Dementia Care Costs and What’s Included at The Herrick House

The Average Dementia Care Costs in Beverly, MA

A dementia diagnosis in a family member can bring up strong feelings about the future, and it’s natural to wonder about dementia care costs as you plan the road ahead. Anticipating the cost of dementia care doesn’t mean you love your parent or spouse less. It means you’re being realistic about the future and taking a smart approach to being ready for whatever comes.

Preparing for the financial costs of dementia can reduce an important layer of anxiety from a future that already feels uncertain. Below, we’ll walk you through what memory care typically costs, how families pay for it, and what’s included in our Spectrum Memory Care.

What Is the Average Monthly Cost for Memory Care?

The average monthly cost of memory care nationwide is $7,645, but this varies depending on the location and individual needs. Memory care usually has a higher cost than assisted living because it requires specialized training and a higher caregiver-to-resident ratio. That means your loved one gets more individualized attention from caregivers trained to help them maintain dignity and a sense of safety.

All of our Spectrum Program caregivers in our community are specially trained. When it’s time for memory care at The Herrick House, you can trust that your loved one will receive compassionate care in a calm environment built around their needs.

How Families Cover Dementia Care Costs

Hearing that monthly number for the first time can feel overwhelming. The good news is that there are multiple options available for paying for care. Families rarely pay the entire amount out of pocket. You may be able to cover the cost of memory care through a combination of these sources, depending on your family’s circumstances:

• Long-term care insurance
• VA Aid and Attendance for eligible wartime veterans and their spouses
• A reverse mortgage or the sale of a primary residence
• MassHealth for Massachusetts residents who meet income requirements
• Private pay from Social Security, pension, retirement income and liquidated investments
• Contributions from family members

We understand how complex financial planning can be when it includes dementia care. Download our Financial Planning for Retirement Living Guide for a closer look at your options. You don’t have to figure this out alone.

Does Medicare Pay for Dementia Care?

Medicare does not cover long-term memory care because it considers daily living support a non-medical personal expense. However, it may cover some dementia care costs, including:

• Cognitive assessments
• Doctor visits
• Prescription medications, if your loved one has Part D coverage
• Short-term rehab after hospitalization

What’s Included in Memory Care at The Herrick House

Our Spectrum Program provides a warm, comforting environment to people with cognitive challenges, including advanced Alzheimer’s disease and other dementias. Our specially trained care team does more than just supervise. They create a comfortable home where your loved one can feel safe, respected and loved.

Here is what your loved one will experience at The Herrick House:

• A secure private studio or one-bedroom apartment they can call their own
• Secure common areas that feel open, not confining
• Unlimited assistance with daily activities, such as bathing, dressing and toileting
• Three delicious, nutritious meals every day in a dedicated dining room reserved for our memory care residents
• Housekeeping, linen and laundry services that keep the apartment fresh
• Failure-free wellness activities including social and spiritual programs that provide a sense of accomplishment and bring out smiles

Help is never far away when your loved one lives in our Spectrum Program. We’re part of Beth Israel Lahey Health, and our community is located on the upper campus of Beverly Hospital. You’ll have peace of mind knowing help can be there quickly during an emergency. Routine lab work and doctor visits can also happen in the comfort of your loved one’s apartment, eliminating transitions that can be upsetting for people with cognitive decline.

As a not-for-profit, our funding goes back into the people who live here, including their care, programs and the team that knows your loved one by name.

Get Help with Your Dementia Care Planning

Dementia care costs can feel overwhelming when you’re unsure of what is included and how to pay for it. If you haven’t already downloaded our guide on Financial Planning for Retirement Living, you can find it here. We’re also here to answer your questions and provide direction as you plan for your loved one’s next chapter. Send us a message here or give us a call at 978-922-1999.