how much does assisted living cost?
April 18, 2022
The demand for assisted living services has gone up exponentially throughout the years. In 2021, there were over 810,000 individuals recorded to be residing in assisted living facilities. The demand is understandable, seeing as these facilities offer high-quality care and assistance to senior citizens.
That said, how much does assisted living cost?
In December 2021, Ohio was deemed to be one of the most expensive places for assisted living. It is ranked 14th place in total out of all 50 states. The average price for a month of assisted living is around $4,432. Based on this price, seniors would have to save for over 12.5 years just to afford one year of residing in an assisted living facility. And yet, year-by-year, the demand continues to rise, showing that hundreds of thousands of people find the price to be worth the benefits.
Is Assisted Living Worth the Cost?
When you take advantage of assisted living services, you’re not just paying to live in the facility, but also the services that come with it. One of the main reasons why senior citizens and their families enroll them in these facilities is because they will be given a quality of care and attention that they wouldn’t normally be able to sustain on their own.
Many seniors have issues with their eyesight, mobility, memory, and more. However, when you reside in an assisted living facility, you gain access to a safe and welcoming community that specifically caters to your needs. You will be assisted and guided by a team of highly skilled medical professionals who have years of experience in helping other seniors in similar situations. They can assist you in various day-to-day tasks, such as eating, keeping clean, and tracking any special medical conditions and medications.
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Assisted Living may come with a considerably steep price tag. However, that price covers the services from the staff, the comfort from the facility, and the resources you may use during your stay.
Ultimately, whether the price is worth it for you depends on your financial situation. However, if you are a senior citizen that is encountering difficulties while living on your own, then assisted living can serve as a serious investment into your wellbeing.
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Financial Assistance Options for Assisted Living
Ohio offers a few benefits and financial assistance options for senior citizens. Below are some of the options that you may considering looking into to receive financial assistance to pay for assisted living:
- Ohio Elderly Services Program (ESP): Offers in-home assisted care and medical services. Their services include emergency healthcare services, medical equipment, adult day care, and more.
- Residential State Supplement: Managed and provided by the Ohio Department of Mental Health. This program offers financial assistance for those in assisted living, adult group homes, and adult foster care. However, you must be enrolled in Medicaid to qualify.