By Rick Banas of BMA assisted living management
Here are some tips designed to help you understand both the costs and potential value of assisted living:
The cost depends on a variety of factors, including the following:
The Apartment
What types of rooms and apartments are available? Floor plans can vary from semi-private and private rooms to companion suites and studio, one-bedroom and two-bedroom apartments. What are the square footages of the floor plans?
Services
What services are included in the Monthly Fee?
Some communities charge an all-inclusive or a virtually all-inclusive Monthly Fee based on the size of the room or apartment. For example, at all of our affordable assisted living communities the Monthly Fee is based on the size of apartment. It includes all three meals each day, snacks, housekeeping, laundry and all of the personal assistance and help with medications a resident needs. If a resident’s needs change and more assistance is needed, the Monthly Fee does not change. The only additional costs are for telephone, cable and Internet access, if so desired by the resident, and for guest meals, beauty/barber services, and purchases in the convenience store.
Some communities charge a base Monthly Fee that includes a base package of services. Leveling Charges, Levels of Care or a Point System apply for residents who need services above and beyond what is in the base package. At some communities, there also are separate charges for medication reminders, supervision and administration and for incontinence care.
What types of transportation services are available? What is included and what is available for an additional charge? For instance, some communities include scheduled transportation to doctors’ offices one morning or one day a week and scheduled transportation for shopping once a week. Some communities do not charge for transportation within a certain distance of the community.
Entrance & Community Fees
Some communities charge a one-time Entrance or Community Fee at the time of move-in. Some of the more common amounts range from $500 to $5,000.
Comparing Costs
When looking at the cost of Assisted Living, I encourage you to do two cost comparisons. The first is a comparison of the cost of assisted living versus the cost of where you or your loved one is living now. You can use the Cost Comparison Worksheet below to help guide you through this process. When it comes to home repairs and maintenance, I suggest you look back over the past few years and add up all the costs and divide by the number years you are examining.
Often times, individuals are surprised at the results. After adding up all of the costs that they are paying on a piecemeal basis where they are living now, they discover that they spending more than they think. They also discover that assisted living can be as or less expensive than where they are living now. Of course, this is assuming that they are getting all of the help and assistance that they need instead of doing without.
The second is a comparison of the charges at each assisted living community that you are considering. You’ll find a chart below to help you with this comparison.
The Intangibles
In addition to the hard costs of living in assisted living, there are many intangible factors to take into consideration, including the following:
If you need some help and are not getting the help you need – for instance, you are not taking your medications when and as you should – you are likely increasing your risk of needing an emergency room, hospital or nursing home. How much more will this cost, and how will it impact your quality of life?
If a spouse or other family member is serving as caregiver, what impact is this likely to have on their health? So often, it is the caregiver who ends up with health problems because of the role they are playing.
If Affordability is an Issue
In Illinois, if you do not have the financial resources to afford private pay assisted living, a wonderful option is available. There are more than 140 affordable assisted living communities that operate through a special program called Supportive Living. These communities serve adults 65 and older of all incomes, including individuals on Medicaid or who only receive Social Security benefits. Several of the communities serve adults 22 to 64 years of age who have physical disabilities.
Of the 37 communities that BMA manages, 36 operate through the Supportive Living program. For more information, go to bma-mgmt.com/communities
| Where You Are Living Now |
In Assisted Living |
|
|---|---|---|
| Rent/Mortgage Payment | ||
| Association Fee | ||
| Property Taxes | ||
| Homeowners Insurance | ||
| Home Repairs and Maintenance |
||
| Utilities | ||
| Garbage Collection | ||
| Lawn Care/Landscaping | ||
| Food | ||
| Housekeeping | ||
| Emergency Response System |
||
| Home Health Care | ||
| Telephone Service | ||
| Cable | ||
| Internet Access | ||
| Car Payments, Insurance, License, Gasoline, Maintenance & Repairs |
||
| Other Transportation (Bus, Train, Cab Fares) |
||
| Exercise Classes | ||
| Social & Recreational Activities | ||
| Total | ||
| Name of Community | |
|---|---|
| Entrance/Community Fee | |
| Monthly Fee | |
| Leveling/Point Charges | |
| Medication Charges | |
| Incontinence Charges | |
| Telephone | |
| Cable | |
| Internet | |
| Other Charges | |
| Total | |
| Other Considerations such as Location, Staffing, Appearance |
|
All affordable assisted living communities managed by BMA Management, Ltd. are certified and surveyed by the Illinois Department of Healthcare and Family Services. All assisted living communities are licensed and surveyed by the Illinois Department of Public Health.
“BMA Management, Ltd. is the leading provider of assisted living in Illinois
and one of the 20 largest providers of assisted living in the United States.”
What are your thoughts? Leave a comment and let us know.
