What is the cost of memory care in a facility in Colorado?
Identifying that a resident needs memory care if half the battle. The other half, at times the most complicated half, is figuring out how to pay for it. In a world where the cost of living keeps rising, what do we expect Memory Care to cost.
On average, the monthly cost for memory care in a private room ranges from $5900- $7800. The price depends on the facility that is providing the care, the level of care provided and the other amenities offered by that facility. Some facilities offer spa service, trips, even swimming pools while others are more modest but still provide excellent care. When choosing the right facility for your loved one, it is important to ask yourself what would my loved one want right now in their current stage of dementia and what place will offer this to them?
For many big facilities are scary and intimidating
While home like environment will provide a sense of familiarity and safety. There are residents, however, that are more successful in bigger facilities as they have more place to walk around and do not feel confined. Recognizing the high cost associated with memory care, many facilities will offer various programs to help pay for it. Find more information at https://www.alz.org/
Spend Down
“Spend down” is a term often used by a facility that will accept private pay funds for a certain time and then will be able to switch over to government funding such as Medicaid and or Innovage. Often the time period is around two years and then the resident has to move to a shared room but still remains in a familiar environment. If this is a program you need to finance the cost of memory care sharing this at tours assures that the place chosen will be able to accommodate.
Assisted Living on Broadway offers the ability to spend down to both Innovage and Medicaid. After two years of private pay and having a shared room available, Assisted Living on Broadway is able to take the reduced rate of government funding and continue to take care of the resident.