Cost of Memory Care: What Families Need to Know

The Wisconsin Department of Health Services reports that about 120,000 residents live with dementia. If your loved one is struggling with cognitive decline, they're far from alone. There are several memory care programs that can help.

However, many families worry about the cost of memory care. They don't know the cost of Alzheimer's care expenses and can't budget effectively. Read on to demystify memory care costs with all the information families need to know.

The Average Cost of Memory Care

The average cost of a Wisconsin assisted living community is about $5,500 monthly.

According to the same Genworth survey, memory care tends to be an additional $950-$1,375 per month. This brings the average cost up to the $6,540-$6,875 range.

However, other reports note that the cost of memory care in Wisconsin averages between $4,600 and $7,000. The reported average falls into the higher end of this range, but there is a lot of variation in memory care community costs.

One reason for this variation is location. Some areas of Wisconsin have lower memory care rates while others charge more. Burlington's specific average is about $4,466 monthly, so it's below both Wisconsin and national averages!

Are These Rates Worth the Money?

The answer to this question is a resounding "yes." Some monthly costs that average Burlington residents may pay outside of memory care include:

Apartment rent (averaging $1,475)
Groceries (averaging $385 per person)
Utilities (averaging about $395)

This adds up to $2,255. General Wisconsin living costs are $2,211 lower than the average cost of all-inclusive memory care.

However, the $2,255 doesn't include anything beyond basic living expenses. It doesn't account for entertainment money.

Communities have all-inclusive fees for:

Community events like music performances and themed dances
Clubs and workshops for crafting, literature, and more
Fitness and wellness programs
Chef-prepared meals so residents don't have to cook
Housekeeping and laundry services

It's also important to consider that seniors require memory care because they can't care for themselves. Investing in a community means:

Getting your loved one the best possible care so they can retain a high quality of life
Unlocking quality nutrition and dining experiences to keep your loved one healthy and flexible
Avoiding becoming a 24/7 caregiver for your loved one (which leads to strained relationships and caregiver burnout)

Seniors in memory care also get:

Activities like puzzles, intended to boost cognition and memory
Social opportunities to stay sharp through engaging with other residents
Sensory experiences that stimulate multiple areas of the brain
Reminiscence and reflection therapy
A safe environment to prevent dementia wandering

Dementia care expenses are all-inclusive and come with a lot of important features.

Factors Influencing Memory Care Pricing

The community you choose is the first thing that impacts senior living fees.

There's a lot of variation in the quality of various memory care communities across Wisconsin. Those that cost less will come with fewer services and amenities. Low costs also frequently equate to low quality of care.

You get what you pay for when it comes to senior living!

Higher-priced communities will come with better-trained staff specialized in working with Alzheimer's and dementia patients. Residents also unlock better living spaces and more community amenities.

When choosing a memory care community, don't just look at the price tag. Look at the value of your senior living fees. Paying a little extra for better services is worth it when your loved one gets a higher quality of life.

Care Levels

Those in memory care already require a higher level of care than standard assisted living residents. This means that memory care is more expensive than the alternative.

However, the reasons for rate fluctuations go beyond this fact.

Some assisted living and memory care residents will need more help than others. A personalized care plan may include daily care tasks like:

Using the bathroom
Bathing/showering
Getting dressed
Shaving
Hygiene activities
Managing medication
Increasing mobility with assistance

Residents in both living options will pay depending on the specific level of services needed. At Arbor View, our caregivers discuss each resident's specific needs with them. Families get involved in discussions as well, so we can create comprehensive and effective tailored care plans.

Apartment Layout

Arbor View offers Wisconsin residents several different floor plans to choose from.

Studios are laid out like hotel rooms. They have a bed, kitchenette, and living room all within one space. The bathroom is annexed onto the suite.

One-bedroom apartments have a bedroom that's separate from the living room and kitchen. All of the rooms are divided up. These apartments are made to look like traditional units one might rent outside the community.

Memory care floor plans greatly influence costs. Families should:

Ask seniors what sounds best to them
Determine how important the floor plan is for their loved one's specific lifestyle
Ask to see the different floor plans while on a community tour

Knowing what to expect can help you cut dementia care costs more effectively.

Sources of Memory Care Funding for Families

Most families look into sources of personal funding to pay for memory care. Long-term savings accounts and personal checking accounts provide funding. So does social security income and pension money.

However, the US and Wisconsin also offer some alternative routes to help pay for memory care.

The most important programs to know about are:

Long-term care loans that you get from a bank or private lender
Bridge loans to make the immediate financial transition from an unsold home to an assisted living community easier
Long-term care (LTC) insurance that pays for a portion of monthly memory care fees in exchange for a premium
Referral programs offered by assisted living and memory care communities
Veteran's benefits

You don't need to pay for everything out of pocket, which makes financing much more viable for many families.

Start Elder Care Financial Planning in Burlington, WI

Now that you know the cost of memory care, it's time to make informed decisions when looking into care options.

Arbor View is committed to offering compassionate memory care from trained and certified caregivers. Our experts are well-versed in assisting those with cognitive decline, including residents with dementia and Alzheimer's.