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Accounting for the Cost of Care in Assisted Living Facilities

Long-term care for seniors can become complex, and many families are unsure of exactly where their money is going when they sign a lease agreement at a caregiving facility. According to the U.S. Department of Health and Human Services, over 70 percent of seniors over the age of 65 will require long-term care services at some point, but the average length of stay at these facilities is only 21 months. Those who spend some time researching the facility and the contract will not need to worry about being surprised by new fees and rising costs.

Senior Living Statistics

The New Mexico Aging & Disability Resource Center has recently published volumes of data on senior living options in New Mexico and the rest of the country. As of 2014, 67 percent of seniors in New Mexico live with family members while 2 percent live in group quarters such as an assisted living facility or a hospice. Only 27 percent of seniors live on their own, and most of them live in older homes they have owned for many years. Senior housing residency has increased over the last decade, but very few aging adults stay in the same facility for more than a year or two. 

If your loved one lives independently, consider hiring a professional caregiver to help him or her manage daily tasks. When considering elder care, Albuquerque, NM, families should make sure their senior loved ones have the resources they need to maintain their independence and remain healthy. Trusted in-home care professionals can assist seniors with daily tasks like cooking, bathing, and exercise, and they can also encourage them to focus on healthier lifestyle habits.

Understanding Long-Term Care Agreements

Even though many seniors benefit from living in group care situations, the turnover rate at these facilities is very high. One of the reasons for this is because families often confuse lease agreements with care agreements. Many families look at the lease or rental agreements and assume the care expenses have been factored into the final number. Unless the agreement specifically states that it covers care and will remain static throughout the years, a family can assume the care costs will fluctuate as their loved one’s health and needs change. 

Living Options

Deciding where your loved one should live is a personal choice that will need to be discussed with the family. Many different arrangements can be made, and there is no single service or facility that is right for everyone. Before making a decision, consider your loved one’s health and wellbeing. Just because you are willing to spend more time caring for your loved one doesn’t mean you have the expertise to do so. Family caregivers often find it challenging to manage their loved ones’ health complications and new treatments. This is why so many have turned to in-home caregivers who can help seniors age in place. 

Seniors who have serious health conditions such as Alzheimer’s may require a trained caregiver to take care of their daily needs. If your elderly loved one is living with Alzheimer’s and needs help managing the symptoms, turn to Home Care Assistance, a leading provider of Alzheimer’s care. Albuquerque seniors can rely on our revolutionary Cognitive Therapeutics Method (CTM), an activities-based program that helps slow cognitive decline and delay the onset of Alzheimer’s disease. CTM also encourages seniors to engage with others in an enjoyable way and helps them build new routines to look forward to.

Keeping Living Costs Low

One of the most effective ways to reduce your loved one’s living costs is to keep a close eye on his or her general health. This requires keeping your loved one socially stimulated to boost his or her mental and emotional health. Families should also begin planning living arrangements well before intensive or long-term care is needed. Waiting until the last minute to make a decision could prove expensive for the family.

Some seniors prefer to stay at home instead of moving into an assisted living facility. Aging in place can present a few unique challenges for older adults. Some only require part-time assistance with exercise or meal preparation, while others are living with serious illnesses and benefit more significantly from a live-in home caregiver. Albuquerque, NM, Home Care Assistance are leaders in the elderly in-home care industry for good reason. We tailor our care plans based on each senior’s individual needs, our caregivers continue to receive updated training in senior care as new developments arise, and we also offer comprehensive care for seniors with Alzheimer’s, dementia, and Parkinson’s. Call 505-798-0800 and schedule a complimentary, no-obligation consultation with a friendly and knowledgeable Care Manager.