Understanding Memory Care Costs and Great Tips to Help You Save

Diving into everything you need to know about memory care costs and how to find the right facility to meet your family needs and your budget.

According to the Alzheimer’s Association, more than 5 million Americans are living with Alzheimer’s. By 2050, this number is expected to rise to 14 million.

Alzheimer’s disease, dementia, and other memory loss illnesses can be a very difficult condition to manage and put a strain on you and your family. While there’s no cure, you can get specific help and assistance.

Keep reading to find out more about the type of care available for you or your loved ones and learn about memory care costs.

What Is Memory Care?

Memory care is specifically aimed at those who are diagnosed with memory loss diseases or illnesses. People with Alzheimer’s, dementia, or memory loss illnesses can find long-term care with specifically trained professionals who know how to provide care. 

Memory care isn’t like assisted living, it’s more targeted for memory loss problems. Due to the highly trained professionals, senior memory care isn’t cheap, but it is a good way to ensure you or your loved one is being well looked after.

There are different options to help you or your loved one, depending on their condition.

For example, if it’s still early days and their illness isn’t too restricting, they might feel more comfortable at home. If this is so then you might be able to have some home assistance. A team of memory care professionals may be able to come to your house and help with meals, cleaning, or dressing. 

Alternatively, you or your loved one might need to move into a memory care facility. At these facilities, professionals can provide additional care such as medication management and 24/7 support.

Different facilities have varying features and assistance plans. Many offer community-based accommodation, ensuring you or your loved one can socialize. For example, in the Sarasota area, you can find SaraBella, the local memory care facility. 

What Are the Benefits of Memory Care?

One of the obvious benefits of memory care is the assistance and care plans which are specifically designed for these illnesses. However, there are many other benefits that you might want to think about.

1. Memory Loss Purpose-Built Communities 

Memory loss facilities are purpose-built, meaning that they are safer. People with dementia and Alzheimer’s are at higher risk of injuring themselves or getting lost. However, these facilities are secure and designed to reduce anxiety and confusion in patients. 

The facilities often use color-coordinated hallways and pathways to reduce confusion. Not only does this help to keep patients safe, but it also ensures they can remain as independent as possible.

2. More Advanced Memory Care Plans and Programs

The facilities offer a range of leisure programs and community-based activities. And thanks to the advancement of technology and science, experts are learning more about memory loss.

This means these facilities are able to implement highly concentrated behavior programs to help combat memory loss.

Personalized care is also a big part of memory care. Patients at different stages of memory loss illnesses are able to receive targeted care that can help them.

3. Serves Families

Memory loss conditions don’t just affect the person experiencing them but the whole family and their friends. Memory care facilities provide round the clock care, so families don’t need to worry about their loved ones.

The specialist memory care team can also provide additional information to families about the condition of their loved one. This can be particularly useful for those who are struggling with the illness or want to know what challenges lie ahead.

Memory Care Pricing

The cost of memory care can depend on a range of factors. For example, different states might be more expensive than others and the population density might affect the cost of care.

The amount of help you require will impact the overall cost of the care. Choosing between home care, adult daycare, assisted living, or nursing home care will vary your final bill.

Home Care Rates

Home care rates are worked out on an hourly basis. According to Dementia Care Central, in October 2019 the average hourly home care rate was $22.50. Home care works out well for those in the early stages of memory loss who only need a few hours of care a day. 

Adult Daycare Rates

Adult daycare rates are often billed on a daily basis. There are different types of care available, including social care, health care, and Alzheimer’s day treatment. These different programs cost a similar price, around $75. 

Assisted Living Rates

Assisted living for those with memory care is worked out on a monthly basis. These costs can vary a lot, depending on the state and facilities available.

The average cost of assisted living is $4,050 a month, however it can be much more, as seen in the Northeast or the West Coast, where monthly memory care can cost up to $7,000.

Nursing Home Rates

Patients with later stages of dementia or Alzheimer’s might need to be in a nursing home. At these facilities, patients are able to receive more one on one assistance. Nursing homes charge on a daily basis and the national average for a shared room is $247 a day. 

You might find that some states charge up to $340 a day, while others charge a lot less, around $130 a day.

Use Our Guide to Work out Whether You Can Afford the Memory Care Costs

Although memory care can be more costly than assisted living, it might be a better option for you or your loved one if they need specialized care. Memory care costs are expensive but it does mean that the person with Alzheimer’s or dementia receives the care that they need and their quality of life is improved.

If you found this article insightful, make sure you peruse some of our other articles, all about lifestyle, home, travel, and much more!