Tampa Assisted Living
Moving is never an easy task, and when making the choice to move out of your home and into an assisted living community, there are some additional questions you need to ask. Seniors considering making the change might wonder how much an assisted living facility costs monthly, and what is included in those fees. You may also be curious about how to find the right community for you, or how to pay for the living expenses. Tampa is home to one of the largest retiree populations in the country and has over 50 different properties to choose from. With the average monthly cost lower than the national median, you’re sure to find the perfect fit in your price range. Here we answer a few commonly asked questions about assisted living in the Tampa Bay area.
Assisted living community cost in Tampa
The Tampa Bay area offers sunny skies, temperate winters, and access to some of the best assisted living options in the country. Despite all of the perks, the cost of care in assisted living facilities in Tampa is below the national median. Tampa seniors will average $3,000 monthly, while nationally the median is $3,600.
The actual cost to an individual can vary greatly depending on the types of amenities and facility you’re considering. Take for example two options listed amongst the properties on SeniorAdvisor.com. The highly-rated St. Josephs John Knox Village has studio options listed at as little as $1,700 monthly, and the state-of-the-art advanced facility, The Estate at Hyde Park offers listings at the other end of the spectrum, $6,725 for a one bedroom residence in the plush community. You’ll find details of these two properties, as well as dozens of others at price points everywhere in between on the site.
Assisted living expectations
Properties throughout the Tampa area each have different options and amenities, making it easy to find a great fit. Pet lovers can consider facilities that allow their furry friends to live with them, like Adam’s House located near the Air Force base. Other communities have different specialties. Some examples include luxury amenities like a pool or salon and spa, waterfront views, wellness programs, religious services and more. Take time to develop a list of what is most important to you in your new community to assist with your search finding the right fit.
Narrowing your search for assisted living in Tampa
Knowing what you’re looking for in an assisted living facility is the first step in finding the right property that matches your needs. Once you have your criteria, ask trusted friends for recommendations in the area they have had a good experience with. Use the internet to search for options that meet your criteria and have good reviews and have been rated highly. Senior living advisors can be an excellent resource to help pair your needs and budget with properties in your area. Some will even come with you during facility tours to ensure all of your questions are answered.
After compiling your list of assisted living facilities you believe to be the most promising, schedule a tour with each one. Bring along a notebook and a checklist to take notes and obtain answers to all of your questions. SeniorAdvisor has an excellent, in-depth checklist for free here with the most important questions on every aspect of a potential facility. Remember to ask about monthly costs, services included, additional care options, visiting protocols and more. Compiling these answers for each facility will make it easy to decide which is the best for you.
Financing options for your assisted living move
Transitioning into assisted living might seem like an expensive choice, but like many seniors you might find when you compare the costs of the maintenance, property taxes, monthly utility bills, in-home care, plus the monthly mortgage payment on your current home, assisted living is actually quite affordable. When you make the move it may be possible to sell your home and use that revenue stream to pay for assisted living care. For some, selling won’t be an option as you may have a spouse or dependents living in your home, but there are other possibilities that could help finance your assisted living move.
Applying for financial assistance from Medicaid is one way that seniors in need of assisted living can pay for care. The federal-state program is available if you have a low-income and limited assets, not including your home. Over half of the nursing home care in the state of Florida is funded by Medicaid, and it’s easy to apply. Visit the Florida Department of Children and Families website for complete details on the application process, and specific criteria you need to meet in order to apply.
Retired military veterans who served during a federally defined wartime, and their widows, may have the VA Aid & Attendance program available to them. It is not necessary to have served in combat, only to have been active duty during the period. Your regional benefits office in St. Petersburg can assist with your application, and help you ascertain if you are eligible. Be prepared to be patient with the process as it can be lengthy, but once benefits are granted the funds will be post-dated to the original date of application.
While there are many types of insurance that won’t cover assisted living costs, which we discuss below, long-term care insurance is one type that will cover some or all of the fees. If you have a policy contact your agent to review the details on coverage, benefits, and exclusions when making your assisted living choices. Also, consider putting a plan in place to ensure monthly payments get made into the policy to avoid a lapse in coverage in the case of a serious illness or memory issue developing later in life.
There are a few additional options for financing assisted living, taking out a reverse mortgage on your home or using the cash value from a life insurance policy. In both cases, these choices impact your financial position, taxes for the year, as well as any legacy planning you may have done. Be sure to consult with a professional in the field like a financial planner, attorney, or tax professional before deciding if one of these are right for you. Remember, traditional forms of insurance like Medicare, regular health insurance, or worker’s disability insurance through your employer will not cover the costs of assisted living.
This article explores just a few of the answers to commonly asked questions about assisted living. SeniorAdvisor.com has a number of additional resources, including robust property listings and user reviews to help you make the right move into the right community for you.
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