What is the Cost of Memory Care?
Memory care typically costs between $5,000 and $7,000 per month, although some services may cost upwards of $10,000 depending on location and what’s included.
Memory care requires the assistance of highly trained professionals. Due to the specialized nature of memory care communities and the nature of dementia, signature care programs within adult communities have risen in popularity. According to AARP, memory care costs an average of $5,000 to $7,000 per month. That is more expensive than the average cost of assisted living care, but may be less than nursing home care.
The cost of memory care will vary based on key features within the community, such as team members trained in dementia care and activities designed to work with varying degrees of cognitive abilities. Costs also vary by location.
What’s Included in Most Memory Care Cost Estimates?
Before a resident moves into a memory care community, staff works with family members to discuss costs associated with residency. In many cases, the memory care cost will vary from resident to resident. An assessment may be used as a tool to determine an estimated memory care cost. Following the assessment, you’ll often have an all-inclusive monthly fee that includes several different elements.
Accommodations and Utilities
The resident’s living quarters are covered along with any utilities such as electric, gas and water. The community may also include wireless internet with the pricing plan. Any type of maintenance is included in a memory care community as well as services such as housekeeping and wash and fold services.
Resident safety is the most important inclusion in memory care costs. Family members are frequently concerned that their relative is not safe living alone after a dementia diagnosis. That’s often true, especially in the latter stages of the disease. In a memory care community, residents are monitored around the clock by skilled professionals, ensuring they have the support and security they need to thrive. An emergency alert system is usually in place to guarantee quick assistance 24/7 when needed.
Personal Care and Help with Daily Activities
Personal care services are also included with memory care. Compassionate and highly trained staff assist residents with all their daily needs. This could include dressing, bathing, shaving and more. Daily living assistance is scalable to the resident’s needs with costs subject to change.
Dining is included at memory care communities, including dementia care and Alzheimer’s care communities. Each community offers well-balanced meals that appeal to different palates. The meals are also customized to any dietary restrictions that the resident may have such as low sugar or reduced salt.
Memory Care Programs
Communities like the Atrium at Boca Raton also offer signature programs for dementia care patients. Valeo memory care at our premier Florida community provides activities that focus on improving the resident’s physical, social, intellectual and spiritual well-being. Activities scheduled can include wellness workshops, physical fitness sessions, family gatherings and more.
What to Know About Memory Care Costs in Florida Versus National Cost Averages
The good news is that residents in Florida will typically pay less for memory care than those who live in other states. According to the Florida Health Care Association, the median cost in Florida for a private room in a community with assisted living services is approximately $48,000 per year. This amount is much less than most states due to Florida’s lower cost of living.
The most expensive states for memory care are Connecticut, Massachusetts, New York, New Jersey and Hawaii. Residents of memory care communities will pay approximately $2,000 to $3,000 more a month if located in these states.
Florida has high rankings for superior memory and nursing care communities when compared to other states in the nation. Florida has the highest ranked nursing staff out of all the most populated states in the U.S. Communities located within Florida have also the highest rate of direct care hours provided to residents.
How to Pay for Memory Care
There are multiple options you can look into when researching how to pay for memory care. Federal assistance should be your first option to consider before choosing a memory care community. Federal assistance programs may provide funding that you don’t need to pay back. Tax deductions, disability payments and veteran’s benefits are just a few examples of ways that can help assuage memory care costs.
Personal assets are another option for paying for memory care. Traditional and alternative sources of income can be put toward the monthly community fee. Most types of investments can be used to pay for a friend or relative’s care. This could include stocks, bonds, savings accounts and IRAs. Any type of equity in real estate investments is also a means to pay for memory care.
Insurance providers could also be contacted to discuss payment eligibility for long-term care communities. Each insurance plan is different, and the company may provide full or partial benefits.
Finding and Paying for Memory Care in Boca Raton, Florida
According to the Alzheimer’s Association, caring for individuals diagnosed with Alzheimer’s disease over the next 40 years will cost Americans $40 trillion. The organization has called for more funding to go into research for treatments for Alzheimer’s as well as initiatives for improved access to care. Staff at the memory care community should be comfortable working with dementia patients and know how to focus on whole person wellness.
When choosing the Atrium at Boca Raton, you can rest assured you’re selecting the right place for memory care services. Our Valeo memory care program is designed to focus on each resident’s strengths and personalize a care plan to help them thrive within the community.
We’ve also designed our services to be affordable. Our Florida memory care pricing includes everything your family member needs to stay safe, healthy and fulfilled. Along with housing and cleaning services, the Atrium at Boca Raton includes memory care activities, family learning workshops, 24-hour security and health monitoring, concierge services and transportation.
Contact us today to learn more about our signature program options for those in need of memory care.