Statistics clearly illustrate that the United States is an aging nation. In fact, approximately 8,000 baby boomers are turning 65 each day, which is a trend that is going to continue for the next 18 years. It is also reported that approximately two-thirds of the people who are over the age of 65 are going to need long-term care at some point. Regardless of if that care is an assisted living facility, or some other type of location, the associated costs can be quite high. Also, the costs are continuing to go up year after year.
Getting to know some helpful information about assisted living, associated costs and how to plan for the future can give a senior, and their family, peace of mind. Being prepared is not impossible, but it does require quite a bit of time and understanding of what is going on.
Assisted living facilities are designed for older individuals who may require some help with daily activities, such as toileting, eating, bathing and dressing. These individuals do not need the intensive nursing and medical care offered by a nursing home setting.
Seniors make up 16 percent of the population in Washington D.C., which is approximately one out of every seven residents.
Since the year 2000, the Hispanic population of seniors increased by 32 percent, whites by 15 percent and Asians by 21 percent.
2 out of every 3 seniors in Washington D.C. are females.
Black females make up the largest group at 42 percent.
The cost of care in an assisted living facility in Washington D.C. costs, on average, $7,838 per month or $94,050 per year. This cost can fluctuate based on a number of factors including the location of the facility, the type of care offered and the level of care that the resident needed.
The cost of care in Washington D.C. is slightly higher than the national average, which is $3,600 per month or $43,200 annually for a single occupancy bedroom in an assisted living facility. There is an expected five year annual growth of 13 percent, which is significantly higher than the 2 percent growth that is being seen around the country.
When you begin searching for an assisted living facility, you will quickly discover there are more than a few options to choose from. To ensure the right facility is found for yourself or an elderly loved one, there are a number of considerations that need to be made.
It is a good idea to schedule a tour of the various assisted living facilities a person is interested in to find the one that best suits their needs. While visiting, be sure to ask the same questions and compare notes. Some questions to ask the staff and residents of the facility include:
What is included in the cost of the facility?
Are there additional fees that need to be paid to take advantage of other services, such as laundry, room service, etc.?
Are there meals included with the cost of the room?
Are there any planned activities for those living in the community?
Is transportation provided for residents?
Asking these questions will help you or your family get a better idea of what the assisted living location costs and what types of services are provided.
Due to the high cost of living in an assisted living location, many people search for ways to save money. One of the best ways to reduce costs is to share a room with another resident. Another option is to choose to live in a larger facility. In most cases, larger assisted living locations will cost less because there are more people to share the cost of care.
For seniors who need a bit of help paying for assisted living care, there are some options. Medicaid may pay for some or all of the cost of this living arrangement, if the senior meets the financial need requirements. There are also veteran’s benefits which is provided for elderly individuals who served in the military. Another option is to purchase long-term care insurance earlier in life. This will help to provide additional funds for seniors when they enter into an assisted living facility. The key is to purchase this insurance long before it is actually needed.
Find assisted living in Washington DC near you.