Plano, Texas is home to more than a dozen facilities that provide a variety of assisted living lifestyle options for area seniors. Types of assisted living services available for older adults include getting a helping hand with daily living activities such as bathing and dressing, grocery shopping and meal preparation, housekeeping and laundry, and transportation to doctor’s appointments. Here’s an overview of assisted living in Plano, which features a checklist of questions to ask when visiting a facility, and suggestions on how to budget for and cover the costs of provided services.
Arrange to tour several assisted living facilities where you can learn more about services offered and ask questions. Having a checklist of features to check out will come in handy during your visit. The Guide to Choosing an Assisted Living Community, which is an online brochure published by the Assisted Living Federation of America (ALFA), features an extensive list of questions to ask and things you should be on the lookout for when visiting a facility. A few examples of questions to ask include:
Are dining services and meals included in the cost? Are wellness programs available? What types of social and recreational activities are provided? Are utilities included in the cost? Do residents have a 24-hour emergency response system?
The average Texas median annual costs for one year of services at an assisted living facility in the state were $42,180 in 2016, according to the Genworth Cost of Care Survey. The data published by Genworth does not include Plano in its metropolitan areas for Texas, but nearby Dallas posted median annual rates of $44,400 in 2016 for services provided by an assisted living facility. In comparison, the national median annual rates during that same period were $43,539 with 5-year projected annual growth rates of 2%.
Sharing the costs of living expenses with a roommate is one option to consider when you are looking for ways to save money on assisted living. If your mortgage is paid off, you own your home, and you are still active and independent but could benefit from a helping hand with daily living activities, have a close friend or relative move in with you. You could use the money provided by rental income to cover the costs of in-home based assisted living services.
Section 8 senior housing, which is also known as affordable housing, is one program administered by the federal government that can cover the costs of moving into an assisted living facility. Affordable housing is based on using a sliding scale of rates for low-income adults that have limited assets. Other types of government assistance programs include Medicaid and Veterans (VA) Aid & Attendance Pension plans.
If you are thinking of applying for a reverse mortgage, consider a Home Equity Conversion Mortgage (HECMs), which are federally insured reverse mortgages. HECMs are “backed by the U.S. Department of Housing and Urban Development (HUD),” according to the Federal Trade Commission (FTC). You can use the assets from a HECM reverse mortgage to help pay for the costs of assisted living.
Find assisted living in Plano near you.