Cost of Memory Care: What Families Need to Know

You're not alone in looking into the cost of memory care in Venice, FL for a loved one. Many families face this challenge when a family member is diagnosed with dementia. It's normal to feel overwhelmed and even a bit scared about what's ahead.

In Florida, memory care costs can vary quite a bit depending on where you live and what kind of care your loved one needs. On average, you can expect to pay around $6,630 per month for memory care. This might seem like a lot, but it covers many services to help your loved one stay safe and comfortable.

To better understand these costs and how they can vary, let's take a closer look at what memory care entails and how it differs from other types of senior living options. This will help you make informed decisions about the best care for your family.

Assisted Living vs Memory Care

While they might seem similar at first, they have some important differences. Memory care offers more specialized support for people with conditions like Alzheimer's or other forms of dementia. In assisted living, you'll find help with daily tasks like dressing or taking medications, but you'll still have a lot of independence. Memory care goes a step further, providing extra security and staff trained specifically to help with memory issues.

Moreover, the layout of memory care communities are designed to be easier to navigate, with features that help prevent wandering. Inside, you'll find more structured daily routines and activities that are tailored to help with memory and cognitive skills.

When it comes to cost, memory care is typically more expensive than assisted living in Venice, FL. The higher price reflects:

• The specialized care
• Increased security
• Additional staff training required

However, both options can provide peace of mind for you and your family, knowing that professional care is available when needed.

Things That Influence The Cost of Memory Care

Where the community is located plays a big role in how much it will cost. Memory care in big cities like Miami or Orlando often costs more than in smaller towns. This is because everything, from property to staff wages, tends to be pricier in urban areas.

The level of care your loved one needs also impacts the cost. If they require more help with daily tasks or have complex medical needs, you might pay more. Some communities offer different care levels, so you can choose what fits best. The amenities and services provided can change the price too. For example, spaces with fancy dining options or special therapy programs might charge more.

The size and reputation of the community can impact memory care expenses as well. Larger communities might offer more services but could be more expensive. On the other hand, they might have better deals because they care for more people. Some places charge one price for everything, while others let you pick and pay for specific services. This can make a difference in your monthly bill.

Financial Planning for Dementia Care Costs

Your first move should be to take a close look at your family's financial resources and explore all available options for assistance. Let's explore some ways to you can manage paying for senior care and ensure you're making the most of your resources.

Assessing Current Financial Resources

Start by gathering all financial documents and creating a complete list of assets and income sources. This includes looking at:

• Savings accounts
• Retirement funds
• Investments
• Property your loved one owns

Don't forget to include regular income like Social Security benefits or pensions. You'll also want to review any insurance policies (especially long-term care insurance) that could help cover memory care costs.

By taking stock of these resources, you'll have a better idea of what you can afford and how long you can sustain the costs of memory care. Keep in mind it's okay to ask for help from a financial advisor or elder law attorney if you need guidance in understanding and organizing these financial details.

Exploring Financial Assistance Options

Once you've assessed your resources, you might find you need additional help to cover memory care costs. Florida offers several programs and benefits that can ease the financial burden of memory care.

One option to look into is the VA Aid and Attendance benefit, which provides extra money to veterans and their spouses who need help with daily activities. You might also qualify for the Optional State Supplementation program, which gives cash assistance to help pay for care in assisted living or memory care communities.

Don't overlook local resources, either. Some counties in Florida have special programs or grants for senior living affordability. It's worth reaching out to Area Agency on Aging to learn about these options and get help applying. Exploring these assistance programs early can make a big difference in your ability to afford quality memory care for your loved one.

Tips to Manage Memory Care Costs

If your loved one doesn't need full memory care services right away, starting with in-home care or adult day care could help stretch your budget. Don't forget to explore tax benefits too.

Some memory care expenses might be tax-deductible as medical expenses, which could provide some financial relief. Lastly, ask communities about any move-in specials or discounts they might offer. Some communities in Venice, FL provide reduced rates for the first few months or waive certain fees, which could help you manage initial costs better.

Create a Comfortable Future for Your Loved One

Finding an affordable cost of memory care for your loved one in Florida is a personal journey. As you weigh your options, it's essential to think about what will make your loved one feel most at home and supported.

Aston Gardens at Pelican Pointe in Venice, FL sits on 37 acres of lush tropical greenery with walking paths, providing a peaceful setting that helps residents connect with nature. Additionally, our SHINE Memory Care program is designed to provide personalized care and engagement, with our recent remodel ensuring our community is both modern and comfortable.

To truly experience the community and see if it's the right fit for your loved one, book a tour.