When you make the decision to move into assisted living, there are many questions you need answered. There is the concern of cost and how you can pay for your new home as well as what your day to day life will look like in assisted living. Toledo has plenty of options for assisted living, and the average costs are right in line with national prices. As for what your day will look like, that is entirely up to you and your needs. This guide will help outline the basics of assisted living and what that means for seniors in Toledo, Ohio.
The big concern for most seniors is cost, and while Toledo is a little higher than the national average, it is still manageable. The national median cost of assisted living is $3,628 per month and in Toledo that price goes up to $3,875 per month. There are also a lot of factors that could change that number.
Currently, on SeniorAdvisor.com there are listings for semi-private rooms that cost $2,500 at the Glendale Assisted Living and one-bedroom places at the Ohio Living Swan Creek that run anywhere from $3,099 to $5,376. There are a lot of options when it comes to assisted living, and you can find the best one to fit your budget. The size of the facility and your room, as well as the location and services you decide to use, can all affect your price.
You’re used to a routine in your home, so living in an assisted living facility might be unfamiliar. Luckily, you can choose your new home based on your needs, desires, and budget. If you want a place that allows pets, you can pick a place like Oakleaf Village of Toledo. This facility also has on-site devotional services if you want a faith-based community. The Glendale Assisted Living has on-site barber services, daily activities, and it’s centrally located so you can enjoy all that Toledo has to offer.
Once you have chosen what you would like from your life in a facility, you can start to look at places near you. Ask for suggestions from neighbors, close friends, and relatives in the area, and you can also talk to your doctor or health care provider to see if they have recommendations. Once you have a sizable list, turn to online sources to read reviews and do more research on each place so you can narrow it down to the few you like.
If this seems a little too overwhelming to do on your own, you can always use the services of a senior advisor. This person is a professional often employed by the community they represent which means you or your family can use them for free. An advisor will talk with you to learn about your needs, your wants, and your budget and will come up with a few facilities for you to consider. They can also go with you on your visits and give you helpful insight to make your final decision.
When you do visit facilities, ask about what their total cost includes. Some services could be extra, and you don’t want any surprise charges at the end of the month. You should also find out about their continuum of care, so you know what will happen if your health needs change over the years. Bring your checklist along and don’t hesitate to ask any questions. You can go to the SeniorAdvisor Assisted Living Guide to find a whole list of questions to ask as well as information on paying for care and moving into a facility.
Once you learn about the cost of assisted living, you probably immediately think about how to pay for it. At first glance, it might seem like staying in your house and getting in-home health care might be a better financial decision. But if you look at it over the long haul, assisted living could be cheaper. The rates for in-home health care are lower than assisted living costs, but you also must pay for things like homeowner’s insurance, property taxes, mortgage payments, utilities, repairs, and necessary maintenance. You could sell your house, and after all taxes and fees, you can use the profits from the sale to cover your care needs. Even if you can’t sell your house, there are still options.
Medicaid can help low-income seniors that don’t have many assets, other than their house or car, pay for things like assisted living. Ohio Medicaid serves over 3 million residents daily and has a network of 90,000 providers. There are 961 Medicaid approved facilities in the state that you can use if you’re approved for benefits. To check if you meet the requirements or apply for coverage, you can go to the Ohio Department of Medicaid.
Another benefits program that could help with assisted living are VA Benefits. This program is for veterans or the widows of veterans that served during a time of war. You don’t need to have seen combat to get these benefits and the length of time for war could be longer than you think. If you don’t know whether you’re eligible for this program, you can contact the regional office. They will let you know what assistance you or your family members can receive.
Another form of assistance could be long-term care insurance if you already have it. Seniors with this type of policy should contact their agent to see what it covers. If it only covers room and board, you might have to pay for extra services or amenities. When you talk with your agent, you should also set up a payment plan or schedule. Seniors with long-term care insurance are at risk for allowing their coverage to lapse especially if they have a serious illness or some form of dementia.
Even if none of these options work for you, you could still consider things like a reverse mortgage or cash out a life insurance policy. A reverse mortgage allows you to use your home’s equity for things like assisted living if your spouse still lives in the house. Cashing in a life insurance policy also frees up some money to help with paying for care. If you decide to use one of these routes, please talk with a financial advisor and elder law attorney because there are some legal and tax consequences.
If you want to do more research on assisted living, go to SeniorAdvisor.com and learn even more about this form of long-term care.
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