According to the World Health Organization, approximately 55 million people are living with some form of dementia worldwide. Every year, there are nearly 10 million new diagnoses.
Unfortunately, sheer numbers do not tell the personal story of how dementia impacts families and individuals. It can yield a great deal of stress and frustration around issues of safety and support. The good news is that memory care can be extremely impactful in this regard, although elder care affordability is another ongoing concern.
Different factors can influence the cost of memory care. This article explores what they are. Keep reading to get a clearer picture of what contributes to costs as well as some information about the best ways to pay for memory care.
Memory care refers to a type of long-term residential care for people with Alzheimer's disease or other forms of dementia. It involves 24-hour supervision and safety features, such as locking doors with alarms, as well as secured outdoor areas.
Memory care often involves therapies and programming to stimulate mental function for residents. It relies on specialized staff who are trained to work with individuals with cognitive impairments. They will employ techniques to minimize confusion, agitation, and anxiety, which are common in such patients.
This can involve things like cognitive and physical activities to keep residents engaged and stimulate mental function. Examples include memory exercises, arts and crafts, games, and physical activities.
For these same reasons, memory care communities also offer structured environments. This usually includes secured areas that prevent residents from wandering off as well floor layouts that are simple and easy to navigate, reducing the chances for disorientation.
There are many different reasons that someone would seek out memory care services. These include:
Memory care communities are designed to keep residents safe, including preventing them from wandering off (getting lost or into dangerous situations) while also offering them support. It also provides personalized medical services, including regular assessments and medication management.
Memory care services will provide activities and therapies that can combat the effects of dementia, stimulate cognitive function, and-in some instances, even slow its progression. Finally, memory care centers can provide opportunities for socialization that otherwise may not be achievable for people with cognitive disabilities.
Memory care costs can vary widely. In general, you can expect services to run between $3,000 and $10,000 per month, depending on the factors discussed below. For this reason, family members need to do thorough financial planning for seniors by exploring different communities and types of services offered to determine the best fit for their budget and their loved one's particular healthcare needs.
Many different variables can impact the cost of memory care. Here are the main ones to consider.
Geographic areas can have a lot to do with the cost of assisted living communities in general and memory care in particular. For instance, more urban areas are likely to cost more than rural areas.
Government regulations, which vary by location, can also influence the operating costs of assisted living communities as well. States with more rigid regulations could result in slightly higher prices for memory care.
As mentioned, memory care communities deliver 24-hour supervision and assistance. However, the level of attention and medical needs among individual residents can vary. For instance, more severe levels of dementia may require elevated levels of assistance versus mild cognitive conditions that merely need basic safety nets, like secured doors.
Other medical needs can also impact the price of memory care. For instance, if a resident needs frequent attention from physicians or therapists, that could drive up the cost of services.
Memory care is carried out in many different ways, some of which can impact the total price tag. For instance, some retirement communities have designated memory care units, along with other arrangements (like assisted living), while others have stand-alone memory care communities specifically designed for people with dementia.
The advantage of the former is that people can move into memory care as needed and (in some cases, like with temporary disability), move back into assisted living. This convenience, while ideal for some individuals, usually comes with a steeper price tag. The latter-dedicated memory care communities can keep costs down by focusing on a specific type of care.
At the same time, stand-alone memory care communities can have a greater focus on specialized design elements, programming, and staff. These enhanced features may come at a premium.
The type of arrangements that communities provide can impact the cost of care as well. A private room will generally be more expensive than shared rooms due to additional space and services provided. Some communities may offer specialized therapies, recreational programs, dining options, and other amenities that can increase dementia care costs.
Like all medical services, the availability of insurance can be a major factor in determining out-of-pocket costs. Most standard personal insurance plans do not cover long-term care, although you can find specific policies that do.
Public assistance programs, such as Medicare, can come into play as well. While Medicare generally does not cover long-term care, it may cover things like part-time skilled nursing care, physical therapy, and occupational therapy. For this reason, it is important to check the specifics of your policy.
Now that you understand the factors that impact the cost of memory care, you can plan accordingly. Reputable retirement and assisted living communities can further advise you on options for memory care and associated costs. They also can make recommendations on health insurance coverage and other ways of paying for memory care.
La Marea Senior Living provides the highest level of memory care and assisted living services in Carlsbad, California. We offer residents a unique lifestyle that balances freedom and autonomy with personalized, supportive care. Reach out to us today to learn more about senior living pricing.