Senior living can be expensive: the average cost of a nursing home, as of 2012, was $90,000 per year, according to a MetLife study. Additionally, when it comes to senior care options, you may have many choices to make in terms of the level of care for you or a loved one. Whether you require assisted living for memory care or other chronic conditions, or if you are seeking out independent senior communities.
During your search, you may come across the terms “for profit senior homes” and “non-profit homes for seniors.” What are the differences between for-profit vs non-profit senior care? Here are some potential features you can anticipate with each.
For-Profit Homes for Seniors
Nursing homes for seniors that aren’t from non-profit organizations may be run by corporations, development companies, or private medical practices. While there won’t necessarily be a difference in the care found in for-profit and non-profit homes, there could be a difference in the types of facilities you see. There’s a good chance that the more you pay, the more you could see in the way of amenities in your senior care facility.
Today’s senior communities are becoming more sophisticated as times change. Those that bill themselves as independent living communities, for instance, might include townhouses or full-sized homes for you and a partner. Amenities often include a spa-like atmosphere reminiscent of a vacation spot rather than a nursing home. For those who require more assisted living, for tasks such as dressing, cooking, eating, and getting to medical appointments, there are a number of for-profit homes that provide this type of care, too.
Non-Profit Homes for Seniors
Non-profit homes for seniors are typically run by hospitals, religious organizations, charities, and, sometimes, medical practices. These homes can be more cost-effective for some who are on a fixed income, but this isn’t always the case.
Care in these facilities can also range from independent living to full-scale assistance, especially when it comes to treating dementia, Alzheimer’s, and other chronic conditions, which up to 20% of assisted living residents have. Non-profit homes are more focused on care, much of the time, but they can also provide a variety of activities to help keep seniors occupied.
An estimated one million Americans already live in senior care facilities, and there will likely be millions more in the coming decades as 77 million Baby Boomers plan for retirement. If you are a part of this population, it’s important to know the options available to you and your loved ones.
What are your plans for senior living? Let us know in the comments. Great references here: seniorlivinghomeguide.org
