What is Included In The Cost Of Senior Living Communities?

It is easy to look at the cost of a senior living community and get caught up in sticker shock. You may even rule out options right away, thinking, “There is no way Mom could afford that.” However, if you take a second look, you may find senior living communities, especially continued care retirement communities (CCRC), like Edgehill, are more affordable than you think.

When looking at the cost of a senior living community, there are three distinct parts to consider:

1. A place to live
2. Medical care
3. Non-care related services and amenities.

When you add up all three factors, the cost of a senior living community is not comparable to the cost of renting a condominium or just paying for a visiting nurse. All three factors, all under one roof, are what you are paying for when you move to a senior living community.

Here is a closer look at what comprises the costs of senior living—in and out of senior living communities—and what those costs include.

Three Kinds of Senior Living Options

When it comes to senior living options, there are three general options:

• Living in your home and receiving care services, such as medication management, assistance with activities of daily living (ADL) or rehabilitation.
• Living in a senior living community that provides care and services such as medical care, meals, transportation and programs. This includes Independent and Assisted Living.
• Living in a health care center where skilled nursing, short- or long-term, is available

Within those three options are a number of sub-options. Here are a few.

Home-Based Care & Services

Adult Day Services, Home Care, Hospice & Palliative Care

These services cover a wide range of programs, from intensive palliative care to adult day services and community programming.

• Adult Day Services: Average: . Social care and healthcare services often overlap, as both typically include meals, social activities and some health support. Adult day health care, however, goes a step further by offering additional medical services, such as medication management and specialized therapies for conditions like dementia.
• In-Home Care: Costs vary depending on the state and the level of care required. On average, you might spend around $1,000 per month for about seven hours a week of help with tasks like meal preparation, light housekeeping and companionship. For full-time support, such as assistance with multiple activities of daily living (ADLs), including toileting, eating, bathing and managing chronic conditions, the cost can rise to approximately $6,300 per month.
• Hospice and Palliative Care: Routine hospice care services in your home can cost about , while round-the-clock care can cost as much as $1,600 per day. Home hospice care typically covers medications, medical equipment, and pain management, along with essential supplies, grief counseling, and spiritual support.

Senior Residential Communities

Assisted Living, Memory Care, and Independent Living

Residential senior living community costs can vary based on:

• The location of the community
• The available amenities and programs.
• The size of the apartment home, as well as its location within the community.
• The level of care and personal services that the resident requires.

Senior residential communities costs typically include:

• A basic residency fee
• Cost of amenities
• Home buy-in
• Health care
• Meals
• Housekeeping
• Transportation

These communities vary in the type of neighborhood, from Independent Living, which requires few care services, to more supportive Assisted Living, or specialized services like Mind & Memory Care.

The average cost of Independent Living in a senior residential community is $3,065, but the price varies significantly. It is essential to learn how to compare assisted living costs across these communities; all senior communities are not alike.

Accommodation

Accommodation costs typically include:

• Housing, such as a studio, 1- to 2-bedroom or shared room apartment
• A meal plan and nutritional support for dietary needs
• Housekeeping and laundry services
• Grounds, landscaping and maintenance services
• Access to amenities: fitness center, religious services, recreational and social activities,  etc.

The type of amenities will range across different senior living communities, so make sure to assess what is behind the price tag and determine what features you do not want to live without.

Care Services

Care services are the other side of the coin at these residential communities. Costs may go up as you or your loved one require more specialized care, but communities typically include robust care offerings. These include:

• A trained, vetted, and caring staff to meet your lifestyle, care and basic daily needs
• Transportation to doctor’s appointments and other activities
• Assistance with daily activities and other care services as needed: medication reminders, help with getting in and out of bed, etc.
• Nursing care (varies by state)
• Security & Emergency Response System

Skilled Nursing Care

In a skilled nursing facility, care centers on the resident’s medical needs — whether managing chronic conditions, providing hospice support, or offering short-term rehabilitation. The cost typically includes accommodations and many of the same services and amenities found in residential senior communities, along with a more comprehensive range of specialized medical services, including:

• Nursing care, medication management and access to therapies

• A meal plan and nutritional support for dietary needs
• Specialized programming, such as fall prevention and brain health fitness training
• A trained, vetted, caring staff to meet your lifestyle, healthcare and basic daily needs
• Security & emergency response system.

The average cost in the U.S. of a skilled nursing community is $9,555 per month for a semiprivate room or $10,965 for a private room.

Continuing Care Retirement Communities (CCRCs)

CCRCs are a special type of senior residential community that offers retirees a full spectrum of care: Independent Living,  Assisted Living, Skilled Nursing and Mind & Memory Care, all on one campus. There are three kinds of CCRCs: Type A, Type B, and Type C.

Edgehill is a Type A community, which means residents have the benefit of a Lifecare contract that covers care for life at a predictable cost. Residents here have the best of all worlds: elegant accommodations, Lifecare, extensive amenities and concierge services. Contact us for more information about Lifecare and to learn more about the cost of Edgehill.