Knowing how assisted living operates and how communities charge their clients is essential. Most assisted living and memory care facilities use three common billing structures. Understanding these models can be helpful for families when negotiating with care providers. Keep reading to expand your knowledge of the cost of senior living communities.
3 Pricing Models You Must Know Regarding Cost of Senior Living Communities
1. All Inclusive Model
This Model is like a one-stop shop for assisted living costs. It covers rent, meals, housekeeping, laundry, transportation, and more in one monthly bill. But here’s the catch – “All-Inclusive” can vary depending on the place. For instance, some spots might charge extra for services like incontinence care or help with managing medications. Also, keep an eye out for any additional expenses you might rack up, like getting your hair done at the on-site salon or purchasing items from the community store.
The “All-Inclusive” Model aims to make costs straightforward and reasonable. It’s a popular choice because it’s easy to understand, and you know what to expect on your bill each month. Such transparency in pricing is always helpful.
2. Level Of Care Model
Also known as the “Tiered Care” Model, it sorts out assisted living payments into 3-4 levels, each offering different services. Each level gives you a set number of care hours per month, or “points,” as they call it. You’d be in the lowest and cheapest tier if you don’t need much care. But you’d be in the top tier if your care needs are more significant. They might have unique tiers like memory care, or people with dementia could be in the regular tiers based on their condition.
When you move into an assisted living facility, they assess you to determine how much care you need and check on you regularly to ensure it’s still right. About half to three-quarters of your monthly bill goes towards non-care expenses.
Remember that the monthly bill might suddenly increase if the resident needs more care.
3. Fee For Service Model
In this fee-for-service Model, assisted living residents pay a set monthly rent fee or rent along with meals. Any extra services they use incur an additional charge, like paying for things separately. You might have to pay extra for things like help with medication, either by the hour or with a fixed fee. This Model isn’t as standard in Memory Care communities, which are homes specifically for people with Alzheimer’s.
Even though this Model closely links fees to the services you use, the downside is that charges can vary a lot from month to month, which can be unpredictable.
The prices of senior living communities in Norcross, GA, can vary. Enrich519 is well-known for its simple billing system and excellent service. To learn more about their billing, contact Dennis Stamey!
