Do you want to know what separates the great senior living facilities from the mediocre ones? You’re in the right place to learn about several facts that will help you make an informed decision about relocating to a retirement community. Read the facts now!
What Makes A Great Senior Living Facility?
Q: I heard that great senior living facilities cost a fortune. Can I afford it?
A: The national average rate for assisted living is $3,628 per month, according to Genworth's 2016 Cost of Care Survey. Does that number scare you? Relax. You may have financial options that you are unaware of. No matter what your socioeconomic status is, make sure you are taking advantage of all means available that can help pay for assisted living.
Below are ways to pay for assisted living, including some options that most people know about and others that are less well known.
- Long-Term Care Insurance. Long-term care insurance is a policy that is purchased through a private insurance company. The price is based on health factors such as age and pre-existing conditions. If you are denied by a company, it doesn’t mean that you will be rejected from another.
- Medicare. Medicare does not pay for assisted living. However, it might pay for short-term stays in a rehabilitation center while you recover from an illness, injury, or surgery.
- Medicaid. Check your state’s benefits. The Centers for Medicare and Medicaid Services (CMS), states, "Each state sets its guidelines regarding eligibility and services." We know that the number of state Medicaid programs paying for assisted living is increasing and options are available through Medicaid that wasn’t a few short years ago.
- Aid and Attendance Veterans Benefit. Aid and Attendance is an enhancement to a veteran's regular VA pension. As of 2017, an eligible veteran may receive up to $1,794 monthly, a surviving spouse is eligible for up to $1,153 monthly, and a veteran with a spouse is eligible for up to $2,127 monthly. Check your VA benefits for specific details.
- Life Settlements. A life settlement is the sale of an existing life insurance policy to a third party for more than its cash value, but less than its net death benefit. A life settlement might make sense for you if you no longer want or need your current policy—or if you can no longer afford the expense of paying insurance premiums and are willing to give up or replace the coverage.
- Reverse Mortgage. A reverse mortgage is for seniors age 62 and older and is also known as a home equity loan. Reverse mortgage loans are insured by the Federal Housing Administration (FHA) and allow homeowners to convert their home equity into cash with no monthly mortgage payments.
Q: I’m used to living an active life. Will I get bored or have to stop doing the things I love?
A: In, What Makes a Good Assisted Living Facility, you’ll read about the growing trend of retirement communities with a central focus of providing uncompromised care and offering countless amenities, enrichment activities, and opportunities to explore your interests:
“Just because your loved one is going to have someone to help with their daily needs is no reason to believe he is to watch TV all day. Some great senior living communities should have days where residents live healthy and productive lives. On these days, your loved one can engage in activities which make him occupied for a few hours. It makes their stay more fulfilling.
Great senior living communities go beyond offering basic living layouts and healthcare resources. Search for a community which embraces and encourage fun activities and events. A reputable center provides a wide range of activities on the premises to suit the hobbies, fitness requirements and preferences of residents. They might also offer some off-site excursions like shopping, movies, live theater to make the life of residents fun and engaging.
Senior living communities are moving away from the recreational standard that typically includes Bingo, cards, and birthday celebrations. Modern senior care is running at times. In this era, it’s all about technology, and the best retirement centers are beginning to integrate computer generated games and activities into daily programming.”
Q: My friends live in my neighborhood. Will I spend a lot of time alone in a senior living facility?
In Why Senior Living Communities Are Great, you’ll read seniors describe that maintaining friendships and community involvement are the most important aspects of living in a senior living facility:
“Older adults love being able to get involved in the events hosted by the senior living community they belong to. There are opportunities to make new friends and socialize with other residents during group activities like yoga, painting class or a game of bridge.
Depression is the leading mental illness among older adults and can lead to severe anxiety, isolation, and eventually cause other health problems such as high blood pressure and heart problems. What is the best remedy for depression? It certainly doesn’t come in pill-form or result from anything that you can do by yourself.
Friendships are the most commonly reported benefit reported by residents living in senior living communities. Being able to share in the joys and pains of other older adults is a meaningful experience that is treasured for a lifetime. Connection to peers provides seniors something to look forward to every day and fills their lives with purpose and passion.”
The key to finding a great senior living facility is to take several tours, explore the facility, and observe the people and space. Are the seniors participating in engaging activities that enrich both mind and body? Is the facility safe, well-kept and stocked with amenities that make life enjoyable and convenient?
Take some time to answer these questions, and you’ll find an ideal setting to make your next home.
Landmark Senior Living has seven premier retirement locations that can meet any budget without compromising on the care you deserve and the quality you expect. Call today for your complimentary tour!