Getting into college, buying a home, and understanding how to pay your taxes are all difficult tasks to accomplish alone. Preparing for life after retirement should be easy, but it’s hard to juggle budgets when the pricing structure of senior living is not advertised in big, bold letters. If you’re looking for independent or assisted living and want to know the cost, it helps to know what you’re paying for.
Are senior living communities private pay?
Similarly to renting an apartment or staying in a hotel, when you join a senior living community, you get to choose where you want to spend your money. Its amenities, location, and perks may influence your choice, and paying for these essential services is your choice. Pegasus Senior Living communities are private pay and can cater to any lifestyle.
Some communities like South Hill Village in Spokane, Washington offer all three options. This structure makes it easier to age in place and never hassle with moving again. Ridgmar Place in Fort Worth, Texas is dedicated to active independent living and includes amenities such as an indoor pool. Knowing what you want now or may need in the future can increase your financial stability.
In general, monthly costs will increase with care services needed. Independent living is excellent for retirees who would like to stay active and involved in socializing. In assisted living, you receive help where it is required so you can maintain an independent lifestyle. For people experiencing Alzheimer’s or dementia, memory care is a way to continue living with purpose and dignity.
What are you paying for in senior living?
Medicare may pay for some services at assisted living or skilled nursing facilities, but it will not cover the cost of residency. However, long-term care insurance, social security, and VA benefits can help pay for more services.
North Point Village in Spokane offers assisted living and memory care services. Washington Veterans benefits include coverages for spouses and can be spent on activities of daily living, a service we provide.
What is a base rate?
The base rate is the daily cost breakdown similar to what you may have seen while staying at any hotel.
Depending on the size of your senior living apartment, the base rate is between $90-$150 a day. Pegasus communities offer various apartment layouts, from studios to two-bedroom apartments.
What does the base rate include?
- Three meals a day and snacks prepared by our culinary team using seasonal ingredients that are locally sourced
- Access to the wellness center and exercise classes
- Community transportation to appointments, excursions, and shopping
- Housekeeping, linen service, and maintenance
- Access to an extensive schedule of activities
- Special events and parties your community hosts
- Paid utilities
What is the price for care services?
The price is lower than you would think. Care services at our communities are based on an hourly rate. Because each person needs different services, there are six levels of care. Our senior living experts determine which level of care is best for you or your loved one. $10-$15 a day provides:
- Licensed and registered nurses
- Medication management
- Dressing services
- Bathing services
- Assistance with dining needs
- Behavior tracking and management
- Incontinence care/management
- Secure environment for individuals with memory loss
- Incontinence care/management
- Diabetic care and sliding scale insulin management (in select communities)
- Personal check-ins throughout the day
- On-site physical, occupational, and speech therapy
*This list is not comprehensive of all Pegasus communities. Services vary by location; find one near you for options.
What’s the difference between hospitality and healthcare?
Hospitality and healthcare are the two types of pricing services in senior living. Hospitality, like what you would experience at a hotel, implies the amenities you can enjoy. Healthcare is a sliding scale cost depending on your needs.
While everyone has the same access to activities and meals, care services are personalized just for you.
How does assisted living or memory care compare to the cost of living at home?
There is a fantastic resource available to compare costs of senior living across the country. Comparing state by state, you may find care is more affordable in a location closer to friends or family.
|States Below National Cost Average||Pegasus Community|
It requires a bit of homework, but adding up your monthly budget and comparing it to a month’s cost in assisted living can be surprising.
Think of the things that will build into the cost of living at a Pegasus community:
- Linen service
- Exercise and activities
- Basic health monitoring
Then consider the things you do not need to pay for in assisted living:
- Property tax
- Home repairs
- Home remodels
- Surprise utility bills
Is the cost of senior living worth it?
You’ll have access to modern amenities in a spacious and accessible apartment at a Pegasus Senior Living community. If you need care now or require it in the future, all of those options will be available to you.
Our communities’ complete activities calendars contribute to exciting atmospheres. Join a wellness program, a live concert, a new hobby, or simply relax outside in the shade — the choice is yours. We’re known for our good times, and Greenhaven Place in Sacramento even made the local news for their activities.