Assisted Living vs. Nursing Homes: What’s the Difference?
Assisted living facilities and nursing homes are long-term housing and care options for older adults. Although people sometimes use the terms assisted living and nursing home synonymously, they are distinct. Understanding the differences between assisted living and nursing homes is critical for those considering where to live as they age. This is because assisted […]
Tax Deductions for Assisted Living Costs
If you or a family member lives in an assisted living facility, you know that assisted living costs continue to rise every year. But did you know some of those costs may be tax-deductible? Medical expenses, including some long-term care expenses, are deductible if the expenses are more than 7.5 percent of your adjusted gross income. […]
Annual Long-Term Care Survey Finds Steep Rise in Assisted Living Facility Costs Amid Pandemic
In the past year, assisted living facility rates grew 6.15 percent for a median cost of $51,600 per year or $4,300 per month.