Comparing Costs of Assisted Living vs. Living at Home
Are you or a loved one having some trouble living independently at home? Are you starting to consider assisted living as an option? If so, you likely want to find the right care, but you also want to know how much each option is going to cost before you make any final decisions. Comparing costs can help determine a final decision.
Complete this cost comparison worksheet to discover the cost of living at home compared to living at an assisted living community in Ohio.
Step 1: Comparing Costs of Living at Home to Assisted Living Services
Choosing to move to an assisted living community may initially give you sticker shock as you see the costs for the first time. But while assisted living may seem like the more expensive option, you might be surprised to learn that the cost of living at home are often comparable.
An assisted living community offers medical and living assistance, but it’s also focused on providing a social environment with planned activities, physical wellness programs and other convenient support services that help seniors continue to enjoy active, fulfilling lifestyles.
Average Assisted Living Costs in Ohio
Exact assisted living costs depend on the community and what services you need. However, Genworth Financial estimates the 2020 median monthly cost of a Columbus, Ohio assisted living community at $4,063.
Cost Comparison Worksheet
Use the worksheet below to determine how much you or your parent is already spending each month while living at home.
|At-Home Expense (Monthly)||Assisted Living Community|
|Telephone and Cable||Included|
|Outdoor Upkeep (yard work, snow removal, etc.)||Included|
|Transportation (gas, insurance, parking fees, etc.)||Included|
|Emergency Alert System||Included|
|Recreation and Leisure||Included|
|Total Monthly Expense||$||$ *|
*Fill in this box in after discussing the average monthly fees with an admissions counselor from the assisted living community you’re considering.
One thing to note before you move on to step 2: the included services and amenities may vary by assisted living community, but the items listed above are commonly offered at most communities as a part of the monthly fee.
When you’re choosing an assisted living community, don’t be afraid to ask which services and amenities are included in the cost and which are extra. For example, three daily meals may be included, but extras like hairdresser appointments might not be.
Step 2: Factor in In-Home Care Costs
If you or a loved one are experiencing health changes that make it harder to live on your own, it’s likely you’ve already hired outside care.
For example, you may need help getting dressed in the morning or bathing. You may need help with the housework or may need someone to drive you to appointments and social events. You may not be able to provide those things yourself — and that’s okay.
At-home care services come at different costs, depending on what assistance you need and how often you need it.
In addition to the costs you filled in above, you’ll need to take into account the cost of at-home care services. Here are some examples of the average costs of different types of in-home care, using Columbus, Ohio’s 2020 median estimates:
|Homemaker Services||Home Health Aide||Adult Day Health Care|
Again, these costs will vary depending on how many hours the aide is at your home, what type of services they’re providing, and so on. These numbers can help give you a baseline as you begin to research your options..
Step 3: Look at Your Options for How To Pay for Assisted Living
Typically, assisted living communities use a monthly fee structure that’s either all-inclusive or based on levels of care.
- All-inclusive fees mean that the monthly fee covers all services in the community.
- Levels of care fees or care services fees mean that residents’ fees are based on the level of care they need.
The services and activities included in the monthly fees vary by the community. To give you an idea of what might be offered, MacIntosh assisted living care communities provide the following services and amenities:
- 24-hour professional nursing staff
- Private apartments
- Emergency call system
- Housekeeping and linen service
- Restaurant-style bistro menus prepared by chefs
- Social and entertainment activities
- Health and wellness monitoring
- Medication management
- Assistance with bathing, dressing and grooming
- Physical, occupational and speech therapy
- Podiatry, dental and optometry services
- Psychological services
- Furnished respite suite for short-term accommodations
Will My Insurance Pay For Assisted Living?
Many people wonder if their insurance will cover assisted living services. It depends on your insurance. For example, if you have long-term care insurance, it may cover some or all of your assisted living expenses. Additionally, some insurance will cover rehab or home health services in assisted living if they become necessary.
VA benefits can help pay for assisted living. Unfortunately, Medicare does not pay for assisted living. Many people pay for assisted living privately. Ultimately, it’s a good idea to talk to your insurance provider if you have questions about assisted living coverage.
The Cost of a Columbus, Ohio MacIntosh Assisted Living Community
We know the world of assisted living can be confusing. We’re here to help by providing you with clear answers from our senior living experts.
We’ve also created a guide to assisted living to help you on your way to finding the best place for you or your parent. Click below to download the guide and learn more about assisted living.