Senior living communities are designed to provide a safe, comfortable and supportive environment for older adults. While some communities may offer medical attention when needed, nursing homes are better suited for seniors with complex medical needs, such as recovery after surgery or wound care. Residents in nursing homes often require round-the-clock medical care and monitoring, along with assistance with activities of daily living (ADLs). This level of care can make nursing homes more expensive compared to other senior living options.
Sometimes, finding a vibrant and supportive community for a loved one can be a deeply emotional and stressful process. You don’t have to do it all on your own. We’re here to walk with you every step of the way. In this blog, we break down nursing home costs and compare them to senior living options, to help you plan more effectively for your loved one’s care.
Differences Between Nursing Homes And Senior Living
While all senior living options are designed with seniors in mind, they each offer different services and levels of care, depending on your loved one’s needs. There are some key differences between nursing homes and other senior living options.
- Nursing homes are designed for individuals with complex medical needs that can’t always be handled in senior living communities. If a person has serious health issues or chronic conditions, like an injury or a severe mobility problem, a nursing home might be the best option for them. Nursing homes typically have licensed medical professionals and caregivers who can provide round-the-clock care and manage complex medical needs. On the other hand, most senior living communities offer a wide range of care levels with options to personalize support services to each resident.
- While both options provide a variety of tasty meals tailored to meet the unique nutritional needs of older adults, the environment and lifestyle they offer can differ significantly. Nursing homes typically prioritize health and medical care, resulting in a more structured daily schedule to help ensure proper treatment and support. Most senior living communities, however, have amenities and services, like recreational activities, fitness programs and social events.
- When it comes to independence and autonomy, residents in nursing homes often have limited freedom because the environment is designed to be more focused on care. In contrast, people in senior living communities enjoy more freedom and autonomy. They can come and go as they please, choose the activities they want to participate in, and maintain a greater sense of independence.
- While both nursing homes and senior living communities aim to provide comfortable accommodations, there are some key differences. In most cases, senior living communities offer cozy, condo-style apartments or standalone homes to help promote a sense of independence for residents. In contrast, nursing homes typically feature a more clinical setting. This arrangement is designed to allow for closer monitoring to help ensure that residents receive the necessary support at all times.
- Social interaction is another key difference. While some nursing homes may offer social activities for residents, they’re usually designed for individuals who need specialized medical care, which can limit these opportunities. Senior living communities, however, typically provide numerous enjoyable, accessible activities and events to help make residents’ lives exciting.
- Due to the high level of medical care provided, nursing homes tend to be more expensive compared to senior living options. Senior living communities, on the other hand, vary in cost based on the level of care and amenities offered. For instance, independent living is typically less expensive than assisted living.
Overview Of Nursing Home Costs
Understanding the costs associated with nursing home care can be essential for planning your loved one’s care. According to the Genworth 2021 Cost of Care Survey, the average monthly cost of nursing home care in the United States is around $7,900 for a shared room and $9,000 for a private room.
Here’s a brief overview of what to expect:
Average Nursing Home Cost Per Month Across The United States
When thinking about possible care options for their family members, most families often find themselves asking the question, “How much does a nursing home cost?” Here’s a detailed breakdown of how much you can expect to pay for your loved one’s nursing home costs in the United States, according to SeniorLiving.org:
Semi-Private Room
Private Room
Factors Influencing Nursing Home Costs
Understanding what influences nursing home costs can help you make informed decisions about your loved one’s care. Here are some key factors that may influence cost of nursing homes:
- Location: The geographical area where the nursing home is located can play a significant role in determining the cost of care. Typically, nursing homes in areas with high living costs tend to be more expensive compared to those in less expensive areas.
- Level of care: Your loved one’s care needs can also affect the cost of nursing home care. Basic care, which includes assistance with activities of daily living (ADLs), is typically less expensive compared to specialized medical care for conditions like Alzheimer’s disease or wound rehabilitation.
- Community’s amenities and services: Some nursing homes offer additional amenities, such as private rooms, recreational activities and gourmet dining options for their residents. While these extras can enhance comfort and quality of life for your loved one, they often come at an added cost.
Private Vs. Semi-Private Rooms
When considering senior care options, the choice between private and semi-private rooms can have a significant impact on the cost of nursing home care. While private rooms may provide enhanced privacy and personalization, this option typically comes at a higher cost due to the dedicated space and amenities.
On the other hand, semi-private rooms can provide opportunities for social interaction, which can be vital for mental and emotional well-being as we age. When choosing housing and floor plans for a loved one, it’s essential to carefully consider their unique needs, as well as available resources.
How To Pay For Nursing Home Care
Paying for nursing home care can be a significant financial undertaking for families. Fortunately, there are several practical options you can explore to help manage nursing home costs, including:
- Long-term care insurance: A long-term care insurance policy can help cover a significant portion of your loved one’s nursing home expenses. However, coverage may vary widely between policies, so it’s important to review the specific policy to understand exactly what it covers.
- Personal savings and investments: Personal savings, retirement funds or investments can be viable options when it comes to covering nursing home costs.
- Medicare and Medicaid: Medicare may cover short-term stays for skilled nursing care following a hospitalization, but it typically doesn’t cover long-term nursing home care. Medicaid, however, can provide financial assistance for individuals who meet specific eligibility requirements.
- Veterans benefits: Eligible veterans and their spouses may get financial assistance through the Department of Veterans Affairs (VA).
- Family contribution and support: Some families may rely on contributions from family members to help pay for costs.
- Payment plans and financing options: Many nursing homes offer payment plans or financing options to spread out the cost of care over time. Consider exploring these arrangements to find a payment schedule that best fits your financial situation.
Alternatives To Nursing Homes
If a nursing home doesn’t seem like the right fit, there are several other options that can provide the necessary care and support for your loved one, such as:
- Assisted living communities: Assisted living can be an excellent option if your family member needs some help with activities of daily living, like bathing, dressing and managing medications.
- In-home care: In-home care provides a fantastic option for seniors who prefer to receive assistance in the comfort of their own homes. While in-home care can be tailored to your loved one’s specific needs, costs can quickly add up, especially if round-the-clock assistance is required.
- Continuing Care Retirement Communities (CCRCs): As our loved ones age, it’s normal for their needs to change with time. CCRCs offer a wide range of care levels, from independent living to skilled nursing care, allowing residents to receive assistance in the same community, even if their care needs change.
- Hospice care: Caring for a loved one with terminal conditions can be a deeply emotional and stressful journey. Hospice communities provide support and comfort for people with terminal conditions and their families. Most hospice care communities offer pain management and symptom relief to help improve comfort and quality of life.
- Family caregiving: Family caregiving can be a great option for families that have the ability and resources to care for their loved one at home.
How To Choose The Right Option For Your Loved One
With a number of available options to consider, choosing the right care for a loved one can be overwhelming. Here are some practical tips to help you choose the right care option:
- Understand your loved one’s needs: Typically, your loved one’s needs dictate the type of senior care they require. Does your family member need help with activities of daily living (ADLs), like bathing and dressing, or do they require more specialized medical care? Make a list of their needs, including medical, emotional and social aspects.
- Consider their preferences: Does your family member prefer to stay at home, or are they open to moving to a community setting? It’s important to discuss their wishes with them and involve them in the decision-making process as much as possible.
- Tour a few communities: Touring a few communities can help you make a more informed judgment. If possible, read reviews or speak with other residents and their families to hear what they think.
- Plan for the future: When caring for a family member, it’s vital to consider their long-term needs. Some options, like CCRCs and senior living communities, can offer a wide range of care levels, which can be beneficial if your loved one’s needs change over time.
- Seek professional advice: While caregiving can feel incredibly rewarding, it can become stressful, especially for untrained family caregivers who have to juggle multiple roles. If that’s the case for you, consider consulting with a geriatric care manager or a social worker. They can provide valuable insights and help you find the community that best suits your loved one’s unique needs.
Learn How Much Senior Living Costs Near You
Senior living communities provide a comfortable and supportive environment for older adults. While it’s hard to put a price tag on your loved one’s care, it can be useful to understand how much senior living costs. Our cost calculator helps you get a clearer picture of what to expect financially and find the option that best fits your specific situation and budget.
See The Costs Of
Senior Living Compared To Staying In Place
We created this senior living calculator to help you determine the costs of senior living compared to remaining in place.
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(The National Average Cost Is $3,360-5,760 Monthly*)
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*This information is intended to aid in the evaluation and the decision-making process related to senior living alternatives. It is based on information and assumptions provided by you and information compiled from multiple accredited sources for comparison purposes. The calculations and comparisons provided should not be construed as financial, legal or tax advice. In addition, such information should not be relied upon as the only source of information.
FAQs About Nursing Home Costs
We understand planning for a family member’s nursing home care can often be a difficult and deeply emotional decision. We’re here to help you ensure your loved one receives the help and support they need.
To help you make an informed decision about your loved one’s care, here are some questions that families often ask about nursing home costs:
1. How much does a nursing home typically cost per month?
On average, a nursing home can cost anywhere from $7,000 to $10,000 per month, depending on various key factors. When considering a nursing home for your loved one’s needs, it’s important to get a detailed breakdown of what’s included in the monthly cost. Some services, like physical therapy, assistance with activities of daily living (ADLs) or extra amenities may be billed separately.
2. Are there any additional fees beyond the monthly rate?
In addition to the monthly rate, you might encounter additional fees if your family member requires specific services or amenities. These can include medication management, physical therapy sessions, specialized dietary plans and transportation services.
3. Does insurance cover nursing home care?
Health insurance typically doesn’t cover long-term nursing home care. However, if your loved one has long-term care insurance, it may help cover a portion of the costs, depending on their specific policy. While Medicare may cover short-term stays in nursing homes for rehabilitation after hospitalization, it typically doesn’t allow extended stays. Medicaid, on the other hand, can help cover some long-term care costs for those who qualify, but there are some strict eligibility requirements.
4. Does Medicaid pay for nursing home care?
In some cases, Medicaid can cover nursing home costs for low-income individuals who meet specific financial and medical criteria. Medicaid programs can vary from state to state, so it’s essential to understand the specific eligibility requirements in your area.
5. Are there ways to reduce care costs?
Yes, there are several key strategies that may help reduce nursing home costs. For instance, your family member might consider sharing a room with another resident instead of opting for a private room. Additionally, exploring different communities and comparing prices can help you find more affordable options.
6. Can veterans receive assistance with nursing home costs?
Yes. Some veterans may be eligible for assistance through the Department of Veterans Affairs (VA). The VA offers various programs, including the Aid and Attendance benefit, which provides financial assistance to eligible veterans.
Senior Living With StoryPoint Group Communities
At StoryPoint Group communities, we understand that every individual’s journey through their golden years is unique, and that’s why we take pride in meeting them right where they are — tailoring our care and support to their specific needs. Our vibrant and supportive communities are designed to foster happiness, laughter and cherished moments. To learn what it’s like to live with us, contact us or call us today at 1-844-275-9990. We can’t wait to get to know you!
