If you have not yet started planning for care in a senior living facility, you are definitely not alone. Those who believe that available government subsidies are going to cover the level of care they will need are simply misguided. This is why it is a good idea to learn as much as possible about assisted living, how much it will cost, and how to prepare to handle the expense before the services are actually needed.
The cost will vary based on the location of the residence and the level of care provided. Many assisted living facilities will charge monthly, but some require long-term commitments. The base rate may fluctuate based on the size of the room, and the base price usually only covers the room. Some additional charges you should expect to pay in an assisted living setting include:
Entrance fees (sometimes equal to one month’s rent) Deposits and fees Housekeeping and laundry services Physical therapy or rehabilitation
However, while the costs for Nashville assisted living are often high, this type of location is typically more affordable than a nursing home in the same area.
It was not until 1996 that assisted living facilities in Tennessee were required to be licensed.
There is a total of 264 senior facilities in the Nashville area.
Individuals may not be admitted to or allowed to stay in an assisted living facility in Nashville, if they have an active infectious and reportable disease that is considered a danger to themselves or others, has a stage III and IV ulcer, or that requires physical or chemical restraints.
The cost of a single-occupancy room in an assisted living facility in Nashville ranges between $600 and $5,155 per month. Annually, this equates to (on average) $39,900, which has not increased in the past five years.
The cost for Nashville seniors is slightly lower than the state average, which is $40,740. The National average is $43,200 for ongoing care in an assisted living facility.
When trying to find the right assisted living facility for you, or a loved one, asking questions can help you fully understand what is covered, what is extra and all aspects that impact the cost of assisted living care. Some questions to ask include:
Are the majority of the services covered by the base daily cost?
Is there a list of the services that are covered?
Will the facility accept Medicaid or Medicare payments?
What is the policy on returning advanced payments that are made?
One of the best ways to reduce the cost of staying in an assisted living facility in Nashville is to share a room with another patient. It is also a good idea to ask about move-in-incentives and whether or not the facility being used is willing to negotiate the price. The price that is given is not always set in stone, and there is often some “wiggle room” available if you ask.
Be sure to do plenty of research, visit several facilities and ask for several price estimates. Doing so will help you find an option that best meets your budget limitations.
Many seniors and their families do not realize that neither Medicare Parts A nor B will provide coverage for ongoing, comprehensive long-term care. Medicare A, which is hospital insurance, may cover the cost of a semiprivate room, nursing, meals and rehab services for the first 100 days after being released from the hospital, but this is not guaranteed. Medicaid offers assistance for low-income seniors, but eligibility has to be determined and this often takes a while.
Seniors who need help paying for care should consider long-term care insurance. This will pay out benefits when a person enters into an assisted living facility. However, it is important to seek this insurance prior to actually needing the care.
The AARP offers quite a bit of information for seniors who are looking for financial help and is a resource that should be used.
Find assisted living in Nashville near you.