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Because it's specialized, memory care tends to cost more than regular care, requiring more training, more hands-on care, and more personnel (a lower staff-to-resident ratio).Assisted living settings usually cost less than nursing homes (where residents require more intensive care).Demand still outpaces supply, which can make memory care hard to find and get into, especially outside of larger cities.Memory care also costs more than most forms of eldercare because it's specialized, long term, and residential.Facilities aren't required to do so, however; according to a 2013 NCHS survey on dementia care, places offering memory care accept Medicaid less often than those without such units.Some locations set aside a limited number of beds for Medicaid patients. (Medicare doesn't cover residential memory care.) Also check the federal or Eldercare Locator for benefit information.
If the person with dementia served in the active military, naval, or air service with an honorable discharge, veteran's (VA) benefits from the U. Department of Veteran's Affairs may apply toward housing costs.
According to the Alzheimer's Association report, 2014 Alzheimer's Disease Facts and Figures, the average cost of memory care is ,250 per year (,937 per month) in assisted living settings. For example, according to the Genworth 2014 Cost of Care Survey, a semiprivate room in a nursing home ranges from per day to 0 per day, with a median cost of 0 per day.
(That survey doesn't break out memory-care costs.) Most rates are all-inclusive for basic care; additional required services may cost extra.
Remember that someone with Alzheimer's can live for many years.
Consulting an elder-law attorney or financial planner familiar with eldercare as you map a plan can save you money in the end.