Assisted Living Budget: A Family's Guide
Fort Wayne News Today | 2 Min News | The Daily News Now! · The Daily News Now!
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Show Notes
A family seeks to create a realistic budget for their dads assisted living needs, exploring options like home health aides and nursing homes. Costs vary greatly by location and facility, with median annual expenses ranging from $70,800 to $111,325. Basic fees often cover meals and housekeeping, but add-ons can increase costs by 20-40%. Funding options include Social Security, pensions, savings, home equity, and long-term care insurance. Medicaid may help with nursing homes but has varying rules by state. To decide, compare facility costs to home care and estimate care needs, building a budget with all income sources and expenses.
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