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After finding out a loved one has been diagnosed with dementia, not only do you need to confront fears about Alzheimer’s disease, but you also need to think about the mounting expenses associated. Because there’s currently no cure for dementia, there is a lot of uncertainty about what exactly can be done and for how much. This is where memory care facilities can help!
Find memory care facilities near you!
Memory care communities are a true haven for those in any stage of the dementia disease process. The communities are designed to feel cozy and homelike while nurturing an environment that takes away the stressors that come with dementia. That way, residents are encouraged to cultivate their cognitive growth and skills. While memory care services can’t stop dementia, it can help slow the progress of the disease by providing assistance, structure, and strategies to the lives of the patients. Learn more about the pricing for this type of senior care below.
The average cost of a memory care facility can vary greatly based on the state, level of care required, and more. Typically, you can expect to pay a monthly fee of around $4,000. According to data over a recent 15-year period from Genworth, the cost for facility and in-home care services has risen on average between 1% – 3% per year.
The forms of dementia don’t start all at once though. From the first signs of memory loss to the later stages, the living costs may increase as the disease progresses. Here are the average annual costs of dementia care ranging from least mild—found in earlier stages— to most severe cognitive decline:
While these numbers could seem shocking for some individuals and their loved ones, it may be a small price to pay when looking at all the great services that are included in the monthly costs. These include:
Keep in mind that each senior living community is different, as is each situation and each need. Double check with your chosen community to review the financial specifics before you sign a contract.
Memory care may be considered more expensive than assisted living because it offers specialized treatment. However, assisted living communities that offer memory care units on campus are the first option to consider when looking for dementia care. This type of residential care works well for a senior who is in the early stages of the disease and exhibiting some mild cognitive impairment issues, or it works well for couples in which one spouse has dementia while the other does not. The socialization and quick access to assistance and medical intervention (24/7 nursing staff, medication assistance, etc.) is excellent for the resident and can put you at ease knowing that your loved one is safe.
However, there are some drawbacks to assisted living for those who are in later stages of the disease. For example, assisted living facilities were not built with security in mind for patients who tend to wander. Another drawback is that the staff members are typically not trained in dementia-specific techniques and interactions to help residents who are confused and aggressive, or who need a significant amount of prompting for daily tasks. Because memory care-only facilities exclusively offer these specialized staff and services—not simply as an add-on like in assisted living— you can expect to pay a little more because of this skilled labor.
While memory care may be more expensive than assisted living, it’s important to understand the full scope of service you get for the cost of taking care of someone who is dear to you. You have a few options to help offset these costs.
Need more help? Caring Advisor representatives are here to help you find long-term care you can trust and afford. To learn more, find a memory care facility and ask questions!