Over the 4th of July while watching kids splash around in the pool, a casual acquaintance came up to me and said, “Beth, what does it cost to live in one of your places?” I asked if something had happened to his Mother. We had a pretty long conversation about her changing health and his increasing concerns about her living alone.
Although he knows a lot of things, like many other people he really didn’t know how much it costs to live in a retirement community and receive assisted living services. I explained that in order to provide an accurate price, certain determinations must be made, including his mother’s health status, services required, additional services desired, and the size and features of the apartment selected. With that said, I opened a magazine this afternoon to find some national numbers.
The July/August 2011 issue of Senior Living Executive reported on a study released by John Hancock Financial. The Long-Term Care Cost of Care Survey gathered data from more than 11,000 providers and the findings are interesting.
- The 2011 average cost for a private room in an assisted living community is $3,270 a month or $39,240 annually. This average does not include the special services found in facilities that provide care to people with dementia.
- Over the past 9 years, long-term care costs have continued to increase. Specifically, assisted living costs have increased at a rate of 3.4% per year.
Frankly, I’ve never met an average person. Therefore, anyone who is interested in learning more about assisted living should sit down with someone at the senior community. They will gladly discuss needs, desires, and the specific costs. Or, if you run into me at the pool, I’d be happy to talk!
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