How to Pay for Senior Living

When beginning to discuss making the move to senior living, almost all conversations involve the legal and financial issues families face. So, how much does senior living cost?

The short answer is that costs can vary. The pricing is dependent on the amount of care an individual needs. For example, an Independent Living apartment rate typically includes rent, housekeeping, utilities and one meal per day, while Assisted Living suite rates include all of the amenities as well as three meals and snacks, plus medication management. Families should take into account the level of support each individual needs. These are called level of care charges. The total cost for Assisted Living or Memory Care would include the base rent in addition to the level of care. This level is established by an assessment with our Resident Care Director.

Ultimately, the formula of how it is paid is different for every family. But just like college planning, it’s worth the time and effort to choose the right fit and craft a plan that makes sense for you.

While our transparent pricing on each of our community pages is an excellent starting point, it’s still important to schedule a time for our team to complete an assessment of the individual’s needs in order to get the full scope of services and fees.

To help fully understand your family’s current financial picture, download our Cost Comparison Tool now.

Engage Your Professional Team

Creating a plan to pay for senior living is a task best done in advance and can be a gift to your loved ones. Most families find that the most helpful part in this process is engaging experienced professionals to take look at their financial picture and guide them through each step on the way. Your professional team will be able to walk you through everything from selling your assets to a long term care insurance plan, but ultimately the common goal is planning for a future at a community that is the best fit for you.

         

Providing our residents and their families high quality care with dignity, respect, and compassion is our top priority at Commonwealth Senior Living, and it’s hard to put a price on that. Our team of Sales & Marketing Directors are here to help you though the process with customized plans for you and your loved ones.

Visit our communities page to schedule a visit with the community nearest you today!