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Senior Care and Elderly Assisted Living Suggestions
Most aged-care experts suggest that you make decisions about what kind of care you want and which facility you want to provide it long before you actually need help. Most good care communities have waiting lists. This is an advantage, because it means that capacity has not been overbuilt in the region, which can result in the financial instability of facilities competing for a limited pool of residents. The other advantage to planning is that you can save for the kind of care you want or buy insurance to help with the cost.
STATS AND FACTS: The entry fee for a CCRC averages about $60,000 to $125,000, and the monthly fee, $1,000 to $1,800. Nursing-care costs can easily run $100 to $200 per day. Assisted-living care, according to the American Association of Homes and Services for the Aging, costs on average $1,800 to $3,200 or more per month. Rules for refund offers to residents' estates after their death, if any, vary widely between facilities. The proportion returned depends on how long they resided there and what services they used.
Be especially careful if a care community you are considering is under construction. Many states now require a corporation to have sold a certain number of units before construction can begin. If you put down a deposit, make sure it is in an interest-bearing account. You should make it a point to get the accumulated interest when you move in. Search more information >>
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