SENIOR HOUSING OPTIONS
INDUSTRY INSIGHT
SENIOR CARE
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SENIOR HOUSING OPTIONS
With the future of Social Security in question, more and more financial planners are encouraging consumers to save for their retirement. But does that plan also include monies for your long-term care?
Every older adult is different, so the senior housing choice that’ s right for one may not be suitable for another. Fortunately there is a broad array of housing options available. The key to making the best choice is to match your housing needs with your lifestyle, health, and financial situation.
STAYING AT HOME has the advantage of keeping you in a familiar place where you know your neighbors and the community. There is a wide range of home care services that can help you maintain your independence in your own home. Non-medical home care services include light housekeeping, bathing and companion services. Rates for these services generally run between $ 20 and $ 30 per hour.
Staying at home may be a good option if:
• You are still able to take care of yourself, or have a close network of nearby family, friends, and neighbors to help.
• Your home can be modified to reflect your changing needs.
• Your physical and medical needs do not require a high level of care.
INDEPENDENT LIVING is any housing arrangement designed exclusively for seniors and includes retirement communities, retirement homes, senior housing, and senior apartments. Senior housing communities provide meals, housekeeping, laundry, activities and sometimes transportation services. Their rates run between $ 1,500 and $ 2,800 per month depending upon the type of community, location and amenities you select.
You may want to consider independent living if:
• You’ d like to get rid of the burdens of home ownership.
• You like the idea of socializing with peers and having activity options nearby.
• You are still able to care for yourself, and do not need assistance from others.
PERSONAL CARE is a housing option for those who need help with some of the activities of daily living, or help with medications. Most facilities have a group dining area and common areas for social and recreational activities. Personal Care communities provide assistance 24 hours a day with all activities of daily living including meals, activities, housekeeping, medication administration, laundry and sometimes transportation. The average rate is $ 2,500 – $ 5,500 per month. Costs vary according to the level of daily help you require, the amenities offered and the community’ s location.
A Personal Care community may be a good choice if:
• You can benefit from supervision and assistance with your daily personal care needs.
• You need medication administration or oversight for medical conditions.
• You enjoy daily socialization, activities and programs.
NURSING HOME CARE is the highest level of medical care for older adults outside of a hospital. Nursing Homes provide nursing care, rehabilitation and physician services 24 hours a day. While they provide assistance with activities of daily living, they also provide a high level of medical care. A licensed physician supervises each resident’ s care, and a nurse or other medical professional is almost always on the premises. The monthly cost for long-term skilled nursing care runs from $ 8,500- $ 11,000 per month. A Nursing Home may be a good choice if:
• Both your medical and personal care needs have become too great to handle at home or in another facility. This may be due to a recent hospitalization or a chronic illness that has gradually been worsening.
• You need a higher level of care or rehabilitation services after a hospitalization.
When deciding on the senior housing plan that’ s right for you, it’ s important to select the type of long-term care that best suits your medical and financial needs both today and in the future.
For more information on how to plan for your future long-term care and the senior housing options available in the Pittsburgh area, contact Juniper Village at Forest Hills at 412.244.9901.
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