Cleveland offers a great place for baby boomers to retire. There are plenty of doctors per capita, in addition to an award winning hospital system, Cleveland Clinic, which is ranked in the top five of hospitals across the nation. There are also more than a few continuing education programs offered at Cleveland State University and for the artistic, the Cleveland Institute of Art.
Currently, the total population of Cleveland is 389,521 with 12 percent of the population being over the age of 65. With so many people in this age demographic, it only makes sense that Cleveland has quite a few senior living communities. From nursing homes and assisted living facilities to senior apartments, the options are vast.
For those living in the area, it is important to learn a bit about the area to determine if this is where they want to spend their Golden years.
Living in the state of Ohio is relatively inexpensive with the average cost of living being 6.9 percent lower than the national average. Income tax rates are a bit higher and up to 5.9 percent, with the estate tax going up to 7 percent. The total number of senior residents is increasing steadily.
Aging is inevitable, but there are still people who are somewhat unprepared for the changes that go along with this natural process. For those who are planning to retire, or simply need someplace new to live as they age, there are a number of considerations to make.
In some cases, a senior will need additional care. This care can be to manage an ongoing disease or condition, or it may be to help with activities of daily living. However, most people have one question in common – what is the care that is needed going to cost? Here you will find a breakdown of the cost of care in the Cleveland area for various types of senior living environments. Being informed can help you make an educated decision.
Licensed homemaker services (hourly cost): Between $17 and $19; $43,472 annually on average. Adult day care services (hourly cost): $52 to $70; annual cost of $14,560. Assisted living (private room): $2,250 to $5,790 per month; annual cost of $50,946. Nursing home care (semi-private room): $185 to $296 per day; annual average cost of $82,490. Nursing home care (private room): $220 to $428; annually $91,980 on average.
For some, nursing home care and assisted living care is not something they are interested in. Instead, they are looking for a more active community, such as what is offered at senior apartments. These are essentially small, 55 and over communities where a senior can live amongst others who are at the same point in their lives. There are many of these apartments that have a cost that is determined by how much the senior makes, or has an income. More information about this can be found by contacting the professionals from the U.S. Department of Housing and Urban Development, HUD.
Senior living in Cleveland is extremely diverse. There are a number of locations, each catering to a unique group of seniors. For those who are dedicated to living an active lifestyle with others who are around their age, Westerly Apartments may be ideal. For those who are concerned that they may need additional care down the road, then the Gardens of McGregor and Amasa Stone assisted living facility may be a better option. This option offers independent living, as well as ongoing care services for those who need it.
Finding the right senior living location in Cleveland is often largely based on one factor – the cost. The cost of the facility in some cases will be covered by insurance and Medicare, but this is not something that should be relied on.
Other options for paying for this care and living in a senior apartment include retirement plans from a previous job, or even selling the senior’s assets, such as their home, vehicle or stocks, and bonds. This will help cover the costs and reduce the potential of a financial burden being placed on family members. For seniors who have time to plan, purchasing a long-term care insurance policy can be helpful since seniors will have some money that will pay for care if they are ever living in a nursing home or assisted living location.
Find assisted living in Cleveland near you.