana is nearly 80% greater than that of assisted living facilities. The average cost for a semi-private room is $7,878 per month, and a private room is $9,703 per month. These costs vary across the state. Terre Haute has the lowest average cost for a semi-private room in the state at $6,646, and Evansville has the lowest average cost for a private room at $10,965 per month. The area with the highest average cost for a semi-private room in the state is Michigan City where the average price is $10,965, and South Bend has the highest price for a private room at $13,611 per month.
If you can stay at home but need a little help, home care is an excellent alternative to moving into a facility, which allows you to stay at home and brings care to you. There are two types of home care that can help meet your needs. One option is homemaker services, where a non-medical caregiver goes to your home to help with basic living activities, like grocery shopping, meal preparation, housekeeping, and cleaning. The other option is to hire a home health aide. A home health aide assists with bathing and toileting and can provide health monitoring, like taking pulse and blood pressure readings. Home health aides can also monitor the person’s mental health condition they are helping.
The cost difference between the two care types is about 19.7%, so you should consider the type of care that is needed and research your care options based on the needs to potentially save money. The average hourly cost of a home health aide is $30.45 per hour, and the homemaker service averages $34.94 an hour. Lafayette has the lowest average cost in the state, averaging about 8% below the average at $29.95 per hour. The highest average cost is in Terre Haute, which is 11% higher than the state average at just under $36.43 an hour.
Cost of memory care in Indiana
Memory care is the fastest-growing care segment in the U.S. as measured by the number of individuals needing the care and the number of memory care providers. Memory care specializes in the care of residents or patients with Alzheimer’s disease or other forms of dementia. Memory care is provided at a standalone memory care facility or at an additional cost in an assisted living facility or nursing home.
Memory care is typically an additional cost above assisted living or a nursing home. The incremental cost is due to these residents’ receiving 24-hour long-term care. This additional cost is between $742 and $1,421 per month in Indiana.
In Illinois, the cost of senior care is higher than the national average. It’s important to understand the main differences between living and care arrangements when deciding the best setting for an older adult transitioning to senior care. The cost of home care, assisted living, and nursing homes can be significant, depending on your location and necessary care level. Here, we describe these differences and introduce some options to help you pay for senior care in Illinois.
Cost of assisted living in Illinois
Multiple factors influence the cost of assisted living in Illinois. Many of these factors depend on the type and level of care you need. Long-term care financial company Genworth reported in 2024 that the average cost of assisted living in Illinois is $5,225 per month. This cost has increased by 16.42% since the last report in 2021.
The level of care a person requires will impact the cost of assisted living, but where you live also matters. The monthly cost varies by as much as $3,072 a month, depending on where you live in the state. The cost of assisted living ranges from a low of $4,611 in the Springfield area to a high of $7,683 per month in the Kankakee area of Illinois.
The difference between nursing homes and assisted living facilities is in their accommodations and the level of care they provide. In nursing homes, the living environment is more clinical, where residents live in a private or semi-private room without a living room or kitchen area. In assisted living facilities, residents live in apartments with a private bathroom and kitchenette.
The cost of nursing homes in Illinois is nearly 50% greater than that of assisted living facilities. The average cost for a semi-private room is $7,452 per month, and a private room is $8,669 per month. These costs vary across the state. Carbondale has the lowest average cost for a semi-private room in the state at $6,388, and Carbondale has the lowest average cost for a private room at $9,034 per month. The area with the highest average cost for a semi-private room in the state is Champaign where the average price is $9,034, and Chicago has the highest price for a private room at $11,863 per month.
If you can stay at home but need a little help, home care is an excellent alternative to moving into a facility, which allows you to stay at home and brings care to you. There are two types of home care that can help meet your needs. One option is homemaker services, where a non-medical caregiver goes to your home to help with basic living activities, like grocery shopping, meal preparation, housekeeping, and cleaning. The other option is to hire a home health aide. A home health aide assists with bathing and toileting and can provide health monitoring, like taking pulse and blood pressure readings. Home health aides can also monitor the person’s mental health condition they are helping.
The cost difference between the two care types is about 17.0%, so you should consider the type of care that is needed and research your care options based on the needs in order to potentially save money. The average hourly cost of a home health aide is $29.95 per hour, and the homemaker service averages $35.94 an hour. Rockford has the lowest average cost in the state, with costs averaging about 36% below the average at $20.96 per hour. The highest average cost is in Kankakee, where the cost is 3% higher than the state average at just under $33.94 an hour.
Cost of memory care in Illinois
Memory care is the fastest-growing care segment in the U.S. as measured by the number of individuals needing the care and the number of memory care providers. Memory care specializes in the care of residents or patients with Alzheimer’s disease or other forms of dementia. Memory care is provided at a standalone memory care facility or at an additional cost in an assisted living facility or nursing home.
Memory care is typically an additional cost above assisted living or a nursing home. The incremental cost is due to these residents’ receiving 24-hour long-term care. This additional cost is between $875 and $1,190 per month in Illinois.
Senior care in Idaho costs more than the national average. It’s important to understand the main differences between living and care arrangements when deciding the best setting for an older adult transitioning to senior care. The cost of home care, assisted living, and nursing homes can be significant, depending on your location and necessary care level. Here, we describe these differences and introduce some options to help you pay for senior care in Illinois.
Cost of assisted living in Idaho
Multiple factors influence the cost of assisted living in Idaho. Many of these factors depend on the type and level of care you need. Long-term care financial company Genworth reported in 2024 that the average cost of assisted living in Idaho is $5,000 per month. This cost has increased by 30.28% since the last report in 2021.
The level of care a person requires will impact the cost of assisted living, but where you live also matters. The monthly cost varies by as much as $3,975 a month, depending on where you live in the state. The cost of assisted living ranges from a low of $3,125 in the Idaho Falls area to a high of $7,100 per month in the Couer d’Alene area of Idaho.
The difference between nursing homes and assisted living facilities is in their accommodations and the level of care they provide. In nursing homes, the living environment is more clinical, where residents live in a private or semi-private room without a living room or kitchen area. In assisted living facilities, residents live in apartments with a private bathroom and kitchenette.
The cost of nursing homes in Idaho is nearly 120% greater than that of assisted living facilities. The average cost for a semi-private room is $10,494 per month, and a private room is $11,072 per month. These costs vary across the state. Idaho Falls has the lowest average cost for a semi-private room in the state at $1,038, and Pocatello has the lowest average cost for a private room at $10,646 monthly. The area with the highest average cost for a semi-private room in the state is Couer d’Alene where the average price is $10,646, and Lewiston has the highest price for a private room at $15,208 per month.
If you can stay at home but need a little help, home care is an excellent alternative to moving into a facility, which allows you to stay at home and brings care to you. There are two types of home care that can help meet your needs. One option is homemaker services, where a non-medical caregiver goes to your home to help with basic living activities, like grocery shopping, meal preparation, housekeeping, and cleaning. The other option is to hire a home health aide. A home health aide assists with bathing and toileting and can provide health monitoring, like taking pulse and blood pressure readings. Home health aides can also monitor the person’s mental health condition they are helping.
The cost difference between the two care types is about 20.5%, so you should consider the type of care that is needed and research your care options based on the needs in order to potentially save money. The average hourly cost of a home health aide is $33.94 per hour, and the homemaker service averages $31.94 an hour. Again, Boise City has the lowest average cost in the state, with costs averaging about 23% below the average at $25.46 per hour. The highest average cost is in Pocatello, where the cost is 3% higher than the state average at just under $33.94 an hour.
Cost of memory care in Idaho
Memory care is the fastest-growing care segment in the U.S. as measured by the number of individuals needing the care and the number of memory care providers. Memory care specializes in the care of residents or patients with Alzheimer’s disease or other forms of dementia. Memory care is provided at a standalone memory care facility or at an additional cost in an assisted living facility or nursing home.
Memory care is typically an additional cost above assisted living or a nursing home. The incremental cost is due to these residents’ receiving 24-hour long-term care. This additional cost is between $837 and $1,248 per month in Idaho.
Older adults with Alzheimer’s disease or other forms of dementia may require memory care as they age.
The number of older adults living with Alzheimer’s disease and other forms of dementia is higher than ever before. The Alzheimer’s Association reported that in 2022, 6.7% of adults age 65 and older are living with Alzheimer’s disease. They also estimate that by 2050, that percentage of the population is expected to climb to 12.7%.
When a person begins experiencing memory loss, it may be emotionally and physically challenging for the individual and their loved ones. Memory care can help a person with memory loss live safely, comfortably, and with the highest quality of life in a variety of settings.
What is memory care?
People with memory loss may experience cognitive and behavioral symptoms that make living alone unsafe. Some symptoms include forgetfulness, confusion, disorientation, agitation, and wandering or getting lost, among others. Memory care is a specialized form of senior care that helps people living with memory loss, such as Alzheimer’s disease and other forms of dementia, live safely and with the highest quality of life.
People who need memory care can access these services in a variety of residential settings. Not all, but some assisted living facilities and nursing homes provide memory care. Residents who receive memory care in these facilities may live in an area, floor, or wing that is designated to provide memory care. There are also stand-alone memory care facilities that are dedicated to serving only residents who need memory care.
In the very early stages of memory loss, memory care may take place at home. It is important that the adult and their families consult with a doctor to determine the safest and most suitable environment to receive memory care.
What does memory care provide?
The purpose of memory care is to support people with Alzheimer’s disease and other forms of dementia to live safely, comfortably, and with the highest quality of life. Professionals who provide memory care do not specialize in medical services. Rather, they are specially trained to help with daily activities of living while meeting the needs of people experiencing symptoms of memory loss.
Because memory care can take place in a variety of settings, the services may vary. Typically, memory care services focus on personal care and helping people with memory loss.
Common memory care services
24-hour supervision and assistance.
Increased security to help residents if they wander or get lost.
Three meals per day.
Assistance with activities of daily living, like bathing, dressing, eating, toileting, and transferring/mobility.
Housekeeping services (cleaning, laundry).
Specialized and supervised activities.
Transportation (to and from medical appointments).
A prospective long-term care facility that offers memory care or stand-alone memory care facility can meet with the family to discuss the prospective resident’s needs. At that time, the facility and family can develop a personalized care plan to meet their needs.
Paying for memory care
When you or your loved one determine that it’s time to have memory care, it can be a costly but necessary expense. There are many ways to pay for memory care. Personal funds, insurance policies, loans, and even extra benefits can help pay for home care services to help older adults get the care they need while living with memory loss.
A nursing home provides 24-hour care to older adults who need help with daily activities of living.
As older adults need more help with caring for themselves beyond what in-home or assisted living care can provide, a nursing home may be an option. This type of long-term care facility is designed to provide 24-hour access to help with non-medical, personal care.
Nursing home care can be costly, so it’s important to know what this type of senior care provides to determine if it’s best for you or your loved one.
What is a nursing home?
Nursing homes are long-term care residential facilities for people who need access to 24-hour, non-medical supervision or assistance. While some medical assistance may be available, nursing home staff primarily help residents with personal care.
Nursing homes typically have two different types of rooms: semi-private and private rooms. Staff members are on-site around the clock to help with residents’ needs. Because they’re long-term residences, they have services to make residents feel comfortable and socialize while they get necessary personal assistance.
What does a nursing home provide?
Nursing home staff are on-site 24 hours per day to help with residents’ activities of daily living as needed.
Common services that nursing homes provide
24-hour supervision and assistance.
Medication management and administration.
Assistance with activities of daily living (bathing, grooming, getting dressed, eating).
Three meals per day.
Social activities.
Transportation (to medical appointments).
How nursing homes differ from skilled nursing facilities
A nursing home is different from a skilled nursing facility. Nursing homes are residences for long-term residents who need help with non-medical tasks. Skilled nursing facilities, on the other hand, are settings where people to stay for shorter periods of time to get medical care after a hospital visit before going home or moving to a different type of facility.
How nursing homes differ from assisted living facilities
A nursing home is also different from an assisted living facility. While a nursing home and assisted living facility are both long-term residences for older adults, a nursing home is more suitable for a person who requires 24-hour access to help with basic living tasks. Assisted living facilities are more suitable for people who can remain fairly independent because they have a lower level of need for care, but enjoy the safety and comfort of having access to some assistance.
Paying for a nursing home
When you or your loved one determine that moving to a nursing home is the best option for senior living, there are many ways to pay for nursing home costs. Personal funds, insurance policies, loans, and even extra benefits can help pay for home care services to help older adults continue living at home while getting the help they need.
Assisted living offers older adults the opportunity to live with peers and have access to services that let them live a safe, comfortable, and maintenance-free lifestyle.
When older adults determine that living at home has become too difficult, unsafe, or undesirable, they may decide it’s time to move to a senior living community. Assisted living facilities can offer necessary help to older adults while they live maintenance-free lives in safety and comfort.
Because assisted living communities can be costly, it’s important to know what this type of residential setting provides to determine if it’s suitable for you or your loved one.
What is assisted living?
Assisted living is a type of residence for older adults who want to remain as independent as possible but need personal or medical help. These facilities aim to provide a communal environment for their residents and offer a range of services that help with housekeeping and maintenance, personal hygiene, nutrition, and medication needs.
What does an assisted living facility provide?
Assisted living facilities provide services that help older adults maintain as much independence as possible while getting the help they need. Typically, assisted living facilities are buildings with studio or one-bedroom apartments that have bathrooms and kitchenettes. Residents can prepare their own meals at home or have meals in the common dining room. They have the privacy of their own apartment but can have staff help them with activities of daily living, such as bathing and getting dressed. Residents can also get help managing their medications.
Services vary among facilities, and many have tiers of care that residents can use as their needs increase. Most assisted living facilities offer these types of services:
By providing these types of services, assisted living facilities empower older adults to live maintenance-free lives and get the daily help they need.
Services assisted living facilities may provide at an added cost
Assisted living facilities may offer additional services above their standard services at additional costs. According to the American Health Care Association and National Center for Assisted Living, 14% of assisted living communities offer memory care services for residents who have Alzheimer’s disease or other forms of dementia.
While there are many services that assisted living can provide, services vary from facility to facility. It is important to talk with a prospective facility about additional available services and tiers of care they can provide as residents’ needs change.
Services assisted living facilities don’t provide
Sixty percent of assisted living residents ultimately transition to nursing homes. Often, this is because the resident needs around-the-clock supervision or assistance, and assisted living facilities typically do not offer this level of care.
When a resident requires this level of care, or a chronic illness severely decreases their medical condition or mobility, they may move to a nursing home.
How do I know it’s time for assisted living?
You or your loved one may have home care but realize more assistance is needed. Or, perhaps you or your loved one lives at home, but safety, comfort, or happiness is a concern. Talk about the answers to these questions with your family or loved one to begin considering if assisted living is an option:
What help is needed at home to be safe and happy?
What equipment is needed to continue living at home?
How often is care needed?
Does a doctor suggest moving to an assisted living facility?
When you or your loved one determine it may be time to move to this type of community, there are many ways to pay for assisted living. Personal funds, insurance policies, loans, and even extra benefits can help pay for assisted living to help older adults live as independently as possible while getting the help they need.
Home care may be right for you or your loved one if living at home is safe and the most desirable option for getting senior care services.
There may come a time when an older adult begins to find household chores or personal tasks challenging, but they are not ready to move to a senior living community to get the help they need. AARP’s 2021 Home and Community Preferences Survey polled almost 3,000 adults ages 18 and over, and results showed that about 75% of respondents age 65 and over said they want to remain in their homes or communities for as long as possible.
When an older adult wants to remain living at home but needs help with certain tasks to be safe and comfortable, getting in-home care may be a suitable option to help meet their needs. Home care services vary, provide help with different types of tasks, and can be costly. Therefore, it’s important to learn about this type of senior care to make the best decision for yourself or your loved one. Here, we define the types of home care and what the services entail.
What is home care?
Home care brings services to older adults so they can continue to live at home, rather than move to a senior community, such as an assisted living facility or nursing home, right away. There are multiple types of care that can meet a person’s varying levels of need. For example, a person may need assistance with activities of daily living, like bathing, doing laundry, or managing their medication. Home care providers can help with tasks like these so an older adult can remain living at home longer comfortably and safely.
What does a home care provider do?
Home care providers can help with a wide range of tasks. The types of home care may have different names but are generally divided into three categories: homemaker services, personal care, and skilled care.
The types of home care are defined in part by whether the care helps people with fundamental daily living, other tasks that are not basic to everyday living but that increase one’s quality of life, or medical tasks.
The types of home care are also defined by who can provide the services. A non-medical caregiver can perform certain types of home care services tasks, and medically trained people are required to perform others. Many insurance providers define which services they cover based on these factors.
Homemaker services
Homemaker services help people with instrumental activities of daily living (IADL). IADL tasks are not fundamental to everyday living, but they may increase a person’s comfort or quality of life. Homemaker services do not typically require a medically-trained person and include the following types of tasks:
Laundry.
Light housekeeping.
Meal preparation.
Shopping.
Medication management (not including administering the medication).
Transportation.
Personal care services
Personal care services help people with activities of daily living (ADL). ADL are basic tasks that are fundamental to everyday life. Personal care services may not require a medically-trained person and include the following types of tasks:
Bathing.
Grooming.
Toileting.
Dressing.
Eating.
Transferring (E.g., moving from bed to chair).
Self-ambulation (I.e., moving around without assistance, or with assistance using a device, like using a walker).
Home care agencies, Medicare, Medicaid, or other insurance providers may also refer to personal care as “custodial care.”
Skilled care
Skilled care services help people with medical-health tasks. These types of tasks must be performed by a medically trained person. Some of these tasks include:
Administering medication (as opposed to only managing medications).
Therapy (occupational, physical, speech, and others).
Tracking vital signs.
Home care agencies, Medicare, Medicaid, or other insurance providers may also refer to skilled care as “skilled nursing care.”
It is important to note that a person may need more than one type of care. For example, a person who requires skilled care because they need help with taking medication for a condition that decreases their mobility may also need homemaker services to help with laundry.
What is the difference between homemaker services and personal care?
The main difference between homemaker services and personal care is that personal care helps a person with basic activities of daily living, like bathing. Homemaker services, on the other hand, help with tasks that increase a person’s quality of life, like cleaning.
How do I know which type of home care I need?
You or your loved one may consider home care but don’t know the type that is most suitable for you. Talk about the answers to these questions with your family or loved one to begin considering if home care may be suitable:
What help is needed at home to be safe and happy?
What equipment is needed to continue living at home?
How often is care needed?
Does a doctor suggest having home care services?
When you or your loved one determines that this type of care is needed, there are many ways to pay for home care. Personal funds, insurance policies, loans, and even extra benefits can help pay for home care services to help older adults continue living at home while getting the help they need.
Memory care can be expensive, so understanding the different ways to pay for it can help get your loved one the senior care services they need.
There are many ways to pay for memory care. Someone who needs memory care can utilize their savings, Social Security benefits, pensions, or other retirement income. If personal funds won’t cover all the costs or are not options, other external sources can help cover the cost of memory care.
Insurance
Does Medicare cover memory care costs?
Medicare is a national insurance program that provides health insurance for certain populations of people; one group is adults aged 65 and over. This health insurance program covers certain medical costs. Medicare does not cover the costs of memory care that are not medical.
For example, Medicare does not cover the rent to live in a facility where a person receives memory care. Medicare does cover approved doctor appointments and other medical services the person receives. Depending on the plans the person has, Medicare may help cover certain prescriptions and tests.
Medicaid is a national health insurance program for individuals who meet low-income and asset requirements. It is run jointly by the federal government and individual states. The federal government sets some standards and then allows states to decide the services they provide.
Each state has different Medicaid programs for the different types of care they cover. People with Alzheimer’s disease or other forms of dementia may eventually require 24-hour care in a nursing home or similar facility. Medicaid may pay for nursing home care, depending on the state’s program and if the person financially qualifies for Medicaid.
Many, but not all, nursing homes accept Medicaid as payment for residency. It’s important to talk with a prospective nursing home to determine if it accepts Medicaid before moving in. Medicaid may also cover memory care for eligible individuals in other settings.
Contact the appropriate state Medicaid office to determine which services and care are covered.
Does long-term care insurance cover memory care?
Long-term care insurance is a type of insurance policy designed to help pay for personal care (also known as custodial care) in a variety of residential settings.
Long-term care insurance policies vary in what they do and do not cover. Some long-term care insurance policies help pay for personal, nonmedical memory care costs. Consult with the insurance provider to learn what the policy covers.
It’s important to note that once a person is diagnosed with dementia or Alzheimer’s disease, it may not be possible to acquire long-term care insurance. If a person has a long-term care insurance policy before a diagnosis, consult with the insurance provider to learn if and how it can help pay for memory care.
Does life insurance cover memory care costs?
Some life insurance policies can help pay for memory care costs. The main options that can help cover memory care costs include combination products, long-term care riders, accelerated death benefits, life settlements, and viatical settlements. Each type of insurance product works differently, depending on the policy and the policyholder’s situation.
• Combination products: Some insurance providers offer plans that combine life insurance with long-term care insurance.
• Long-term care riders: An insurance rider is supplemental coverage added to an existing policy that helps cover unexpected situations. This type of supplemental coverage has rules for when and how the policyholder can use them. For example, the policyholder may need to show that they can not perform two activities of daily living independently, such as bathing, dressing, moving to and from bed, or eating. If the person qualifies to use funds from their policy, the dollar amount is deducted from the amount paid out to beneficiaries after death.
• Accelerated death benefits (ADBs): Some life insurance policies have accelerated death benefits, which may be used to help pay for memory care. This feature of a policy allows the policyholder to take an advance on the death benefit of the policy. The dollar amount that the policyholder uses while they are still living is deducted from the benefit paid out to beneficiaries after death. A person may be able to use the ADB feature depending on the rules of their policy.
• Life settlements: Life settlement plans allow the policyholder to sell the policy for its value at the time, and the policyholder can use the funds as they need to. There are age restrictions for using a life settlement (typically 74 years or older for women, 70 years or older for men), and the money may also be taxed. It’s important to note that when a policyholder sells the policy to the settlement company, the company assumes responsibility for paying monthly premiums. It also receives the death benefit upon the policyholder’s death — not the previously named beneficiary.
• Viatical settlements: Viatical settlement plans are similar to life settlement plans because they allow the policyholder to sell the policy for its value. These plans are different from life settlement plans because different rules apply to them. For example, these plans require that the policyholder has a terminal illness and less than a two-year life expectancy, typically. If the policyholder is approved, the settlement is based on a percentage of the death benefit and the life expectancy.
Each policy has different requirements and rules. It’s important to talk with the policy’s provider to determine what situations the policy will help cover.
Sale of your home or assets
Older adults who are moving into a residential setting with memory care may be leaving one of their largest assets: their homes. While some will want to keep their home in the family, others may want to sell their home. Older adults who sell their homes when moving into residential settings with memory care services may be able to use the proceeds of the sale to fund their memory care expenses.
Veterans benefits
Older adult U.S. military Veterans who meet certain criteria can utilize various benefits to help with memory care costs. Below are a few benefits that can help with senior living expenses:
• Aid and Attendance benefit: Eligible individuals who apply and are approved receive the Aid and Attendance benefit, which provides monthly payments that can help pay for care. This benefit can help cover a variety of long-term senior care options, including in-home care, memory care, adult day care, nursing home care, and assisted living.
• Homebound Allowance: Eligible individuals who apply with proof that they have a medical need for assistance or supervision due to a disability and are approved can receive money to help pay for the cost of memory care.
Bridge loans
A bridge loan is a short-term loan that individuals can use to help pay for immediate expenses while they wait for other funding to become available. Typically, these loans are used in commercial industries, like real estate.
ElderLife Financial Services offers its ElderLife Bridge Loan, which is specifically designed for people who need to secure immediate funding for senior care. For example, a person who needs to move to a facility to access memory care may obtain an ElderLife Bridge Loan to pay for residency at the facility while they wait for their home to sell. When the home sells, the person pays off the loan and can use the proceeds from the home sale for their care. This loan helps people access funds immediately so their current financial situation doesn’t prevent them from getting the help they need.
Other financial options
There are other financial options for paying for memory care. Many factors help determine which type of loan is most appropriate: whether the person plans to stay in their home, the type of care the person needs, the person’s financial situation, and the cost of care.
Homeowners can obtain home equity loans, home equity lines of credit (HELOC), and other personal loans to help pay for memory care.
Is memory care tax deductible?
The IRS allows some deductions for unreimbursed long-term care expenses. There are rules, limits, and criteria that must be met. It’s important to consult with an accountant to determine what costs can be tax deductible.
If applicable, some costs that may be tax deductible include:
Some of the criteria that determine memory care is tax-deductible include:
• A licensed health care provider determines the person receiving care is chronically ill.
• Total expenses exceed 7.5% of the person’s adjusted gross income.
It is helpful to know that an adult child can deduct the entire cost of the nursing home if they pay for it, the parent is in a nursing home primarily for medical care, and they claim the parent as a dependent. If the person is in a nursing home not primarily for medical care, then the cost of residency is not deductible, but medical expenses are.
Nursing home care can be expensive. Knowing the options for paying for nursing home care can help ensure your loved one gets the care they need.
There are many ways to pay for nursing home care. A person who needs to live in a nursing home can utilize their savings, Social Security benefits, pensions, or other retirement income. If personal funds won’t cover all the costs or are not options, other external sources can help cover the cost of a nursing home.
Insurance
Does Medicare cover nursing home costs?
Medicare is a national insurance program that provides health insurance for certain populations of people; one group is adults aged 65 and over. This health insurance program covers certain medical costs. Medicare does not cover nursing home costs that are not medical.
Medicare Part A is hospital insurance. This part of Medicare may cover nursing home costs, but it does not cover the cost of custodial care when that is the only care the person needs. It’s important to note that most nursing home services are considered custodial care. These tasks include activities of daily living, like bathing, dressing, toileting, transferring to and from bed, and eating.
There are different types of Medicare plans, and each has rules about the costs they cover and in what circumstances. For example, original Medicare may pay for a specific medically necessary service for a limited amount of time when a person is in a nursing home. Another Medicare plan called Medicare Advantage (Medicare Part C) may cover some costs if the specific nursing home has a contract with the Medicare Advantage provider.
Medicaid is a national health insurance program for individuals who meet low-income and asset requirements. It is run jointly by the federal government and individual states. The federal government sets some standards and then allows states to decide the services they provide.
Each state has different Medicaid programs for different types of care they cover. Depending on the state’s program, Medicaid may pay up to 100% of nursing home care if the person who needs care meets the financial requirements to receive Medicaid.
Many, but not all, nursing homes accept Medicaid as payment for residency. It’s important to talk with a prospective nursing home to determine if they accept Medicaid payment for residency before moving in.
Contact the appropriate state Medicaid office to determine which services and care are covered.
Does long-term care insurance cover nursing home costs?
Long-term care insurance is a type of insurance policy designed to help pay for personal care (also known as custodial care) in a variety of residential settings.
Long-term care insurance policies may vary in what they do and do not cover. Some long-term care insurance policies help pay for nursing home costs, as many services that nursing homes provide are nonmedical.
It’s important to consult with the insurance provider to learn what types of costs and how much the policy covers.
Does life insurance cover nursing home costs?
Some life insurance policies can help pay for nursing home costs. The main options that can help cover nursing home costs include combination products, long-term care riders, accelerated death benefits, life settlements, and viatical settlements. Each type of insurance product works differently, depending on the policy and the policyholder’s situation.
• Combination products: Some insurance providers offer plans that combine life insurance with long-term care insurance.
• Long-term care riders: An insurance rider is supplemental coverage added to an existing policy that helps cover unexpected situations. This type of supplemental coverage has rules that apply to when and how the policyholder can use them. For example, the policyholder may need to show that they can not perform two activities of daily living independently, such as bathing, dressing, moving to and from bed, or eating. If the person qualifies and uses money from their policy, the dollar amount is deducted from the amount paid out to policy beneficiaries after the policyholder dies.
• Accelerated death benefits (ADBs): Some life insurance policies have accelerated death benefits, which may be used to help pay for nursing home care. This feature of a policy allows the policyholder to take an advance on the death benefit of the policy. The dollar amount that the policyholder uses while they are still living is deducted from the benefit paid out to beneficiaries after death. A person may be able to use the ADB feature depending on the rules of their policy. Needing long-term care in a nursing home may be one of these qualifying reasons. The amount the policyholder can use for nursing home care is typically capped at a percentage of the policy’s face value.
• Life settlements: Life settlement plans allow the policyholder to sell the policy for its value at the time, and the policyholder can use the funds as they need to. There are age restrictions for using a life settlement (typically 74 years or older for women, 70 years or older for men), and the money may also be taxed. It’s important to note that when a policyholder sells the policy to the settlement company, the company assumes responsibility for paying monthly premiums. It also receives the death benefit upon the policyholder’s death — not the previously named beneficiary.
• Viatical settlements: Viatical settlement plans are similar to life settlement plans because they allow the policyholder to sell the policy for its value. These plans are different from life settlement plans because different rules apply to them. For example, these plans require that the policyholder has a terminal illness and less than a two-year life expectancy, typically. If the policyholder is approved, the settlement is based on a percentage of the death benefit and the life expectancy.
Each policy has different requirements and rules. It’s important to talk with the policy’s provider to determine if and how much nursing home care the policy will help cover.
Sale of your home or assets
Individuals who are moving into nursing homes may be leaving one of their largest assets: their homes. While some will want to keep their home in the family, others may want to sell their home. Older adults who sell their homes when moving into nursing homes may be able to use the proceeds of the sale to help fund nursing home expenses.
Veterans benefits
Older adult U.S. military Veterans who meet certain criteria can utilize various benefits to help with nursing home costs. Below are a few benefits that can help with senior living expenses:
• Aid and Attendance benefit: Eligible individuals who apply and are approved receive the Aid and Attendance benefit, which provides monthly payments that can help pay for care. This benefit can help cover a variety of long-term senior care options, including in-home care, memory care, adult day care, nursing home care, and assisted living.
• Homebound Allowance: Eligible individuals who apply with proof that they have a medical need for assistance or supervision due to a disability and are approved can receive money to help pay for the cost of nursing home care.
A bridge loan is a short-term loan that individuals can use to help pay for immediate expenses while they wait for other funding to become available. Typically, these loans are used in commercial industries, like real estate.
ElderLife Financial Services offers its ElderLife Bridge Loan, which is specifically designed for people who need to secure immediate funding for senior care. For example, a person who needs to move to a nursing home may obtain an ElderLife Bridge Loan to pay for residency at the facility while they wait for their home to sell. When the home sells, the person pays off the loan and can use the proceeds from the home sale for their care. This loan helps people access funds immediately so their current financial situation doesn’t prevent them from getting the help they need.
Other financial products
There are other financial options for paying for nursing home care. Many factors help determine which type of loan is most appropriate: whether the person plans to stay in their home, the type of care the person needs, the person’s financial situation, and the cost of care.
Homeowners can obtain home equity loans, home equity lines of credit (HELOC), and other personal loans to help pay for nursing home care.
Are nursing home expenses tax deductible?
The IRS allows some deductions for unreimbursed long-term care expenses. There are rules, limits, and criteria that must be met. It’s important to consult with an accountant to determine whether the costs can be tax deductible.
Some costs that may be tax deductible, if they apply to you, include:
Some of the criteria for determining that home care is tax deductible include
A licensed health care provider determines the person receiving care is chronically ill.
Total expenses exceed 7.5% of the person’s adjusted gross income.
It is helpful to know that an adult child may be able to deduct expenses they pay for if they claim the parent as a dependent. Consult with an accountant to determine which expenses are tax deductible.
Assisted living can be costly. Understanding the options for paying for it can help make sure you or your loved one gets the right care.
The cost of assisted living can be high, with prices varying depending on your area. Genworth’s latest Cost of Care Survey found that the national median monthly cost of assisted living is over $5,000. Moving to assisted living is an excellent choice for an older adult who wants to live a maintenance-free life and have access to help with activities of daily living, social opportunities, and more, but you may wonder how you can cover the cost. Here, we’ll go over how to pay for assisted living, including using different types of insurance, various private funding sources, and VA benefits.
Use the proceeds from a home sale
Senior homeowners who are moving to assisted living may have a significant amount of equity in their homes. Selling their home can generate cash to help pay for assisted living costs.
The median home sale price in the United States was $417,700 in 2023, according to the Federal Reserve Bank of St. Louis. Though this amount will vary depending on many factors, the capital a person can liquidate through the sale of their home can come in handy for funding senior living.
Obtain a bridge loan while waiting for permanent funds
The need to move to assisted living sometimes happens quickly, such as after a person sustains an injury or another unforeseen circumstance. A bridge loan is a short-term loan that provides a lump sum to cover immediate expenses at assisted living before permanent funds are available.
People who want to sell their homes and use the funds for assisted living might be good candidates for bridge loans if they need the capital to move to senior living. Even in a fast-paced real estate market where homes sell quickly, emptying the house and going through the closing process require time. If time is of the essence, a bridge loan can help a person pay for the immediate costs of senior living.
Another situation in which a bridge loan could help is when an individual has submitted their Veterans benefits application but needs to move to assisted living quickly. Applications for benefits like Aid and Attendance take time to process, but using a bridge loan can help the applicant move to a community to get the daily long-term care they need as soon as possible. When the application is approved, the senior can repay the loan and use the continuing benefits to help pay for assisted living.
Claim on your long-term care insurance policy
Long-term care insurance (LTCi) is a type of insurance policy designed to help pay for personal care (also known as custodial care) in various residential settings. It can cover the costs of services that traditional health insurance, like Medicare, doesn’t cover, such as assistance with activities of daily living (bathing, grooming, dressing, toileting, feeding, transferring from one position to another, and ambulating). Long-term care insurance policyholders who meet certain criteria can use their policy to help pay for assisted living.
How your LTCi policy will help cover assisted living costs varies because of factors like the policy terms and your situation. Typically, LTCi policies have “trigger events,” which are the circumstances it requires to be in effect in order for the policyholder to make a claim on the policy. For example, a policy may require that the policyholder require help with at least two activities of daily living before they can make a claim.
If you meet the requirements, many policies reimburse you for expenses of rendered services up to a certain maximum amount per day. This maximum daily benefit varies depending on your policy as well. Whether the maximum daily benefit is $50 or $500, using LTCi can go a long way in helping cover the cost of assisted living.
Use your life insurance policy
Though you may typically think of life insurance as protection for your beneficiaries after your passing, some life insurance policies can help pay for assisted living during your lifetime. Whether you can use your policy while you’re alive depends on the type of policy, if you have the additional coverage of particular riders on your policy, and if you meet certain health requirements.
You may be able to settle your policy with a life settlement, which essentially is selling the policy to a third-party company. When the company buys the policy, you receive a lump sum to do with as you wish, including paying for assisted living. The company takes over the premium payments and also becomes the beneficiary after your passing. While the beneficiaries you originally noted on your policy will no longer receive your death benefit, using a life settlement can give you access to funding to pay for the long-term care you need.
Viatical settlements work differently from life settlements but can still help pay for assisted living under the appropriate circumstances. To qualify for this type of settlement, you need to meet certain health criteria and have a life expectancy of typically less than two years. You settle the policy, receive the funds, and can pay for assisted living using the money.
Your policy may also have riders, or add-ons, which can help cover assisted living under certain circumstances. Some policies have long-term care riders, accelerated death benefits, or other additional features that can help fund your care.
Each policy is different, so it’s important to speak with your policy’s provider or a trained expert who can determine if you can use your policy to pay for care and if it is the best choice for your situation.
Use VA benefits to help pay for assisted living
Older adult U.S. military Veterans who meet certain criteria can utilize various benefits to help with assisted living costs. Aid and Attendance is a benefit reserved for Veterans and their spouses who meet requirements related to the Veteran’s military service, net worth and assets, and health criteria. Qualifying U.S. military Veterans and their spouses can potentially receive over $2,000 in additional income each month with the Aid and Attendance benefit, which can be used to cover the cost of assisted living.
Use retirement income and private savings
Many assisted living residents cover the costs with private funds, such as retirement savings. Individuals who contributed to employer-sponsored and other types of retirement accounts for years have likely invested a good deal of money and have hopefully seen it grow over time. Many seniors turn to these savings to fund assisted living.
Though assisted living can be costly, this senior living solution can provide an older adult with the care they need in a homelike setting with many other added benefits. The numerous payment options available can make assisted living a viable residential setting for many seniors.
Paying for in-home care can be costly. Knowing your options to pay for home care can help you or your loved one remain at home for as long as possible.
There are many ways to pay for home care. A person who needs home care can utilize their savings, Social Security benefits, pensions, or other retirement income. If personal funds won’t cover all the costs or are not options, other external sources can help cover the cost of home care.
Insurance
Using insurance like Medicare, Medicaid, long-term care insurance policies, and life insurance policies can help pay for home care. The home care you need and the policy or policies you have will determine what specific home care services are covered.
Does Medicare cover home care costs?
Medicare is a national insurance program that provides health insurance for certain populations of people; one group is adults aged 65 and over. This health insurance program covers certain medical costs. Medicare does not typically cover the costs of home care services that are not medical.
Typically, Medicare does not cover the cost of custodial care, which is another name for personal care. This is because personal care services are not considered medical. In certain circumstances, certain nonmedical services may be covered for a specified amount of time if the policyholder meets certain criteria. For example, a person’s doctor may say that certain nonmedical services, like helping the person bathe and get dressed, are medically necessary.
Medicaid is a national health insurance program for individuals who meet low-income and asset requirements. It is run jointly by the federal government and individual states. The federal government sets some standards and then allows states to decide the services they provide. Even though each state’s rules about Medicaid and home care differ, most states have at least one Medicaid program to support older adults who need home care.
Each state has multiple Medicaid plans, and all plans have different programs for home care. Some of the common ways that states’ Medicaid programs may pay for home care include Regular Medicaid Personal Care Services or Personal Attendant Services and Medicaid waivers.
Contact the appropriate state Medicaid office to determine which services and care are covered.
Does long-term care insurance cover home care costs?
Long-term care insurance is a type of insurance policy designed to help pay for personal care or custodial care support services.
Long-term care insurance policies may vary in what they do and do not cover. Typically, the policy covers services a person may need, but not necessarily where they live. A person who has long-term care insurance may live at home and use long-term care insurance to pay for services that help them with personal care or homemaker tasks.
It’s important to consult with the insurance provider of the person who needs services to learn which types of care the insurance policy covers and for how long those services are covered.
Does life insurance cover home care costs?
Some life insurance policies can help cover home care costs. Depending on the level of care the adult needs as well as their ability and desire to live independently, these services can be provided in the home.
Some typical ways people use life insurance to help pay for home care costs include combination products, accelerated death benefits, life settlements, and viatical settlements. Each works in different ways, depending on the policy.
• Combination products: Some insurance providers offer plans that combine life insurance with long-term care insurance.
• Accelerated death benefits (ADBs): Some life insurance policies have accelerated death benefits. This feature of a policy allows the policyholder to take an advance on the death benefit of the policy. The dollar amount that the policyholder uses while they are still living is deducted from the benefit paid out to beneficiaries after death. A person may be able to use the ADB feature depending on the rules of their policy. Needing long-term care may be one of these qualifying reasons. The amount the policyholder can use for in-home care is typically capped at a percentage of the policy’s face value.
• Life settlements: Life settlement plans allow the policyholder to sell the policy for its value at the time, and the policyholder can use the funds as they need to. There are age restrictions for using a life settlement (typically 74 years or older for women, 70 years or older for men), and the money may also be taxed. It’s important to note that when a policyholder sells the policy to the settlement company, the company assumes responsibility for paying monthly premiums. It also receives the death benefit upon the policyholder’s death — not the previously named beneficiary.
• Viatical settlements: Viatical settlement plans are similar to life settlement plans because they allow the policyholder to sell the policy for its value. These plans are different from life settlement plans because different rules apply to them. For example, these plans require that the policyholder has a terminal illness and less than a two-year life expectancy, typically. If the policyholder is approved, the settlement is based on a percentage of the death benefit and the life expectancy.
Each life insurance policy may cover different services and in different settings, so it’s important to speak with your insurance representative to determine which costs your policy can cover.
Veterans benefits
Older adult U.S. military Veterans who meet certain criteria can utilize various benefits to help with home care costs. Below are a few benefits that can help with senior living expenses:
• Aid and Attendance benefit: Eligible individuals who apply and are approved receive the Aid and Attendance benefit, which provides monthly payments that can help pay for care. This benefit can help cover a variety of long-term senior care options, including in-home care, memory care, adult day care, nursing home care, and assisted living.
• Homebound Allowance: Eligible individuals who apply with proof that they have a medical need for assistance or supervision due to a disability and are approved can receive money to help pay for the cost of home care.
Other financial products
There are other financial options for paying for home care. Many factors help determine which type of loan is most appropriate: whether the person plans to stay in their home, the type of care the person needs, the person’s financial situation, and the cost of care.
Homeowners can obtain home equity loans, home equity lines of credit (HELOCs), and other personal loans to help pay for home care.
Is home care tax deductible?
The IRS allows some deductions for unreimbursed long-term care expenses. There are rules, limits, and criteria that must be met.
If applicable, some costs that may be tax deductible include:
Some of the criteria that determine if home care is tax deductible include:
• A licensed health care provider determines the person receiving care is chronically ill.
• Total expenses exceed 7.5% of the person’s adjusted gross income.
It is helpful to know that an adult child can deduct expenses they pay for if they claim the parent as a dependent. Consult with an accountant to determine what expenses can be tax deductible.
Independent living can be costly, so understanding the different ways to pay for it can help you live they way you want.
There are many ways to pay for independent living. A person who wants to live in an independent living community can use their savings, Social Security benefits, pensions, or other retirement income. If personal funds won’t cover all the costs or are not options, other external sources can help cover the cost of independent living.
Insurance
Does Medicare cover independent living costs?
Medicare is a national insurance program that provides health insurance for certain populations of people; one group is adults aged 65 and over. This health insurance program covers certain medical costs. Medicare does not cover the costs of independent living that are not medical.
For example, a medical cost that Medicare may cover is physical therapy that takes place in the home, regardless of what type of community an older person lives in. An example of a nonmedical cost that Medicare will not cover is rent at an independent living community.
Medicaid is a national health insurance program for individuals who meet low-income and asset requirements. It is run jointly by the federal government and individual states. The federal government sets some standards, then allows states to decide the services they provide.
Each state has different Medicaid programs for the types of care they cover. Medicaid can pay for some senior care costs, but it will not pay for residency at an independent living community.
Contact the appropriate state Medicaid office to determine which services and care are covered.
Does long-term care insurance cover independent living costs?
Long-term care insurance is a type of insurance policy designed to help pay for personal care (also known as custodial care) in a variety of residential settings.
Long-term care insurance policies may vary in what they do and do not cover. Typically, policies cover personal care a person may need, but not necessarily where they live. A person who has long-term care insurance may live in an independent living community and use long-term care insurance to pay for services that help them with personal care or homemaker tasks.
It’s important to consult with the insurance provider of the person who needs care to learn which types of care the insurance policy covers and for how long those services are covered.
Does life insurance cover independent living?
Some life insurance policies can help pay for long-term care. The main options that can help cover care include combination products, accelerated death benefits, life settlements, and viatical settlements. Each type of insurance product works differently, depending on the policy and the policyholder’s situation.
• Combination products: Some insurance providers offer plans that combine life insurance with long-term care insurance.
• Accelerated death benefits (ADBs): Some life insurance policies have accelerated death benefits, which may be used to help pay for care. This feature of a policy allows the policyholder to take an advance on the death benefit of the policy. The dollar amount that the policyholder uses while they are still living is deducted from the benefit paid out to beneficiaries after death. A person may be able to use the ADB feature depending on the rules of their policy.
• Whole life insurance policy: If a person has a whole life insurance policy, they may be able to use the cash value of this policy to pay.
• Life settlements: Life settlement plans allow the policyholder to sell the policy for its value at the time, and the policyholder can use the funds as they need to. There are age restrictions for using a life settlement (typically 74 years or older for women, 70 years or older for men), and the money may also be taxed. It’s important to note that when a policyholder sells the policy to the settlement company, the company assumes responsibility for paying monthly premiums. It also receives the death benefit upon the policyholder’s death — not the previously named beneficiary.
• Viatical settlements: Viatical settlement plans are similar to life settlement plans because they allow the policyholder to sell the policy for its value. These plans are different from life settlement plans because different rules apply to them. For example, these plans require that the policyholder has a terminal illness and less than a two-year life expectancy, typically. If the policyholder is approved, the settlement is based on a percentage of the death benefit and the life expectancy.
Each policy has different requirements and rules. It’s important to talk with the policy’s provider to determine the types of costs that the policy covers.
Sale of your home or assets
Individuals who are moving from their homes into independent living communities are leaving one of their largest assets: their homes. While some will want to keep their home in the family, others may want to sell it. Older adults who sell their homes when moving into independent living communities may be able to use the proceeds of the sale to fund their independent living community expenses.
Veterans benefits
Older adult U.S. military Veterans who meet certain criteria can utilize various benefits to help with senior care costs. Below are a few benefits that can help with senior living expenses:
• Aid and Attendance benefit: Eligible individuals who apply and are approved receive the Aid and Attendance benefit, which provides monthly payments that can help pay for care. This benefit can help cover a variety of long-term senior care options, including in-home care, memory care, adult day care, nursing home care, and assisted living.
• Homebound Allowance: Eligible individuals who apply with proof that they have a medical need for assistance or supervision due to a disability and are approved can receive money to help pay for the cost of care.
Bridge loans
A bridge loan is a short-term loan that individuals can use to help pay for immediate expenses while they wait for other funding to become available. Typically, these loans are used in commercial industries, like real estate.
ElderLife Financial Services offers its ElderLife Bridge Loan, which is specifically designed for people who need to secure immediate funding for senior care. For example, a person who needs to move to an independent living community may obtain an ElderLife Bridge Loan to pay for residency while they wait for their home to sell. When the home sells, the person pays off the loan and can use the proceeds from the home sale for their care. This loan helps people access funds immediately so their current financial situation doesn’t prevent them from getting the help they need.
Other financial products
There are other financial options for paying for independent living. Many factors help determine which type of loan is most appropriate: whether the person plans to stay in their home, the type of care the person needs, the person’s financial situation, and the cost of care.
Homeowners can obtain home equity loans, home equity lines of credit (HELOCs), and other personal loans to help pay for independent living.
Is independent living tax deductible?
The IRS allows some deductions for unreimbursed long-term care expenses. There are rules, limits, and criteria that must be met.
If applicable, some costs that may be tax deductible include:
Some of the criteria for determining if long-term care is tax deductible include:
• A licensed health care provider determines the person receiving care is chronically ill.
• Total expenses exceed 7.5% of the person’s adjusted gross income.
It is helpful to know that an adult child may be able to deduct expenses they pay for if they claim the parent as a dependent. Consult with an accountant to determine which expenses are tax deductible.
For active older adults who want to embrace senior living, independent living may be a suitable option.
Older adults may want to continue living independently but no longer want the obligations that come with living in their own home. Perhaps a person has lived in their home for decades and wants to downsize to a smaller space. They may want a communal atmosphere with others in their age group. They may find it desirable to have access to fitness facilities, other amenities of convenience, and social or recreational programming — all without having to manage or organize it. In any of these cases, moving to an independent living community may be a viable option.
What is independent living?
Independent living communities are age-restricted residences for older adults that cater to their interests and needs.
Independent living communities may be referred to by different names. Some other common names include
55+ communities.
62+ communities.
Active adult community.
Senior community.
Retirement villages.
Retirement communities.
Congregate care.
Independent living senior apartments.
Continuing care retirement communities.
A home in an independent living community can be a studio, one-bedroom, or multi-bedroom apartment. These homes are often in a larger building or in a development with many buildings.
The main purpose of independent living communities is to offer age-appropriate amenities and services to older adults who can remain living independently.
What do independent living communities provide?
Independent living communities provide residents with the independence to live in their own homes within a community of their peers. The communities maintain the buildings and grounds so residents can enjoy a maintenance-free lifestyle.
The specific amenities vary among communities; however, some independent living communities have recreational facilities, like fitness centers or pools. They may also have dining rooms or restaurants on the property so residents can have meals without the obligation to prepare them. The communities may also plan social events for the residents to enjoy.
There are multiple types of independent living communities that offer varying services and amenities.
Continuing care retirement community
Continuing care retirement communities (CCRC) are known for offering different levels of care. Older adults can age in place when living in this style of facility. CCRCs may offer independent senior living, assisted living, nursing home care, and skilled nursing care. The variety in the level of care these communities offer helps adults live in the same community while accessing the care they need as their needs change.
Independent senior living apartments
Independent senior living apartments offer a range of services and safety measures to older adults who want to live among peers but maintain independence. Some communities may have dining options, while others that are higher-end in cost may have salons, fitness centers, and other on-site amenities.
Independent senior living communities may not have in-house personal care services, unlike assisted living facilities. Residents who require personal care or medical services may need to arrange for the care themselves.
Retirement communities
Retirement communities offer age-restricted housing, often eligible to adults age 55, 62, or 65 and over, depending on the age requirement of the particular community. They are most appropriate for older adults who can live independently but want to live among peers. These communities may offer fewer amenities than other senior living facilities, such as only basic services like outdoor maintenance.
Low-income senior housing
Low-income senior housing may be more affordable for older adults on fixed or limited incomes. Residents must meet income qualifications to be eligible to live in these communities. The amenities in these communities also vary among facilities but are more basic in nature.
Paying for independent living
When it is time to move to an independent living community, there are many ways to pay for independent senior living. Personal funds, insurance policies, loans, and even extra benefits can help pay for home care services to help older adults continue living at home while getting the help they need.
The cost of senior care in Alabama is lower than the national average. Understanding the main differences between living and care arrangements is important when deciding the best setting for an older adult transitioning to senior care. The cost of home care assisted living, and nursing homes can be significant, depending on your location and necessary care level. Here, we describe these differences and introduce some options to help you pay for senior care in Alabama.
Cost of assisted living in Alabama
Multiple factors influence the cost of assisted living in Alabama. Many of these factors depend on the type and level of care you need. Long-term care financial company Genworth reported in 2024 that the average cost of assisted living in Alabama is $4,143 per month. This cost has increased by 18.27% since the last report in 2021.
The level of care a person requires will impact the cost of assisted living, but where you live also matters. The monthly cost varies by as much as $2,830 a month, depending on where you live in the state. The cost of assisted living ranges from a low of $2,785 in the Gadsden area to a high of $5,615 per month in the Birmingham area of Alabama.
The difference between nursing homes and assisted living facilities is in their accommodations and the level of care they provide. In nursing homes, the living environment is more clinical, where residents live in a private or semi-private room without a living room or kitchen area. In assisted living facilities, residents live in apartments with a private bathroom and kitchenette.
The cost of nursing homes in Alabama is nearly 90% greater than that of assisted living facilities. The average cost for a semi-private room is $7,604 per month, and a private room is $8,060 per month. These costs vary across the state. Daphne has the lowest average cost for a semi-private room in the state at $6,707, and Daphne has the lowest average cost for a private room at $8,745 per month. The area with the highest average cost for a semi-private room in the state is Mobile, where the average price is $8,745, and Birmingham and Huntsville have the highest price for a private room at $9,125 per month.
If you can stay at home but need a little help, home care is an excellent alternative to moving into a facility, which allows you to stay at home and brings care to you. There are two types of home care that can help meet your needs. One option is homemaker services, where a non-medical caregiver goes to your home to help with basic living activities, like grocery shopping, meal preparation, housekeeping, and cleaning. The other option is to hire a home health aide. A home health aide assists with bathing and toileting and can provide health monitoring, like taking pulse and blood pressure readings. Home health aides can also monitor the person’s mental health condition they are helping.
The cost difference between the two care types is not very big, only about 3.4%, but the type of care you need will determine what type of training the aide needs. The average hourly cost of a home health aide is $21.96 per hour, and the homemaker service averages $22.96 an hour. Gadsden has the lowest average cost in the state, with costs averaging about 56% below the average at $9.98 per hour. The highest average cost is in Birmingham, where the cost is 20% higher than the state average at just under $26.95 an hour.
Memory care is the fastest-growing care segment in the U.S. as measured by the number of individuals needing the care and the number of memory care providers. Memory care specializes in the care of residents or patients with Alzheimer’s disease or other forms of dementia. Memory care is provided at a standalone memory care facility or at an additional cost in an assisted living facility or nursing home.
Memory care is typically an additional cost above assisted living or a nursing home. The incremental cost is due to these residents receiving 24-hour long-term care. This additional cost averages $875 per month in Alabama.
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