How Pricing Actually Works
When it comes to the price of independent and assisted living or memory care communities, there is sometimes confusion with the pricing. To help you understand and prepare for the right plan, it is good to be knowledgeable about what your mom or dad may need in terms of extra support, outside of the basic rent.
It can be broken down into 2 categories:
Base Rent (Housing), which covers apartment, meals, housekeeping, activities. These costs can vary depending on type of room, whether or not you have a shared room, and additional amenities.
Care Plan is an added cost that is based on how much help your parent needs. This is where prices change quickly because their health needs may change, but also behavioral changes that require more attention.
Levels of Care
Independent Living is generally very much a hands-off approach. When your mom or dad is in these communities, they are generally about to take care of their basic needs. Meals, housekeeping, and social life is provided and there is generally no help needed with medicines, dressing, or using the bathroom.
Assisted Living Light is considered when your parent needs moderate help. Most of the time, they will need medication reminders or administration, which the caregivers provide. Those same people help with dressing, bathing, and toileting if appropriate. This care also offers some mobility assistance.
Memory Care specializes in care for severe cognitive decline, often times with dementia. With these things in place, full supervision is needed and very hands-on help is needed for things like with
Medications,
toileting and incontinence,
dressing, and
eating safely, or sometimes, at all.
The costs rises exponentially at each phase and the economics of it are relatively simple. There is a higher cost due to a higher skilled staff, time needed to appropriately care for your mom or dad, and the cost to maintain a community that serves them.
Even if they are living in an assisted living community, their needs may be greater than that particular section can provide. The costs of care may not fit into these exact categories and there is a lot of overlap.
The Hidden Reality is that most families budget for “rent.” It’s important to recognize that the real costs is their care. As they need more care and support, so does the monthly bill. What starts as manageable can quietly double in a short amount of time. That’s the point when a lot of families come back to me and realize that the home they needed to keep is a huge financial resource available. While it may take time and may not ever be the answer, it often becomes part of it.
Learn more about Denver Senior Living Communities