Everything You Need to Know About the Cost of Memory Care: A State-by-State Guide

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Housing, meals, and 24-hour care for seniors with dementia are standard in memory care facilities. At a minimum, memory care communities should offer a safe, secure, intentionally designed environment for their residents, but most communities also provide memory-enhancing therapies and specialized opportunities for socialization. Note that the price of an individual memory care community doesn’t necessarily reflect the number of amenities or quality of care offered.

While features and amenities vary, memory care facilities typically offer:

• 24-hour care and supervision with a low patient-to-caregiver ratio
• Assistance with bathing, dressing, and other activities of daily living
• Complete housekeeping and landscaping services (to reduce resident stress)
• Emergency monitoring, including a protocol or system to monitor for wandering
• Medication management
• Independent and group activities specific to memory care
• Three nutritious meals a day, plus snacks
• A higher staff-to-resident ratio than assisted or independent living communities
• Transportation to appointments, appropriate events, etc.

It’s important to note that memory care can overlap with assisted living and can even be offered in specialized wings or areas of assisted living communities. The goal is to help residents retain as much independence as possible. Seniors in need of constant medical supervision are more likely to find the care they need in a nursing home.

For caregivers to clearly understand costs and avoid surprises later on, Moore said to ask the following questions.

1. What’s the price? While a base rate mentioned above will likely apply, specific care charges can change month to month depending on factors like time of year, vacancy, and staff availability.
2. What’s included? What’s not? Many communities charge an all-inclusive monthly fee, but some have different prices based on care needs. Be sure to clarify the care and services included in the price.
3. How much are the various floor plans? Most memory care communities have studio or shared room options. Some offer one- and two-bedroom options for a higher price.
4. Does the price increase annually? Memory care prices typically increase 3% to 8% a year.
5. Is there a community entry fee or deposit? Many communities charge a one-time community fee, ranging from $1,000 to the cost of your first month’s rent. This fee covers the extra services and one-on-one time needed to help a new resident adjust to the community.
6. Are there any move-in incentives? Many communities offer discounts, such as:
   • End-of-year rates. Deals are common around the holidays, when fewer people want to move.
   • Rate lock-ins. Some communities may offer to freeze your rate — called a “rate lock” — for two years or more.
   • Waived community entry fee. This initial payment may be eliminated as an incentive.
7. What’s the maximum amount of care offered? Your loved one’s care needs will be evaluated as part of the move-in process. However, these may change over time. Knowing the maximum price and care options can help you plan accordingly.
8. How often will care plans be reviewed? If your loved one goes to the hospital, or if their health changes, they may need different services and treatments. A plan outlining required care is important to your relative’s health — and it can affect costs.
9. What happens if our family can no longer pay? Is there a grace period if unforeseen financial difficulties arise? Does the community provide any resources? “In most cases, the family and community will monitor financial resources together,” Moore said. “If the family isspending down during the look-back period, additional options may be presented. When funds are exhausted, the loved one may need to be relocated to a community that accepts public assistance, like Medicaid.”
10. Which activities and amenities are included in the cost? Some communities may offer additional, specialized activities in addition to those regularly scheduled on their events calendar. Your family may have to pay extra for things like golf outings, aqua therapy, or more extensive crafts.
11. If your loved one chooses a nonprofit community, is there a foundation that can provide assistance once your funds run out? Sometimes, nonprofit communities partner with organizations or foundations that can help long-term residents cover the cost of care.
12. Will I need to purchase any specialty items? Ask if there are any items related to your loved one’s care that you’ll need to pay extra for. “Many communities still require you to pay for personal items like incontinence supplies and personal hygiene items,” Moore noted.

Read related article:VA Memory Care Resources for Veterans

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