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Understanding the Cost of Memory Care

Understanding the Cost of Memory Care

While researching long-term care options for your loved one, you might notice the costs of memory care as well as the services provided can vary location-by-location. When determining the best long-term memory care location for a loved one, understanding the fluctuation of costs and services is important. On average, memory care communities are more expensive than senior long-term residential care options because of the specialized services and medical attention given to residents. The Moments Memory Care offers an all-inclusive payment structure so families can budget for this long-term care. This article will provide insights into the cost of memory care, services provided and share  common ways that families pay for a memory care community for their loved one.

Memory Care Living 

Memory care living is a form of long-term senior living that provides specialized care for people who are living with memory loss, including Alzehimer’s and forms of dementia. 

According to the CDC, more than 16 million Americans are providing unpaid care for loved ones with dementia. Family caregivers of people with Alzheimer’s are at a greater risk for anxiety, depression, and reduced quality of life than caregivers of people with other conditions. Memory care communities are designed to help ease the burden of caring for a loved one with memory loss. It helps improve the quality of life for the person living with dementia as well as the entire family. 

Long-term memory care can be included as a small unit in a larger assisted living/senior living facility OR there are specialty, stand-alone options. 

Memory care communities dedicated to the care of those living with memory loss. One of these homes is The Moments Memory Care, located in Lakeville, Minnesota. 

At The Moments, we specialize in caring for seniors with more than 70 kinds of dementia, including Alzheimer’s, as well as those who need physical assistance and help with some daily activities. 

We are grounded in the belief that all residents deserve the best, which includes living a fulfilled, engaged and happy life, no matter age or diagnosis. At The Moments, our mission is to be a loving home for our residents and care for them as family. We are passionate about enhancing the wellbeing, physical health and human spirit of every resident and providing peace of mind to their families. We showcase this steadfast commitment by listening, building relationships, prioritizing personalized care, and delivering purposeful experiences that keep our residents connected to the outside world.

 

What’s Included in Memory Care Services? 

Because there is no federal definition of what constitutes a memory care home, the care offered at different memory care communities varies. However, at many memory care homes, every aspect of daily life, from food, to activities, and a beautiful luxury suite, are all included in the cost. 

At The Moments, our all-inclusive pay structure includes everything from a beautiful luxury suite, to chef-created made-from-scratch and prepared daily meals, and a variety of daily  programming for activities and exercise, and opportunities throughout the day to engage the 5-senses (taste, touch, sight, sound, smell) as a way to maintain the healthy wellbeing of our residents. Here’s a glimpse at a few services and amenities at The Moments. 

Chef-Created Meals 

Good quality, delicious meals nourish the body and are essential to an individual’s wellbeing. We strongly believe in the benefits of high-quality, fresh and nutritious food, so culinary experience is our priority and core to our care philosophy at The Moments.

The Moments’ culinary director, Chef Charles Plaetz is Le Cordon Bleu-trained. He and his team serve made-from-scratch meals prepared daily with fresh, local produce and ingredients. Each meal is centered around our culinary priorities: offering sensory-pleasing cuisine, honoring culinary traditions, and culinary engagement with the residents.

chefcharles moments

Care That Goes Beyond Medication 

At The Moments Memory Care, we believe that memory care goes beyond pharmaceutical interventions. All too often, our society relies too much on medications to alleviate the symptoms of dementia like agitation, aggression, and anxiety. In conjunction with medication, we utilize the Sensory Design approach to memory care. Every sight, sound, and texture – even the air our residents breathe – is curated to create a healthy and relaxing environment for our residence. 

For instance, our HVAC system cycles out stale air and replaces it with fresh air inside our community up to six times per hour. We also have heated floors for our residents, so you never have to worry about your loved one’s feet getting cold. It’s truly the little things at The Moments that make day-to-day life for residents enjoyable and fulfilling. 

24-Hour Nursing and a Dedicated Medical Director 

We balance five-star hospitality with highly personalized clinical care. Our residents deserve the best. That is why we are committed to round-the-clock nursing services (administered by our RN or LPN) as well as a dedicated medical director. 

Our unique advanced-care approach includes our low nurse-to-resident ratio, which provides personalized attention for our residents and the appropriate level of care, delivered with the highest standards.

Additionally, our nurses’ station in every residential wing of The Moments doubles a therapy kitchen for our residents. This area  provides our residents an opportunity to connect and chat with nurses while baking cookies. This unique area  takes  the “nursing home” feel out of our community and makes it feel more like the home that it is. 

Activities and Programming

Another wonderful benefit that you are paying for when you or a loved one live in a memory care community is the dedicated activities and programming offered for residents. At The Moments Memory Care, we offer a wide variety of enriching therapies in order to keep our residents’ brains stimulated and active. Residents can participate in nature-based programming, music therapy, animal-assisted interventions and even go to events and outings with caretakers and other residents. 

 

music therapy

Safety and Security

As any caregiver for someone with Alzheimer’s or another form of dementia knows, safety is a primary concern for your loved one. The Moments utilizes the latest technology to ensure that our residents are safe, yet feel free to move about the residence as they wish. 

How Much Does Memory Care Cost? 

The cost of memory care varies based on several factors, including location, the type of unit, required services, and the level of medical care and assistance required for your loved one. In some states, memory care can cost as little as $5,500 a month or be as high as $10,000 a month.

Because of the unique amount of medical assistance required in order to properly care for those with Alzheimer’s or dementia, memory care can cost more money than a general senior living or assisted living facility. Consider this: many all-inclusive memory care homes provide the same features and benefits as a nursing home, but also provide the additional care and assistance that those with dementia require. 

Four Ways to Pay for Memory Care

Too often, the cost of memory care becomes stressful for families. There are four primary options when paying for a memory care community: out-of-pocket, long-term care insurance, Medicare, and Medicaid. The differentiation between Medicare and Medicaid can be confusing. 

Out-of-Pocket or Through Savings

Many times, memory care is financed through savings. Some families are fortunate enough to pay out-of-pocket for memory care, but due to the high cost, this is not feasible for everyone. 

Long-Term Care Insurance

Long-term care insurance is a type  of insurance dedicated to long-term senior care. Typically, this type of insurance is purchased early in life; therefore, you might not know if your loved one has this as a financial source to help off-set the cost of long-term care. This is why it’s imperative to have these conversations with your family well in advance of needing care. 

Medicare

While Medicare is the federal health insurance program for U.S. citizens who are 65 and older, it typically doesn’t cover residential care for people with Alzheimer’s or dementia, but it can help pay for some of the associated medical costs. 

Medicaid

Medicaid is health-insurance for low-income United States citizens. Unlike Medicare, it does cover some aspects of both short and long-term care for seniors who meet Medicaid’s guidelines. The services offered by Medicaid vary depending on which state you live in, so be sure to check out the options in your state. However, not all memory care homes accept Medicaid. 

While this is an overview of four primary options to pay for long-term memory care, additional options exist, including, state assistance programs, local community organizations and veterans’ programs. Be sure to do your research to find out if there are any relevant resources that might be available  to help your family with the financial aspect of providing your loved one the best possible care. 

Memory Care Community at The Moments

When you or a family member lives at The Moments, you are a part of our memory care community – and we consider you family. We know that making the move to a memory care home is a major decision for the whole family. We prioritize making  the transition as smooth as possible for everyone! If you are considering a memory care community for a loved one, , we hope you’ll consider making The Moments your new home. To learn more about the cost of memory care at The Moments, contact us today.

TAKE A TOUR

Our resident specialist will give you a private tour of The Moments Memory Care Community and answer any questions you may have.

THE MOMENTS
COVID-19
Safety Protocols

Our HVAC system was uniquely designed to deliver six complete air changes per hour which means clean air, safer air, throughout the building. Our resident rooms have individual fresh air and filtration above the windows, both designed to increase safety and sanitation levels.

Our normal protocol includes rigorous daily disinfecting of resident rooms and common areas. During every shift, staff disinfects doors, handrails and other common areas.

Meals have shifted from community gatherings to small group, socially distanced meals that are served in shifts, tables and chairs are sanitized after each seating.

ALL residents and staff are tested bi-weekly, at a minimum and take temperature checks are conducted daily of all residents.

Anybody – staff, caregivers, residents, vendors – who enters The Moments will pass through the ENTRY where Far-UVC lighting will inactivate surface-level viruses and bacteria

Additionally, prior to each
shift staff:

  • Undergo a health
    screening, temperature
    check and contact risk
    evaluation surveys prior
    to entering the building
  • Are required to wear a
    facemask and goggles
    at all times
  • Constantly conducting
    thorough handwashing
    and hand sanitization
    during their shifts

Essential caregivers/visitors
are required to:

 

  • Undergo a health
    screening, temperature
    check and contact risk
    evaluation surveys prior
    to entering the building
  • Wear masks during
    their visit
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