“$5,400 a Month for Assisted Living Is the New Reality—How Families Are Making It Work,” by Sabrina Karl, Investopedia
Quote:
“Assisted living now averages about $5,400 a month, with costs varying widely by state and room size. Costs are still rising—up 4.4% from last year—adding pressure for families planning or paying for care. Most people pay with their own income and assets, often combining savings, home equity, and insurance to cover costs.”
LTC Comment, Stephen A. Moses, President, Center for Long-Term Care Reform:
Don’t forget Medicaid, which covers 18 percent of all assisted living residents and for which income and asset eligibility rules are, to say the least, loose for the middle class and affluent. To make sense of what ails LTC, read the Paragon Health Institute’s “Long-Term Care: The Problem” and “Long-Term Care: The Solution” and watch this “virtual LTC event” featuring age wave visionary Ken Dychtwald and leading LTC researchers. To find ample private funds for LTC, check out “Medicaid’s $100+ Billion Leak.” For what not to do, see “Medi-Cal-amity: California’s Reckless Expansion of Medicaid Long-Term Care to the Affluent.” Much more on long-term care here.