Louisville Assisted Living
Reasons to move from your home to assisted living vary, but when the decision is made, a period of adjustment should be expected. Even though living arrangements will be different, assisted living communities offer solutions for those who need help completing daily tasks. Beyond the support level, there is much to consider when planning a move, from costs to location and added amenities.
Average Assisted Living Costs In Louisville
The median cost for assisted living in Louisville and Jefferson County is about $3,583 per month for a one bedroom single occupancy space, per a 2015 Cost of Care Survey by Genworth Financial, Inc. In comparison to the national average, Louisville rates are a little lower. The U.S. median for the same assisted living space is $3,600 a month.
In comparison to in home services, assisted living costs on an annual basis are slightly lower. It is worth noting that costs for in home services from a licensed home health aide are only part of the expense. There are additional costs in maintaining a home.
What You Can Expect In Louisville Assisted Living
Moving to an assisted living facility doesn’t mean a total lifestyle makeover. Assisted living communities know the value in helping seniors maintain a familiar lifestyle. In addition to regular support with daily tasks, facilities offer basic amenities like dining services, housekeeping, laundry services, wellness programs and a variety of social activities such as trips to museums or theater.
Assisted living communities provide options for private living spaces as well. Using good research approaches, seniors can find spaces with suitable layout, size and features within budget. It is important to note that costs may increase with added features and services. The trick is to know the all-inclusive costs for desired amenities. Also, consider any future needs and figure out if facilities in consideration can meet them.
Locating Assisted Living Communities In Louisville
When it comes to locating assisted living communities, Louisville has several top rated neighborhoods, from Downtown to Bardstown. The area chosen is a matter of personal taste. Use available resources to locate facilities in an area of choice with the amenities desired, such as a space within close proximity to parks or shopping. Free resources like Kentucky’s Social Service Division can be helpful in pinpointing top contenders. Before making a final decision, be sure to visit top choices and check out any reviews from current or previous residents.
How To Pay For Assisted Living In Louisville
For many, there is no getting around the use of private funds to pay for assisted living expenses. Private funds typically include retirement benefits, insurance policies, the sale of a home, or a home equity based loan such as a reverse mortgage. Benefits from some government programs such as Medicaid and Veterans pensions are other options. Let’s examine some of these alternatives.
If willing, homeowners can sell their primary residence to cover assisted living expenses. If selling is not an option, a reverse mortgage is another way to get money out of the home. With a reverse mortgage, home equity is withdrawn and used to pay for assisted living expenses. This only works for borrowers who are occupants of the home.
Long term insurance is another way to pay for assisted living. With this option, it is important to weigh the costs of premiums versus benefits received. It is also important to be very clear on policy terms and payout eligibility. If using this option, premium payments must be kept current.
The Kentucky Medicaid program may provide assisted living support to those who meet certain criteria. Those who qualify typically have low income or are disabled. Medicaid is different from Medicare. Medicare basically provides health insurance coverage to those ages 65 and older, but does not provide for assisted living care. Medicaid provides health care services in addition to coverage for nursing home or assisted living expenses. In Kentucky, contact the Department for Medicaid Services for help in understanding Medicaid eligibility.
The Aid and Attendance Program is designed to provide qualified veterans with financial support for assisted living or nursing home care. Veterans receiving a pension may qualify for additional amounts that can be used towards assisted living. Contact the Kentucky Department of Veterans Affairs for help. There is an application process, but if qualifications are met, the extra money can make the process worthwhile.
Louisville has several communities that support senior assisted living lifestyles. Using this information, you can uncover a facility just right for you.
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Find assisted living in Louisville near you.