Retirees have always been drawn to Florida. One-fifth of Florida’s population, or 4.5 million individuals, are older adults aged 65 and up out of a total of 21,781,128. Alzheimer’s disease and other forms of progressive-degenerative dementia affect more than half a million Floridians currently, and the incidence of memory loss is rising quickly. More than 6,500 Floridians lose their lives to Alzheimer’s each year, and the number of people living with the condition is projected to increase by 24.1% by 2025. If you are looking to relocate to one of the memory care communities in Indian Harbour Beach, FL, here is what you need to know.
Memory Care Communities in Indian Harbour Beach, FL
Those looking for a warm, sunny place to retire will appreciate Florida’s subtropical climate because it never gets too cold to enjoy the outdoors. And because there is no state income tax, pensioners can keep more of their hard-earned money in their retirement accounts and pensions. Health care prices in Florida are below the national average, and the state has roughly 206 licensed physicians per 100,000 people. Florida’s average monthly cost for residential memory care is around $5,000.
Independent memory care communities for persons with Alzheimer’s or other forms of dementia exist, but more commonly, this type of care is delivered as a separate unit within an existing assisted living community. Individuals with memory loss can benefit from specialized memory care programs, and assisted living communities that offer these services often arrange for specialized social activities and routines to meet the requirements of their residents with dementia and Alzheimer’s.
Memory care costs in Florida are broken down and compared to the average cost of other long-term care options in this resource. It also includes a list of resources for elderly people dealing with memory loss, as well as information on how to pay for memory care and state rules for memory care programs.
Cost of Memory Care
When compared to the cost of assisted living, the cost of residential memory care is typically 20-30% greater. The following monthly costs for memory care were approximated by adding 25% to the rates mentioned in Genworth’s 2021 Cost of Care Survey because there is presently no national database tracking memory care costs in the United States. In comparison to the adjacent states of Alabama ($4,379) and Georgia ($4,419), Florida’s average monthly cost of memory care is $5,000, which is $485 more than the cost in South Carolina ($4,515).
Medicaid for Memory Care
The Statewide Medicaid Managed Care, Long-Term Care Program in Florida is available to Medicaid-eligible elders who live in Florida and need residential memory care services. The SMMC-LTC, first introduced in 2013, is a Medicaid waiver that pays for a variety of health care and non-health care services and supports in an effort to keep people out of nursing homes. These options include the client’s own home, an adult day care center, or a more institutional setting like an assisted living community.