As you get ready to make your big move to assisted living, you may feel some stress or anxiety. After all, any large change in life is nerve-racking. You probably have many thoughts in your head like how much will assisted living cost, what will my life be like there, how do I find the right place, and how will I pay for all of this. Good news is that paying for your assisted living expenses may not be as hard as you imagine. Here is some information to give you an overview of assisted living in Oakland and to help you with your search.
The cost of assisted living care in San Francisco/Oakland is higher than the national average of $3,628 per month, which is most likely not a surprise with the cost of living in California. In 2016, the monthly average cost of assisted living care in San Francisco area was $5,950.
Don’t let the price of nearly $6,000 give you sticker shock. Depending on your location and style of assisted living community, you will see a broad range of pricing. You can find a semi-private room at Lakeshore Residential Care starting at $2,000 a month. If you want more room and luxury, you can get a view of the Bay at the luxurious Bayside Park for up to $7,950 a month. There are also several other communities that fit in between these two price categories.
There is a wide-range of assisted living facilities available to meet various interests, including faith-based care. There are pet-friendly communities so you can have a dog or a cat in your residence. If you want to live in the urban oasis of the Grand-Lakeshore District, Grand Lake Gardens is one block away for all the excitement. Sunrise of Oakland Hills is adjacent to several parks and green spaces if you wish to take relaxing walks. You can find an assisted living community in Oakland to help you live the life you want.
Do you know where you want to live, such as downtown or near parks? What do you want most from a community? Take time to consider what is important to you. Once you determine what community amenities you want and where to live, you can narrow down your search. Get referrals from your friends, neighbors, relatives, or anyone else you know that has experience with assisted living communities. Online reviews also provide great feedback. You can contact a local senior advisor. Care Patrol offers senior placing assistance through expert advisors. Take your advisor and family members with you on your community visits to get other opinions and valuable insight.
Be sure you know what your monthly bill covers, what services are extra, and how the community will handle your care when your health changes.
The cost of assisted living may seem very daunting. When you compare living at home and utilizing the same services, the cost may be cheaper. When you compare your home costs such as taxes, mortgage, utilities, upkeep, and possible repairs, you will see these numbers add up quickly. Then you need to add the cost of a home health aide. Keep in mind that you may have to do additional upgrades to your home if your health changes.
You can pay for your care by selling your home and using your proceeds, which is the money you earn after paying fees and taxes. If you don’t want to sell your home for some reason, there are additional options available.
It’s important that you know that Medicare and health insurance do not cover assisted living costs, which many people aren’t always aware about. Workers’ disability insurance also does not pay assisted living costs.
Medicaid may be an option for low-income and low-asset seniors. This federal-state program provides coverage to more than 4.6 million low-income seniors nationally. To learn more about eligibility or to apply, visit California’s government benefits website.
For veterans or widows of veterans, you may qualify for VA Aid & Attendance pension to help cover your assisted living expenses. To be eligible, you or your spouse must have served during a time of war, but not necessarily in combat. Contact your regional California benefit office to learn more or to apply. This process can be rather lengthy and take several months.
If you purchased a long-term care insurance policy, it would most likely cover assisted living costs. Before you depend on this coverage, discuss your policy with your agent, so you understand limits, lifetime payouts, exclusions, and coverage. Some policies only cover services and not room and board expenses. It is also important that you continue to pay your policy on time, so you do not experience a lapse in policy coverage. Automatic bill pay will keep you from forgetting to pay your bill.
If you want to keep your home for your spouse, you may want to consider a reverse mortgage, which utilizes the equity in your home for cash. You can also cash out a life insurance policy early. Be aware that both of these options carry tax implications and can affect any money you wish to leave for inheritance. We recommend discussing the details with either your financial planner, tax advisor, or an attorney.
Now that you are a little more familiar with assisted living in the Oakland area, you can continue your search on SeniorAdvisor. There are articles on neighborhoods, links to award-winning care providers, reviews on the facilities, information on how to find the right assisted living community for you, cost estimates, and more.
Find assisted living in Oakland near you.