The Cost of Assisted Living in New Jersey – What You Should Know

When choosing an assisted living community, cost is definitely a major consideration. Although more expensive than other senior care communities, don’t assume that these facilities are beyond reach for most people with average incomes. More importantly, think of it as simply a shift of expenses from one living arrangement to another for your seniors.

Each assisted living community varies according to the amenities and care services, so these factors influence costs. According to some industry statistics, the median rate for a private one-bedroom apartment in an assisted living residence in 2011 was $3,300 per month. Adult Care Advisors can provide you with sound advice on how to determine costs and find affordable assisted living in New Jersey.

Assisted Living Communities – Medicare, Medicaid, and More

Paying for senior care communities can be a challenge for many, but with adequate planning, assisted living can be an affordable option your senior.

• Medicare and Medicaid: Unfortunately, Medicare doesn’t cover the cost of enrolling at an assisted living community. Medicaid, on the other hand, may offer financial help towards assisted living costs in some cases.
• Reverse Mortgage: This enables senior homeowners, aged 62 and above, (especially those with significant equity in their homes) to get some funds out of their homes with no tax penalties.
• Veteran’s Aid and Attendance Pension: Some senior citizens may be eligible for the Veteran’s Aid and Attendance Pension program. This allows financial aid to those who qualify and are in need of assistance with activities of daily living such as eating, bathing, dressing, etc.

Get in touch with experienced consultants at Adult Care Advisors to discuss the cost of assisted living in New Jersey and how you can make this a feasible option for your senior loved ones.