Paying for Senior Care

How Much Does Assisted Living Cost?

The cost of assisted living at some Laureate Group communities can start as low as $3,445 per month, or $41,340 per year. Considering that the average length of stay in assisted living is about 2.5 years, consumers are making significant commitments that may exceed $100,000 when added up over several years. Since median means middle, some people will pay more over the course of their stay and some people will pay less.

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Genworth Survey: 2018 Cost of Assisted Living

If you have just begun your search for assisted living, you may be surprised at the monthly cost. It can be quite a sticker shock at first, we know, but it may be helpful to consult an objective source when considering the fees for assisted living in comparison to other options for care. Since 2004, Genworth Financial has surveyed long-term care costs. See the 2018 details here.

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The "Affordable Care Act" Is Not So Affordable

You probably wouldn’t be surprised to learn that the Laureate Group employs over 600 people. Although we have many professional and management employees, the majority of our employees are service workers. Our service workers are the heart of our business. Before the Affordable Care Act passed...

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Be Open with Assisted Living Communities about Money

According to the 2013 Genworth Financial study, the median cost of private accommodations in assisted living in Wisconsin is $3,538 per month.Although a person’s financial status is a very private matter, it is very important for consumers to share information regarding the state of a resident’s finances with the facility for planning purposes. Over the course of years, a lot can change.

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Financial Options for Senior Housing Services

Many adult children are unaware of their parents’ financial situation. So when a parent suddenly needs to make the move into an assisted living community, figuring out how to finance the transition can be challenging. Even if your parent is in a very comfortable financial situation, you might need to explore some interim financing options until their funds become available.

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Why Some Adult Children Cannot Be Caregivers

Both working and non-working adult children provide care to their parents, but the report findings on the financial costs of caregiving on working adults, is eye opening. These are the adult children who find ways to take on direct care responsibility. In terms of lost income, the cost of providing care for parents comes at the exact time these adult children are shouldering expenses for their own children and need to be saving for their own retirement years.

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The Reality About Family Care Funding Promises

More and more people have heard about Family Care since it was proposed in 1998. Family Care is a complex government entitlement program where consumers have many choices. The program provides professional staff to guide older adults and their families through individualized health and long term care planning, and provides financial support to individuals who qualify.

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Paying for Senior Care: NPR Report

The series Family Matters: The Money Squeeze produced in 2012 on NPR’s Morning Edition touched on such important topics about caring for older adults. Listen to the report from May 8th Long-Term-Care Insurance: Who Needs It?

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