I was quoted in the below article posted on December 7, 2010 in the New York Times in the New Old Age portion of the Health section. It is important information to have when deciding what is best for your aging loved one…
This fall, my father sat down for a semi-annual assessment with staff members at his assisted living facility in Tinton Falls, N.J. They decided his condition — at 72, he has advancing Parkinson’s disease — necessitated an upgrade to the next level of care.
The meeting yielded an upgraded bill, too: a nearly 18 percent bump, about $12,000 a year.
Most assisted living residents foot the bill on their own or with help from family. Cost increases typically come in two forms: annual upticks to cover rising expenses, and more significant hikes accompanying a move to the next tier of care, such as help with bathing or dressing.
The annual rises can be daunting enough. The MetLife Mature Market Institute recently reported that assisted-living costs climbed 5.2 percent from 2009 to 2010, to a national monthly average of $3,293, outpacing both inflation and the interest earned on savings and bonds — a problem for the elderly on fixed incomes.
Read more here.
Balloons says
January 9, 2011 at 11:51 pmInteresting article… sure hate how quickly inflation rises… although I guess it’s at least good for those in debt, so-to-speak. Thanks for the read!
-Jackie
Balloons says
January 9, 2011 at 11:51 pmInteresting article… sure hate how quickly inflation rises… although I guess it’s at least good for those in debt, so-to-speak. Thanks for the read!
-Jackie