Many people choose to live their golden years in Florida because of the warmer climate. And while the hope is to enjoy the retirement years living independently, there comes a point when many Floridians may need help considering assisted living facilities for changing physical or health needs. To intentionally plan for senior care costs, it is helpful to ask, what is the average cost of living in Florida?

Why is Assisted Living a Valuable Option?

After spending years working to accumulate wealth for your retirement years, considering the cost of possible assisted living needs can be intimidating. Compared to a mortgage, the sticker shock of this type of daily living can feel overwhelming. However, it is important to view the cost of an assisted living community as a supportive environment that may improve lifestyle, provide social activities, reduce worry, and eliminate some physical requirements related to independent living. This type of living also combines some other regular monthly costs such as utilities, food, and housekeeping into one monthly expense, so the shock of the overall expense is a bit less drastic when looking at all aspects.

Average Cost of Assisted Living in Florida

On average, assisted living costs in Florida are around $4,000 for monthly or yearly costs of $50,000, depending on the location. Of course, this cost may vary some based on location in Florida (i.e., Miami, Tampa, and Punta Gorda tend to be less expensive, Panama City and Tallahassee more, and Port St. Lucie is moderate). There may also be increased costs associated with options available in terms of selected amenities and level of care. As an example, memory care is often 20%-30% more expensive. Care options may include meal preparation, attendant nursing care, emergency response systems, health monitoring, medication management, personal care assistance, health aides, etc. To consider your situation more specifically, access a cost of care survey here.

How Will I Be Able to Pay for Assisted Living in Florida?

As referred to above, assisted living costs can be alarming. However, financial assistance programs are in place to help seniors pay for assisted living facilities or long-term care services. For those seniors who are low-income individuals and/or disabled, Medicaid offers a wide range of services, and Medicaid Waivers are available to financially and medically eligible persons. Some people are also able to utilize previously purchased long-term care insurance or retirement accounts. Additionally, if you are a Veteran or spouse of a Veteran, the VA offers a program to assist with the costs of care. 

Deciding upon a path for immediate or future assisted living costs can feel overwhelming, but there are people who can help. For further discussion regarding the above options and additional holistic guidance from an experienced elder care law attorney in Florida, please contact our office.