The rising cost of living is consistently one of the top financial worries that keep seniors up at night, so it can be tempting to judge assisted living by its price rather than by the value it gives. But there are hidden costs—emotional, physical, and monetary—to selecting the least expensive senior living choice rather than the one that best suits a person’s needs both now and in the future. It’s fantastic to get deals at the grocery store or a yard sale, but it’s not great to choose assisted living based only on cost and not consider a loved one’s specific needs.
Selecting Assisted Living By Cost Makes Compromises Elsewhere
The foundation of assisted living is the belief that encouraging residents to maintain social, mental, and physical activity while offering the ideal amount of support encourages healthy aging and lowers overall senior care expenses. Evaluating assisted living only on the basis of cost flips that model on its head by ignoring its primary goal of fostering independence, participation, and good aging.
The decision to go with a senior care choice that satisfies their financial needs but doesn’t make them feel at home, promote participation, or accommodate their unique care requirements may actually result in future costs. If a community cannot meet needs or properly engage your loved one, those may manifest as increased medical or personal care costs. Those costs may even take the form of moving costs if a future relocation to a new facility is necessary.
The Cost of Assisted Living May Be Lower Than You Imagine
When seniors and their family members look at the monthly cost of an assisted living community, they could experience sticker shock, but it’s vital to keep in mind that the price includes practically all living expenditures. When all expenses are taken into account, the monthly cost of high-quality assisted living may be on par with or less than the cost of staying at home. These expenses include room and board, food and nutritional counseling, exercise and rehabilitation, social engagement and recreation, transportation, and personal care. In order to choose the assisted living facility that offers the most value, it is crucial to always analyze what is included in the cost, even if the cost should be a key factor.
The finest assisted living option for a loved one must be cost-effective, but it must also offer the appropriate level of support, encourage social interaction, and support healthy aging in order to be truly valuable.