There are over 2,400 assisted living facilities in Florida, second only to California. But that would make sense, as this state is the most popular retirement destination in the country. Here are some of the assisted living trends you should know about if a senior loved one is looking for appropriate care.
An assisted living residence is a senior living community that provides care, supervision, and social engagement to seniors who might otherwise live alone. Across the United States, approximately 810,000, or 2% of the senior population lives in assisted living residences. However, this number is expected to increase as the 85+ demographic will double within 15 years and triple within 30 years. Experts estimate that approximately 70% of these adults will require assisted living level care at some point, prompting developers to plan up to 1 million new senior living units by 2040.
National Assisted Living Trends
The average cost of assisted living in the U.S. is $4,300 per month, but this average is lower in Florida. Assisted living costs in the Sunshine State average about $3,700 per month. While that number may sound challenging for some families, it is essential to understand that remember that a full-time home health aide costs the same or more (averaging $4,500 per month.) If your senior loved one needs full-time care, assisted living provides a competitive option that also allows for social interaction and a safe environment. Assisted living residents typically require some level of care and assistance with ADLs but can often live independently. Demographic studies have revealed that the following conditions are common among those living in assisted living communities.
- High blood pressure
- Heart disease
- Arthritis
- Alzheimer’s or dementia (may need memory care)
Most assisted living facilities in 2023 offer the following amenities to their residents:
- Pharmacy access
- Meal planning and nutritional guidance
- Physical and occupational therapy services, as well as fitness facilities
- Nursing, respite, and hospice care
Additional Demographic Information
Assisted living facilities offer housing to senior residents with various levels of independence. Some may be able to handle their own hygiene; others may need some help with their ADLs. Some may be capable of staying on their own medication schedule; others may need assistance with medication management. Although everyone is unique, these assisted living trends show the evolving industry.
- 71% of assisted living residents have memory impairments.
- 29% of residents exhibit minor cognition issues.
- 42% of assisted living residents have moderate to severe memory impairment.
- The average length of a stay in an assisted living residence is 22 months when care needs tend to evolve and require more intensive care.
- 71% of assisted living residents are women because women often outlive their spouses
- The average age of assisted living residents is 84. 52% of residents are over 85, and 30% are between 75 and 84.
Paying for assisted living may be one of the most significant hurdles to this type of care. Although it is more affordable than other options, families often seek financial assistance. Medicare covers up to 20 days of assisted living care, which is not enough if the stay is intended to be permanent. Florida Medicaid programs may cover some assisted living expenses, but the amount and days covered vary by state. Most seniors will need other financing strategies if they do not have the required cash.
If you want to discuss the financial implications of an assisted living decision, call A Banyan Residence today to schedule a consultation.
Assisted living is an excellent option for those who need some level of care and wish to live in community with other seniors. A Banyan Residence is a premier assisted living and memory care center located in The Villages.
