Madison offers all sorts of assisted living options for senior residents that allow them to live safely and independently. Homemaker services and home health aides help out seniors that reside at home, while assisted living facilities provide living quarters with access to 24 hour on-site support. Assisted living facilities and in-home help offer services such as:
Meals and housekeeping Personal care and support Social outings and activities Medication and appointment reminders Transportation
Wisconsin assisted living facilities are classified as either Residential Care Apartment Complexes (RCACs) or Community Based Residential Care Facilities (CBRFs). An RCAC is designed in the style as an apartment complex, with individual units for each resident complete with a bathroom and kitchenette. Residents take care of themselves, but help is on hand if needed. CBRFs provide slightly more supervision and are laid out in a community style, often with shared bathrooms and a communal dining room.
The number of Wisconsin residents over the age of 85 is expected to rise by 59% between 2007 and 2030, thus increasing demand for assisted living services.
There are currently over 1500 certified CBRFs in Wisconsin that range in size from just 5 beds to over 250 beds.
985 CBRFs specialize in elder care, while 872 are equipped to serve patients with Alzheimer’s or other forms of dementia.
There are over 200 certified and almost 100 registered RCAC in Wisconsin.
In 2009, Wisconsin spent just 28% of Medicaid funding on home and community-based assisted living care.
In 2015, Madison residents paid a premium for assisted living services. While the national annual median cost for home care services was around $45,000, the cost of homemaker or home health aide services in Madison was $61,501. Madison residents also paid more for care in a full-time assisted living facility, handing over an annual median of $48,900 while the national median cost remained at $43,200.
The price for long-term care in Madison is rising quickly as more seniors choose the city as a retirement destination. While the national costs of home health services are only expected to rise by 1 to 2% in the next 5 years, the cost of similar services in Madison is expected to rise by as much as 4%. The price of living in a Madison assisted living facility is also expected to increase by 4%.
It’s important to know what services are included in the monthly fee charged by an assisted living community. While this fee always covers rent, other services may only be offered at an extra charge. When researching communities, it’s important to ask questions such as:
Does the facility accept Medicaid? Which long-term insurance policies are accepted? Are residents required to purchase renter’s insurance? Is there a fee for guests to dine or spend the night? What meals and housekeeping services are included in the monthly fee? Are there extra charges for transportation services? Does my rent include all utilities?
Long-term care in Madison can become expensive over the years. Care in an assisted living facility may cost residents upwards of thousands of dollars each month. In order to save money, some facilities allow seniors to share an apartment with a roommate and split rent costs. Other facilities offer sliding-scale rates for low-income individuals.
Home health services tend to be significantly more expensive than assisted living care in Madison. Some seniors still choose to keep their house and hire homemaker services or a home health aide, but many Madison seniors decide to sell their house and move into an assisted living facility. Not only does this option save seniors money, but the proceeds from the house can be used to help cover long-term care costs.
Paying for quality care in Madison isn’t as hard as you might think. Low-income seniors with limited assets may be eligible to receive financial assistance through Medicaid. Veterans that are housebound and require full-time care can get help paying for assisted living through the VA Aid & Attendance pension. If you happen to have long-term care insurance, your policy may cover some of your care expenses.
Seniors that are paying for in-home care may be able to cover the costs by taking out a reverse mortgage on their home. This allows a homeowner to keep living in their house until they leave permanently, after which it belongs to the lender. Speak with your lawyer and estate planner if you’re considering taking out a reverse mortgage to cover long-term care costs.
Find assisted living in Madison near you.