COSTS OF ASSISTED LIVING
Four categories of cost are associated with assisted living: (1) room rent, (2) care fee, (3) a residency fee, (4) other charges.
Room Rent
Room rent typically covers the cost of the building and grounds, employee wages and benefits, dining services, equipment, utility costs, insurance, upkeep and maintenance. The room rent charge is generally a fixed amount, which is known well ahead of signing a contract.
At Academy Villas, our room rents cover many charges that other facilities may bill as “other charges” (see below). The amenities page describes services and amenities that are covered under room rent.
Care Fee
Care Fee is a variable charge depending upon the level of staff time and resources required to assist the resident in living well to the fullest extent of his or her capabilities. Thus, a guest is assessed for the exact level of care required after she or he has been residence for a week or two.
Academy Villas staff makes every effort to establish a reasonable and proper care fee. We use an industry-approved form to assess resident needs and establish care tiers. We share the completed form with the resident and/or family members, and it is signed by the properly designated party.
Residency Fee
Residence Fee is a one-time charge associated with the initiation of care, such as health and medical evaluations, development of a care plan, setting up permanent records that are maintained during residency, and preparing the room for occupancy.
The residency fee at Academy Villas is not a money maker, but is based on a careful assessment of costs associated with a new resident moving in.
Other Charges
These can cover many things: a telephone, cable TV, transport to appointments, supplies for the room and resident, medical supplies, charges for special services, and so on. Unfortunately, many facilities add a percentage mark-up to these charges to cover the cost of purchasing, storing and distributing items.
Academy Villas makes every attempt to keep the “other charges” as low as possible. We include in the room rent what many other facilities bill as “other charges”. So there are no surprises when the bill comes. Moreover, we do not add a mark-up or surcharge to these other charges.
SUBSTANTIAL DISCOUNTS IN BOTH BUILDINGS
WHAT DOES ACADEMY VILLAS COST?
The extensive number of amenities and high staff to resident ratio in the Villas might suggest that the cost of Academy Villas is high. This is not the case. As a Non-Profit organization, we keep the residents’ costs are in line. We insure that a huge percentage of our revenue is returned to care and services rather than to profit.
The size of the room at Academy Villas determines its cost. The rent charge varies from the low $3,000s to the mid $4,000s per month. Two person, two-room suites range from the low to the high $6,000s. For more information, please contact us.
COSTS OF STAYING AT HOME OR MOVING TO ASSISTED LIVING
People often believe that assisted living costs considerably more than living at home. However, this may or may not be true.
If one needs supportive care, the cost of remaining at home includes both the cost of home care as well as covering all the expenses of home ownership or paying rent. In-home care can quickly become very expensive–particularly if it exceeds more than six hours a day. Further, it becomes even more expensive if the level of in-home care needed is on a par with the level of care offered in assisted living residences. One should consider the following costs of in-home care in comparing assisted living to remaining at home:
- Mortgage or rent
- Property taxes
- Home Insurance
- Utility charges, including TV services
- Maintenance and upkeep
- Food shopping and preparation
- Entertainment
- Automobile expenses
- Any costs associated with in-home healthcare
Assisted living is often no more, and sometimes less than the cost of remaining at home. It offers many advantages that are not available at home, including enjoyable social interactions; regular entertainment and activities; tasty, nutritious meals; and careful, continuous, attention to the residents’ health and well-being.
For more information on financing assisted living, see:
http://aplaceformom.com/financial-assistance