Cost of senior memory care

All types of senior care are now increasing in demand as the baby boomers generation is aging. One of the most leading diseases of today among all adults is the Alzheimer’s disease. It is also one of the most crucial disease and demands intensive care for the one who is suffering from it.

The cost of Alzheimer’s care or memory care for the seniors is costly and can be heavy on your pockets. You must in that case know the average cost of the spending, which is early $60,000 a year. In case of a private room in a nursing home, the cost can go up to $82,000 a year. If you are opting for assisted living for someone having Alzheimer’s or dementia, the cost would be between $50,000 to $55,000 annually.

It is always a better idea to plan for this medical need and expense way ahead. Planning will help take the load off financially. Check for early stage symptoms and get them checked for the same. The earlier you know about the disease, the better you can plan for future care and cost.

The costs that will be incurred will be for Alzheimer’s treatment and care will not be completely covered in medical or other insurances. You are likely to pay for the ongoing medical treatment, equipment, safety expenses, prescription drugs, personal care supplies, and adult day care services along with in-house care services, or if you are opting for full-time residential care services, that cost would also be incurred.

The cost again varies from based on various demographics. It depends on the area you live in, the type of care you select, and the services you take.

Before you get on with the services, you can take professional assistance from financial advisors who can guide you through all the expenses along with the tax returns you can claim. Better and advance planning will always help you with the memory care and cost.