If you are wondering what assisted living is all about and the costs associated with this popular option, you can rest easy knowing assisted living communities in Lexington are certified by the Kentucky Department of Aging and Independent Living.
Assisted living can occur in-home or in a facility. If you value independence, but are starting to need help with a couple of activities for daily living (ADL), then assisted living might be the option for you. ADLs include bathing, grooming, dressing, grocery shopping, meal preparation, light housekeeping, and other daily tasks to keep you healthy.
An assisted living community may consist of units in an apartment-style building or a community featuring independent living homes, one and two bedroom apartments, and a memory care neighborhood. These communities are vastly different between locations and you can find one that suits you. Make sure to take a tour of several before choosing one.
If you prefer to remain at home, interview several home health companies and their aides to find one that meets your needs and you feel comfortable with in your home.
Kentucky’s senior population of those aged 60 and older is expected to increase over 25 percent by the year 2030.
33 percent of Kentucky seniors age 65 to 74 have a disability requiring long-term care.
Kentucky Medicaid will cover assisted living care with a waiver.
Living expenses are covered in the monthly fee including upkeep and maintenance, utilities, and housekeeping.
Assisted living facilities vary in cost depending on the location and services provided. Some services are included in the monthly rate. However, services like beauty or barber services may entail a separate fee.
The Genworth 2015 Cost of Care Survey for Kentucky reports the median monthly rates for one bedroom, single occupancy apartments in Lexington and the Fayette area at $3,924.
This rate is above the national average and is expected to increase by nine percent in the next five years, but Lexington residents can retire in a community with rolling meadows in the Bluegrass State for $47,090 per year with no landscape fees. The state average is $3,350 per month.
Staying at home and employing a full-time aide may be a better option for you if you own your own home and can afford to pay for indoor maintenance and outdoor upkeep. A full-time aide averages $43,769 per year in Lexington. This rate is expected to increase by two percent by the year 2020.
Lexington seniors looking for ways to save money on assisted living can choose a community that offers continuum care so you can move seamlessly from independent living to intensive 24 hour care as your health needs change without leaving your friends and community.
To avoid transportation fees, choose a facility that either offers complimentary transportation or provides services within the community and short walks to shopping areas. Many communities offer devotional services and indoor and outdoor activities at no extra cost to you. You can also consider dividing the monthly charge by getting a roommate.
Low-income Lexington seniors can go through Kentucky’s Home and Community Based Waiver Program for the Aged and Disabled to help cover assisted living. Kentucky’s Medicaid program will only cover assisted living at home or in a community if it is less expensive than a nursing home. In order to qualify, you must be a resident of Kentucky, be age 65 or older, need a level of care that requires a nursing home, and meet income requirements.
If you exceed the income and assets guidelines, you can either meet a spend-down through the Medically Needy Program, or meet with a Medicaid Planner to move your assets into non-countable trusts or annuities. Contact your local Medicaid office to see if you qualify and discuss your options.
If you own your home, you can use the equity to pay for assisted living, either by selling, renting, or taking out a reverse mortgage. Discuss these options with an elder-law attorney to see which one is a better fit for your circumstances.
Veterans that served in the military during wartime can contact the Veterans Administration about the VA Aid and Attendance pension. This benefit can help cover the cost of assisted living. Surviving spouses are also eligible.
Families can consider using trusts, savings accounts, IRAs, and other investments to pay for assisted living care.
Find assisted living in Lexington near you.