Join the forum discussion on this post - (3) PostsLeave space here to discuss the costs of memory care.
What does Long Term Care or Assisted Living cost in your state? How much will a home health aide cost? Memory care can be expensive. Should you consider moving to another state? Guarantee Income Life Insurance Company has assembled a terrific chart which helps understand the big picture of how costs will differ in different states. Check out the Chart of Long Term Care Costs by State, then click to the Memory Care Directory to identify memory care providers in your state.
Tags: directory of memory care providers, Long Term Care Costs, memory care
Super-Duper site! I am loving it!! Is again – taking you feeds also,Thanks.
Another thing to look at is how long the policy is good for. Some long term care policies are only good for a set period of time- like 10 years. Fortunately, when she was young my mom bought a policy that continues and pays for life. That was very smart on her part.
It is important to realize that some long term care insurance policies do not pay as much for in-home care as they pay for care in an adult daycare or assisted living community. Some people, like my mother, bought policies thinking that that would help them stay in their own homes forever, only to find out the policy only substantially makes a dent in costs if you move elsewhere.
My long term care policy covers $63/day for in-home care. I was surprised to find out that the policy only provides a reasonable amount (about $150 a day) if care is provided in an adult day care or residential home. The policy would be the same, no matter what state. But costs are different in different states, so it does make a difference.