| If your health or housing needs have changed, | | | | fee. Each property has a different refund policy. |
| you may be considering moving to a senior | | | | Monthly fees average around $2600 a month and |
| residence. But how do you know which housing | | | | to move into a community, individuals might also |
| option is best? This is an easy guide to some of | | | | have to pay an entry fee ranging from $60,000 |
| the common types of senior living options. Costs | | | | to $120,000 or more. |
| vary according to location, size of the apartment, | | | | Memory Care - Those with memory impairment |
| whether it is private or shared and the level of | | | | require special care. Dementia can cause someone |
| care needed. | | | | to wander, so properties that provide this type of |
| Independent living - An apartment building with | | | | care are secure. Staff has been trained to deal |
| studios and one and two-bedroom apartments. | | | | specifically with the disease and involve residents |
| Some meals, weekly housekeeping and utilities | | | | in enjoyable daily activities. Costs can range from |
| usually are included in the rent. In addition, most | | | | $4,000- $7,000 a month and generally include |
| independent living communities offer a full array of | | | | medication administration. |
| daily events and activities in and out of the building | | | | Nursing Home - For those with chronic and/or long |
| for no additional charge. Private-duty caregivers | | | | term care illnesses and who require 24-hour skilled |
| can be hired to come and go as needed. Monthly | | | | care. The state mandates the availability of |
| rental fees can range from $900-$5,000. | | | | regular medical supervision and rehabilitation |
| Assisted living - For those who need help with one | | | | therapy. Some short-term stays after a hospital |
| or more daily living activities such as bathing, | | | | discharge are covered under Medicare. Private-pay |
| dressing, grooming, eating, taking medication and | | | | rate for this care is about $6,000 to $8,000 a |
| walking. Some assisted living communities will help | | | | month. |
| with incontinence. Activities, housekeeping and | | | | Who pays for this? - Most private pay assisted |
| three meals a day are standard. Apartments | | | | living and nursing homes are paid for with personal |
| include a private bathroom and a kitchenette area. | | | | funds or long term care insurance. Medicare DOES |
| Costs can range from $2,500-$5,000. | | | | NOT pay for long term care. In some cases, |
| Continuum of Care Retirement Communities - | | | | Medicaid will. However you have to qualify to |
| Maintenance-free townhouses or condos for | | | | receive the benefits. In order to do so, you |
| active seniors. As care needs increase, residents | | | | usually have to deplete all your assets. Not all |
| hire private-duty caregivers, and the campus | | | | facilities will accept Medicaid as a form of |
| usually provides assisted living, memory care and | | | | payment so its important to know what you can |
| skilled nursing. Sometimes an endowment fee is | | | | afford before you start touring. |
| required upfront in addition to a monthly rental | | | | |