How Much Does Assisted Living Cost?
When it comes to committing to a long-term assisted living arrangement for a loved one or yourself, there are several elements playing a role in the final cost. Determining factors in assisted living facilities cost include the size of the space, available services, required services, and city/state location. For example, in 2018 Genworth Financial calculated the average cost of assisted living in the United States to be $4,000 per month. This certainly does not mean you’ll pay that price for the assisted living facility of your dreams. But rather it gives you a better idea of price range when searching. An average cost of $4,000 per month can result in certain facilities only charging $2,000 monthly, while others can fetch as much as $7,000 a month.
- Review of Assisted Living Costs
- State Breakdown of Assisted Living Cost
- How to Pay for Assisted Living
- Financial Assistance Programs in Los Angeles
Review of Assisted Living Costs
Clearly assisted living sounds like a great option if you’re in the midst of old age but still interested in a social, community-based life. But the real question that keeps coming up is, “How much is this going to cost?” As mentioned above, this clear-cut question doesn’t come with a definitive answer. However, there are a number of factors that contribute to the cost of your personalized assisted living experience.
- Where Do You Live? – The cost of an assisted living facility isn’t going to be the same in Los Angeles as it is in Joplin, Missouri. Cost of living by state generally tends to have a similar effect among assisted living communities.
- What Kind of Living Situation Are You Interested In? – Similar to any house or apartment, the cost is going to differ between a studio apartment, a one-bedroom, two-bedroom, or shared apartment. Location within the facility can affect the cost as well.
- How Much Assistance Do You Require Throughout The Day? – Do you need help getting out of bed, showering, getting dressed, or eating meals? How about remembering to take or receiving your medication? Has memory care been discussed? The more assistance you require in a day, the more the cost will rise.
- General Services – Three meals a day, medication monitoring, housekeeping, laundry, social & recreational activities, transportation, personal assistance if/when needed, and 24-hour emergency care. Often bundled into one reasonable fee, these services can add up over time.
State Breakdown of Assisted Living Cost
Below you will find a state-by-state (District of Columbia included) breakdown of average daily, monthly, and yearly assisted living cost courtesy of Genworth Financial’s Cost of Care Survey.
|STATE||DAILY COST||MONTHLY COST||YEARLY COST|
|District of Columbia||$220||$6,700||$80,400|
Based on this data, Alaska, Massachusetts, and Washington D.C. are the three most costly places in America for assisted living services. The three states ranking lowest in yearly cost are Missouri, Oklahoma, and Georgia. Take advantage of this data when researching your assisted living options.
How to Pay for Assisted Living
It’s helpful to keep in mind that assisted living communities are “private pay,” more commonly referred to as “out-of-pocket.” Medicare and Medicaid rarely covers the costs of assisted living, which mentioned prior can range anywhere between $2,000 and $7,000 a month. The price often depends on the cost of living of the city and state in which you live. However, based on that price range, that’s still an average price of around $4,000 a month, which breaks down to $133 per day and $48,000 per year. In addition to the myth that Medicare and Medicaid will cover the cost of assisted living, Social Security payments will likely only be able to cover a small amount of these monthly costs.
Many assisted living communities also require a community move-in fee. Whether you choose to pay this fee up front or prorated on a monthly basis, it can run upwards of $1,000 – $5,000. Oftentimes a portion of this community move-in fee can be tax-deductible as a medical expense, so make sure to bring this up to your accountant or tax professional during tax season. Depending on the facility, you may have the option of selecting a bundled package based on your specific needs. Other communities, on the other hand, simply offer a flat monthly fee for all residents to pay the same amount for shared services.
A majority of assisted living residents either pay out-of-pocket with personal savings, from long-term care health insurance, or with help from their adult children. Another option is by researching if the state you live in offers home and community-based waivers for low-income residents.
Financial Assistance Programs in Los Angeles
As previously mentioned, considering Medicare and Medicaid are not likely to be your best bet for covering your assisted living bills, researching home and community-based waiver programs for low-income residents may end up being a viable option to cover the lion’s share of your senior care expenses. Below we’ve compiled a list of options for the Los Angeles area, detailing how they each can best benefit you and your unique situation..
Medi-Cal for Seniors and Persons with Disabilities
Anyone 65 or older, legally blind, or considered disabled by Social Security is available to be covered under this Medi-Cal program put in place to help cover senior care fully or partially for elderly in need.
Home and Community Based Services (HCBS) Medi-Cal Waiver
This Medi-Cal waiver provides elderly individuals with in-home and community-based services rather than seeking care via a nursing home or hospital. These services include case management, transition services, private nursing, family training, utility reimbursement, health care services, and respite care.
Assisted Living Waiver Program (ALWP)
This waiver applies strictly to eligible seniors residing in assisted living facilities. The ALWP covers services received while housed at an assisted living site.
In-Home Supportive Services (IHSS)
This in-home program allows participants to select their own homecare provider(s) including a spouse, family member, or anyone from the IHSS program’s HomeCare Registry. An alternative to out-of-home care like assisted living facilities or nursing homes, IHSS grants low-income elderly individuals the opportunity to receive care without having ever needing to leave their home.
Program for All Inclusive Care for the Elderly (PACE)
The PACE program provides qualifying participants with payment for any long-term care services while living at home or a senior care facility. Applicants must be 55 years old and require help with activities of daily living (ADL) in order to qualify for PACE. If you qualify for Medi-Cal with no share of cost, then all services should be covered other than room and board. However if you qualify with a share of cost, then you’ll be required to pay portions of your services.
Multi-Purpose Senior Services Program (MPSS)
The MPSS program is another Medi-Cal program providing free in-home care and case management services for low-income elderly individuals with no share of cost. Qualifications include being 65 years old and requiring help with at least one daily activity.
Supportive Services Program
The Supportive Services Program is meant for Los Angeles residents who are still too young to qualify for the MPSS program mentioned above. In order to qualify for the Supportive Services Program, individuals must not be receiving care services from any other government-funded program, in addition to needing assistance with at least one daily activity.
Senior Care Action Network (SCAN)
SCAN provides all services within the Medi-Cal State Plan such as home and community services, as well as nursing facility services. Requirements for SCAN include living in Los Angeles, San Bernardino, or Riverside county and being eligible for both Medicare and Medi-Cal.
Glen Park Healthy Living
Glen Park Healthy Living has been caring for individuals for almost 30 years and continues to thrive as an advocate within our various communities. Our unique approach offers our residents a multi-sensory environment that promotes physical and mental stimulation. Our home-like community was designed to create a feeling of comfort and safety, where each resident can relax, explore, and enjoy the environment. All five Glen Park assisted living facilities are pet-friendly and include emergency call response systems. Families leave Glen Park with a clear conscience knowing that their loved one is provided with constant supervision, devotion, and tailored personal care.
Assisted living expenses at any one of Glen Park Healthy Living’s five Los Angeles-area locations can range anywhere between $2,800 – $6,400 a month. That’s a midpoint of $4,600 per month which is barely above the national average. If you’re actively searching for an assisted living facility with all the desirable amenities and a reasonable price tag to match, contact Glen Park Healthy Living today. Between our Long Beach, Monrovia, Valley Village, and two Glendale locations — you will surely be able to find the right fit in your desired part of town. Call today to arrange a tour!