If you’ve decided you no longer want to live in your home and are considering options for assisted living, you probably have a lot of questions. You might be wondering about the cost, how you can pay for care, what you’ll do at these facilities, and if it will fit your lifestyle and wishes. The Newark area is home to a variety of communities that each cater to diverse needs, and while the cost might be a little higher here, there are still plenty of ways to pay for your care. You can learn more in this guide to Newark assisted living facilities.
National median costs for assisted living are around $3,628 per month, but Newark tends to be much higher with monthly averages coming in at $5,305. That doesn’t mean you can find what you need at a reasonable price, though, you just might have to do a little searching.
For example, SeniorAdvisor.com has current listings for a studio at either The Parkview or The Woodlands for $1,500. You can find a private room at Job Haines Home for Aged People for around $9,859. These are two extremes in the Newark area and based on your budget, you can find something that works for you. Your total cost will largely depend on the location of the facility, the services you use, and if there are any extra amenities, you get as well.
If you’ve never visited an assisted living facility, you might wonder what to expect. There are so many different options when it comes to long-term care that you can find a variety of services and amenities like pet-friendly buildings at Branch Brook Park Manor along with therapy options. There are faith-based facilities like the United Methodist Communities at Bishop Taylor that have religious services and celebrations. Many of these communities are in downtown areas that are near shopping centers, medical offices, and various entertainment venues.
After you’ve thought about what you want your care and lifestyle to look like, you can start looking for facilities that match those needs. While it might feel overwhelming at first, you can easily make it more manageable. First, talk to your friends and neighbors, family members, or health care providers and ask for their recommendations. From those recommendations, start looking at online reviews and try to learn more about each place to see if you’re interested.
You can also choose to use a senior advisor to assist you in your search. These professionals usually represent a community and are paid through the facility for their services, so you and your family members can use them for free. They will look at all your interests, needs, and budget requirements and come back with a few different options. Then, they will visit each place with you and help you come to the best decision.
When you visit each facility, be sure to ask about things like cost and find out the included services and which ones cost extra. You should also ask about things like a continuum of care and what they can do for you if your health needs change while living in their facility. Don’t be afraid to ask a lot of questions and if you need help coming with questions, visit SeniorAdvisor.com. This guidebook contains information about finding, paying for, and moving to an assisted living facility.
When you start your search and see how much it costs to live in an assisted living facility, you might be tempted to stay put. While this might seem like a cheaper option at first, your expenses could add up over time. If you use in-home health care, you will need to pay for those services on top of mortgage payments, property taxes, homeowners, insurance, and the cost of necessary repairs and maintenance. You can always sell your home and use those funds to pay for your care, but if your spouse still lives in the house or you don’t own your home, there are still options.
Low-income seniors that don’t have any substantial assets, other than their house or car, might be able to use Medicaid. This benefit program can help seniors that don’t have a lot of money afford assisted living and the care they need. There are over 350 Medicaid approved facilities in New Jersey, and Medicaid patients can use them for little to no cost. There are certain requirements, though, and you can check your eligibility and apply for benefits through the Department of Human Services.
Veterans and the widows of veterans might also have financial help through the VA Benefits program. Don’t think this benefit program is only for soldiers that fought in a war; it’s for any military member that served during wartime. If you think you might be eligible for benefits, you can contact the regional office to learn more. They can help you learn about the financial help you and your family can use for long-term care.
Long-term care insurance is another payment option if you already have a policy. You need to talk with your agent, though, because not every policy will cover all the costs of assisted living. Your coverage might only include room and board, but you will still be on the hook for care services or extra amenities. When you go over your coverage with your agent, be sure to ask about preventing your coverage from lapsing. Seniors who have Alzheimer’s or other forms of dementia are sometimes at risk of losing their insurance if they let the payments lapse. You can set-up a plan now to stop that from happening.
Even if none of these financial options work for you, there are a few other financial assistance tools at your disposal. If you have a house, you could consider a reverse mortgage to tap into additional equity on your home. Your spouse will still have to live in your house for this to be a viable option. If you have a life insurance policy, you can cash that in and use that money to pay for your care. Be careful of both decisions though because there could be significant financial and legal ramifications. Talk with a financial professional or an elder law attorney to sort through your options.
These are just the basics of assisted living in Newark. You can find more information and do more research through SeniorAdvisor.com.
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