Colorado Springs is considered an extremely popular retirement community thanks to the beautiful scenery, all the sunshine, and the conservative values. This area was originally built as a resort city and the real growth occurred thanks to the gold strike that took place close by. Pikes Peak overlooks the community and there are several military bases in the area, including Fort Carson and NORAD.
Currently, the actual population of Colorado Springs is 445,830 residents. A total of 10.9 percent of this population is over the age of 65. With so many seniors in the community, it only makes sense that the city would cater to this population with plenty of things to do, as well as different living communities to consider.
Learning a bit more about the area can help you determine if this is where you wish to spend your golden years.
75% of the year is blanketed in the sunshine in Colorado Springs.
The economy of this city is driven by defense, high-tech and military industries, as well as tourism.
Colorado Springs sits at 6000 feet, which makes the summers in the area quite cool and appealing to those who are trying to escape from the heat.
The cost of living in Colorado Springs is slightly higher than the national average and this increased cost is passed on to seniors in the community. Due to this higher than average cost, many experience a sense of sticker shock when looking into various options for long-term care.
Being informed and knowing of the average cost of care, regardless of the level of the type of care you require, can be quite beneficial and help a person know what to expect in terms of ongoing costs.
Licensed homemaker services (hourly cost): Between $17 and $25: $49,192 annually on average.
Adult day care services (hourly cost): $58 to $210; annual cost of $19,500.
Assisted living (private room): $2,205 to $6,385 per month; annual cost of $53,100.
Nursing home care (semi-private room): $184 to $274 per day; annual average cost of $82,125.
Nursing home care (private room): $203 to $319; annually $87,965 on average.
If a senior is not in need of any services that assist with daily life activities, then living in an assisted living facility or nursing home is typically not the best option. Instead, they should consider living in a senior apartment. These apartments are focused on catering to the over 55 population. In many cases, these communities will base the rent payment on the senior’s income. More information can be found about this type of living arrangement by contacting the U.S. Department of Housing and Urban Development, HUD.
What type or level of care do you require? For example, do you need help with daily living activities, such as getting dressed, taking medication and the management of a disease or illness? If so, a location such as New Dawn Memory Care may be ideal. In addition to providing daily care services, this facility can also help those who may be suffering from dementia or Alzheimer’s disease.
However, there are others who may not want to spend their golden years being cared for. Instead, they lead a more active life and the Kissing Camels attraction, Garden of the Gods Park and other natural areas are calling to them. If this is the case, looking into the location of Sunrise at University Park may be ideal. This location is found amongst 100 acres of park space, located near a golf course and offers breathtaking mountain views.
Paying for the location the senior chooses is one of the largest concerns that many families have. After all, many facilities can equate to bills up to several hundred dollars each day. While seniors who have a home have the option to sell this for some of the funds to pay for this care, there are other ways to get the necessary money, as well.
Seniors who are not interested in selling their home may want to consider getting a reverse mortgage, which is when they are able to borrow against the value that is in their home.
Another option is long-term care insurance. This is an umbrella term for any type of insurance that covers nursing home care, assisted living care and home-based care. This type of insurance can help to cover the costs of assisted living services for a senior who has purchased a policy ahead of time.
It is important to understand that Medicaid will pay for respite stays at assisted living facilities and nursing home care for approximately 90 days, but there are a number of factors that can keep the policy from paying for this period of time. Most people have to meet medical and financial requirements in order to qualify for the payments offered by Medicaid or Medicare. This makes it difficult for some to receive help from these federally funded programs.
Find assisted living in Colorado Springs near you.