Getting help with activities of daily living (ADLs) is easier than ever before with the influx of aging Baby Boomers in Knoxville. Assisted living takes many forms and can be found either in-home or in a community atmosphere. ADLs include dressing, bathing, grooming, medication management, transportation to appointments, light chores, and laundry. If you need help with two or more ADLs, assisted living may be an option you should consider.
Assisted living facilities can appear as sprawling hotels or individual cottages, and everything in between in Knoxville. Many offer continuum care that allows residents to age in place so there is no need to move out of the community, if your health changes and requires intensive around-the-clock care in the future.
These communities offer daily social activities and comfortable furnishings in beautiful settings. Some places provide hospice and Alzheimer’s disease services. Others, like the Atria Weston Place, provide devotional services, respite, complimentary transportation, and small pets. Assisted living communities reflect a diverse city and finding one to match your personality and tastes shouldn’t be that difficult. Tour several before committing to one and speak directly to residents and their families about their experiences with the facility.
As of 2014, 15 percent of the state’s population consists of seniors age 65 and older.
More than 9 percent of Tennessee seniors are over the age of 70.
Of the population of the state’s seniors age 80 and above, women make up 65 percent of this total.
It is estimated that 24 percent of the state’s population by the year 2030 will be age 60 and older.
In-home care may be a better alternative if you own your own home and can afford to pay the costs associated with maintaining the property. In Knoxville, the average aide working full-time is paid $41,138 per year. This rate is less than the national average.
Assisted living communities vary in price from facility to facility, however the median rate is $41,250 per year for a one bedroom, single occupancy apartment, according to the Genworth 2015 Cost of Care Survey for Tennessee. This rate includes living expenses such as utilities and maintenance. Rates are typically charged on a monthly basis. Knoxville’s rates are lower than the national average, but are expected to increase by as much as two percent in the next five years. Check with prospective facilities about what services may require an additional fee. Certain communities offer ice cream parlors and other dining experiences that may cost a little extra.
The price of assisted living facilities may give you sticker shock at first glance, however consider the things you pay for that will no longer be an issue as they are included in the cost: utilities, maintenance fees, landscape upkeep, housekeeping, and laundry. Depending on the community, other services like the beauty salon, barber shop, or transportation may be included in the cost or at a reduced rate on-site.
Splitting the cost of assisted living with a roommate is another option and many communities offer two bedroom apartments.
Assisted living can be paid for using savings accounts, trusts, annuities, IRAs, and retirement benefits. If you own your home, you can consult an elder-law attorney about taking out a reverse mortgage, a popular option for seniors. Make sure you understand the terms and conditions of the loan to avoid foreclosure. Selling or renting your home may be an option for you.
The VA Aid and Attendance pension will pay for assisted living care for wartime vets and their surviving spouses. You will need to contact the Veterans Administration to see if you qualify.
Long-term care insurance can be used to pay for ADL help. Seek advice from a financial planner to see if cashing in your life insurance policy is the best option for your circumstance. In most instances, you will only receive 50 to 75 percent of the face value of the policy. If the company will not buy back the policy, you may be able to go through a third party to receive the percentage, however in the event of your death, the company becomes the beneficiary to the remaining funds.
Tennessee’s Medicaid Program, TennCare, covers assisted living in its CHOICES Long-Term Care plan. The plan covers nursing and personal care services, but not room and board. Check with your local office to see if you qualify. You must meet the income guidelines and medical requirements to be eligible for the waiver.
Find assisted living in Knoxville near you.