It can be heartbreaking to experience dementia brought on by an Alzheimer's diagnosis as you watch a senior loved one deteriorate in front of your eyes. Even more challenging is trying to figure out how to provide them with the best care. Should they relocate to a memory care facility or remain at home? Finding the true costs and benefits of memory care requires time-consuming research among the sea of information that comes up when someone searches online. We are here to make things simpler. To help you choose the best option for your loved one, here is the information you need to know about the price of memory care.

Costs of memory care: A closer look

Finding a memory care senior living facility can significantly improve the quality of life for people who are dealing with memory problems and give their families and caregivers a great deal of peace of mind. Memory care, which is frequently covered out of pocket, includes specialized supervision, on-demand medical care, and enriching activities, necessitating some financial planning. This may cause families to feel overburdened, especially if they do not have long-term care insurance.

Memory care room and board are typically not covered by Medicaid and Medicare Advantage plans, similar to assisted living, which significantly raises costs. Aside from things like veterans' benefits and the potential for Medicaid to pay some long-term care expenses once assets are completely depleted, memory care costs can quickly mount up. Depending on the region, the cost of assisted living can be increased by varying amounts when memory care services are added.

Although these estimates for monthly memory care costs may appear high at first, keep in mind that a memory care program also covers living expenses that are typically paid separately, such as:

Compared to aging in place, memory care is less expensive

In comparison to hiring a home health aide to help an elderly family member with housework and daily living activities, memory care is more affordable. A 24/7 intensive care home health aide works for an average monthly fee of $6,000. Usually, a memory care facility adds $2,000 to the monthly cost. When coverage for 24-hour home health aides is added, this cost may increase to $16,000 per month.

Comparing the costs of home health aide services and what is included in memory care

The savings go well beyond the initial average price difference when comparing memory care costs to hiring a home health aide. Even though your loved one may not need care around the clock, a senior who lives at home may still require care in the evenings and weekends when you are unable to provide it. Depending on the duties of the aide, you might also have to pay someone else to take them to doctor's appointments and run errands while you are at work. Also, keep in mind that your loved one's regular housing and living expenses must be paid in addition to these care costs.

They might also need to hire someone for home upkeep, landscaping, and snow removal services since a home health aide typically does not do easy work or tasks like mowing the lawn. The cost of making changes to a home cannot be disregarded. You might have to spend a lot of money installing ramps, better lighting, and senior-friendly bathrooms, to name a few.

The real cost of Memory Care: can you afford to miss out on the benefits of a Memory Care community?

When we total up all these expenses, it becomes much simpler to put the price of memory care into perspective and realize that paying for memory care is a wise financial move. Memory care can be the best choice for giving your elderly loved one the opportunity for social enrichment, intellectual stimulation, and daily exercise that they may not get at home, in addition to offering great value when compared to aging in place. With memory care, you can rest easy knowing that despite their condition, your loved one can still find meaning, happiness, and connections. That is because our staff members are aware that memory care serves both the purpose of preserving existing memories and creating brand-new ones. We encourage your loved ones to join us in creating them.

Contact us to find out more about Heritage Care Home's memory care services. If you have any questions or would like a tour, one of our staff members will be happy to assist.