How Much Does Memory Care Cost?
August 01, 2023 / Memory Care
Watching a parent or another loved one suffer from memory loss due to Alzheimer’s or dementia can be one of life’s most difficult experiences. This is made more overwhelming if you are partially or wholly responsible for the care and safety of this loved one. This can be emotionally difficult, not to mention the financial stress it can put on an individual. Memory care facilities are often an excellent option for individuals who are dealing with dementia, but they can be expensive, depending on your location and the specific facility. The team at Senior Care AZ is breaking down the cost of memory care, how to pay for it, and how we might be able to help you save on the costs of long-term care.
How Much Does Memory Care Cost?
The first question you will likely ask when you begin to research long-term care options for your loved one with dementia is: How much does memory care cost? This question can be difficult to answer since the prices of different facilities and locations vary greatly. A good number to reference for determining costs is the median, which is the middle of the road cost for memory care. In the United States, the median cost for memory care is $5,800 per month.
This monthly ticket price seems high, but it is important to know what is generally included with this monthly payment. Housing, meals, and 24/7 care will be included in most memory care facilities. These facilities will offer a safe, secure, and intentionally designed environment where seniors with dementia can feel comfortable and have opportunities for socialization with their peers. Many communities have memory-enhancing therapies included in the monthly cost. Other included services typically include assistance with the activities of daily living, complete housekeeping and landscaping services, medication management, transportation, and emergency monitoring.
Memory Care Costs by State
The cost of memory care varies greatly from state to state. The median monthly cost for a memory care facility in each state is detailed below:
| State | Median Monthly Cost |
| Alabama | $4,410 |
| Alaska | $4,817 |
| Arizona | $5,448 |
| Arkansas | $5,053 |
| California | $5,419 |
| Colorado | $5,925 |
| Connecticut | $7,250 |
| Delaware | $5,972 |
| District of Columbia | $11,490 |
| Florida | $4,650 |
| Georgia | $3,995 |
| Hawaii | $8,100 |
| Idaho | $4,336 |
| Illinois | $5,900 |
| Indiana | $5,300 |
| Iowa | $5,669 |
| Kansas | $6,000 |
| Kentucky | $4,513 |
| Louisiana | $4,710 |
| Maine | $7,695 |
| Maryland | $6,285 |
| Massachusetts | $7,695 |
| Michigan | $5,213 |
| Minnesota | $6,418 |
| Mississippi | $4,452 |
| Missouri | $5,800 |
| Montana | $6,105 |
| Nebraska | $5,935 |
| Nevada | No data available |
| New Hampshire | $6,950 |
| New Jersey | $7,710 |
| New Mexico | $4,600 |
| New York | $6,895 |
| North Carolina | $5,490 |
| North Dakota | $5,745 |
| Ohio | $5,315 |
| Oklahoma | No data available |
| Oregon | $6,275 |
| Pennsylvania | $5,635 |
| Rhode Island | $5,925 |
| South Carolina | $4,415 |
| South Dakota | $6,083 |
| Tennessee | $4,417 |
| Texas | No data available |
| Utah | $4,220 |
| Vermont | $8,400 |
| Virginia | $5,555 |
| Washington | $6,175 |
| West Virginia | $5,460 |
| Wisconsin | $5,850 |
| Wyoming | No data available |
Daily Cost of Memory Care
As discussed, costs can vary greatly depending on a variety of factors. But, in general, the daily cost of memory care will range from around $83 per day to as much as $403 per day. The median daily cost in the United States is closer to $181 per day.
Monthly Cost of Memory Care
As mentioned, the median monthly cost for memory care is $5,800 in the United States. These costs can be as low as $2,500 in a state like Georgia or as high as $12,000 in somewhere like Washington, D.C. Memory care facilities generally offer more specialized services, which increases the cost. Living among the general population of somewhere like an assisted living facility can cost less, on average, than a memory care facility.
Yearly Cost of Memory Care
The national median cost of memory care annually is $65,000. These costs are on the rise each year.
How to Pay For Memory Care
If memory care is provided in a skilled nursing facility where a patient with dementia has other medically intensive needs, insurance may cover the costs. However, most patients in a memory care facility will need to use private funds to cover the high costs of long term care.
Does Medicare Pay for Memory Care?
Medicare will not cover the costs of memory care when it is provided in an assisted living or memory care specific community. In some unique cases, a patient may meet certain criteria, such as spending up to 100 days in a skilled nursing facility, and Medicare will cover part of the medical costs for these visits. Many of the medical costs will be covered by Medicare throughout the stay, but Medicare will not cover the costs for room and board or other specialized memory care services.
Does Medicaid Pay for Memory Care?
Medicaid provides health coverage to eligible adults and people with disabilities. Some facilities may accept Medicaid to cover the costs of memory care, but it is likely that facilities that accept the program have only a limited number of beds available for patients that are covering costs with Medicaid. Coverage varies from state to state and is not guaranteed.
Is Memory Care Tax-Deductible?
In cases where certain IRS criteria have been met, covering the costs of dementia care may be deemed tax deductible. The IRS criteria vary and will sometimes require a written assessment by a doctor deeming certain care a requirement.
Cost of Memory Care vs. Senior Living
Memory care generally exceeds the average cost of other types of long-term living arrangements by $1,000 per month. The increased costs for memory care are due to the specialized services and low resident to caregiver ratio, which provide a higher level of individualized care for each resident.
How to Save On Memory Care Costs
There are some steps you may be able to take to save on the hefty costs of memory care. Investing in long term care insurance is a step you could take now that may help you in the future. Long term care insurance must be paid into overtime starting when you are younger, but it may help provide financial assistance in the future if you deal with dementia and need memory care. Exploring community resources, such as adult day care or respite care programs, can provide less expensive alternatives to memory care facilities. The team at Senior Care AZ, an Arizona senior placement agency, has experience working with individuals to provide them with an option that meets their loved ones needs while staying within their financial means. Contact the team today to learn more about saving on memory care options.