Assisted Living Cost Estimation

Every year millions of people are placed in assistedrange of factors, such as the amount of care
living residences all across the country. Often timesneeded or the patient's location.
these families are picking up tremendous amounts ofDepending on whether the patient will need
unexpected expenses.intermittent care in his own home or a full-time staff
If you and your loved one are considering making theat an assisted living building, the difference in cost can
move toward assisted living or a nursing homerange from a few hundred dollars per month for
environment, you'll certainly want to know as muchin-home care, to several thousand dollars for an
about the costs that are involved as you can. Theupscale apartment in a room and board facility.
cost of assisted living will obviously make aAs for location, the same cost of living factors that
tremendous impact on family finances - however,affect those without assisted living needs will have an
one of the advantages is that it's often lessimpact on those who do. AARP estimates suggest
expensive than the cost of a nursing home.that depending upon which state the patient will
Comprehensive care nursing facilities can cost up toreside within, the cost can vary by more than 150%.
50% more than their counterparts in assisted living.For example, 2007 estimates point to an annual cost
The reasons are fairly obvious; Often times patientsof assisted living in North Dakota at just over
that are cared for in nursing homes have larger$23,000.00 per year. Washington DC, on the other
medical expenses than those who are being caredhand, would have actually cost just over $60,000.00
for in assisted living residences. Anything fromin the same year!
different insurance factors to medical staffing mustThe cost of assisted living will always be dependent
be on a larger scale. At the end of the day, nursingon a variety of elements. Deciding to put a loved one
homes are really just smaller versions of hospitals,in unfamiliar hands is uncomfortable enough, not to
while assisted living can take any of several differentmention the burden of the financials on top of it. But
approaches, all of which are generally considered towith a small investment in time to research your
be closer to a home environment than the classicoptions, you may find that the financial sting of the
nursing home model.experience can be minimized without compromising
So what exactly is the cost of senior living? Theon the quality of care.
answer, of course, is that it depends on a broad