Fully understanding what the associated costs are with being a resident of an assisted living facility is crucial so that you can budget accordingly for your situation. Knowing what costs you are likely to incur, as well as how you are likely to pay for those costs, can have a bearing on what care home you finally choose to attend or send a loved one to live in.

Here, we identify the living costs for several different types of care and the variables within assisted living. For example, where you live can make a huge difference to the costs that you are likely to incur. For that reason, we look at what the North Carolina average for assisted living is versus the nationwide average in addition to what difference Medicaid can make or any insurance policies you may have.

Living costs of different types of care

Assisted living

Assisted living facility is an option for those that do not need dedicated medical or nursing care. As a result, it is often cheaper than a nursing home, while still having carers on hand should they be required. On average, across the country, assisted living starts $6500 a month. Monthly assisted living fees in Raleigh are way over $7000 for a private, one bedroom apartment.

In home care

In-home care means that a person can remain in their own home. Home care can help with personal care for an individual in addition to general home chores or even transportation. In general, in-home care is not a substitute for a medical nurse. It is usually charged by the hour, which is, on average, around $25 per hour.

Nursing home

Nursing homes are one of the more expensive ways to access care. That’s because they have 24/7 medical professionals available which is costly. Often those who reside in nursing homes are there due to the highly intensive medical needs they have. A private room at a nursing home can cost almost $9,500 a month, on average.
Variables of assisted living costs
There are several variables that impact how much assisted living costs will eventually be. They are:

– where the facility is – both in terms of where in the country, but also whether it is in a town or a rural area.
– The amount of medical care on site. The more doctors or nurses there are, the more a facility will cost.
– The number of available caregivers. The lower the ratio to residents, the more a facility will cost.
– What facilities a home has. Some may have extensive sports facilities for example.
– Whether a home has private rooms, shared rooms or even entire apartments for residents.

In addition to these variables, it is good to know how North Carolina in general fares against the rest of the country when it comes to assisted living costs.
Costs of assisted living – key takeaways
Regardless of what type of care you finally decide to access, all these costs add up to a sizable amount. Medicaid may be able to help some low-income individuals access the assisted living care they need, but some people may still worry about how they will afford any of these services.

That’s why it is so crucial to research each care home facility that offers assisted living to ensure what you are getting for your money. At Bright Horizon, we believe that we offer fantastic value for money as we provide such a high standard of care to all our residents as we only ever have a handful of residents at any one time. As a result, we can offer a highly personalized and personable service that larger care homes and nursing homes cannot.

Finding a Nursing Home

Accommodations will need to be considered when looking for a nursing home for yourself or a loved one. It should go without saying that research, and keeping yourself as informed as possible, is incredibly important. Look at the sorts of care services being offered at each facility you consider, and whether they are enough to fully care for your loved one.

Funding is also a consideration when finding a home. There are various ways in which residence in home can be paid for, including Medicare and Medicaid (most nursing homes today are certified by both, insurance, and personal assets. It is best to do some research about which payment method will be the best to use.

If possible, a visit to a potential home should be made so you can see the facilities for yourself. While there, talk to other residents if you can to find out what a typical day is like for them and what they think of the home. This will help you get honest information about the home and make you better prepared to make the decision that is right for you. Finding the right nursing home will ensure that your loved one gets the care and support they need and deserve.