Aging is imminent, and it’s important to understand the costs associated with care at the stage in which an individual can no longer be physically independent. This video breaks down how much assisted living costs.
The presenter first acknowledges that costs can differ greatly depending on the city and state of the assisted living facility. That’s why it’s important to not only understand average base rates but to research specific homes and see how their pricing compares.
For an individual, the base rate at an assisted-living facility can be anywhere from $1,500 to $4,500. Included in the base rate are items such as meals, transportation, utilities, maintenance, and housekeeping.
However, residents will have individual needs that may come at additional costs. When signing a contract for yourself or your loved one, the presenter urges taking a close look at which services are included in the base rate, and how much additional needed services will cost.
While long-term care is difficult to think through, the truth is that two-thirds of Americans will need to have long-term care. Seniorcare.com provides information and resources that will help guide you in getting the best long-term care for your situation.