By 2020, the national average cost for a private room in a nursing home is projected to be approximately $9,000 per month. At that rate, an extended stay in a long-term care facility could drain a person’s savings in a hurry. There are insurance products that help pay long-term care costs. But premiums can be expensive, and the policies often limit the types of care covered.
Do you understand the difference between Active Living and Assisted Living? Do you know how a Continuing Care Community differs from a Nursing Home? Unless you’ve been around the senior housing industry for a while, you’re likely to be confused about all the various care alternatives available. Just learning the different names from one living option to the next can seem overwhelming. So, if you’re setting out to research living options for a loved one, learning the terminology is always a good place to begin.
Topics: Active Living, Articles, Continuing Care Communities, Hospice, Independent Living, Inpatient Rehabilitation, Memory Care, Nursing Homes, Residential Care, Respite Care, Senior Care Terms, Senior Housing, Senior Living