Most people assume that staying at home is more cost effective but in reality, it can become more expensive as you begin paying for home health services, assistive devices and home modifications.
Figures from SoFi show that the cost of living in Wyoming with all expenses included would come to $47,832 per year or $3,986 per month. This is a general estimate of the entire state of Wyoming and does not include the additional cost of living in some places.
The cost of homemaker and/or home health services is estimated to be upwards of $6,000 per month in 2024 in Wyoming as reported by Genworth. This would be in addition to all the other expenses associated with keeping a home. Those can include: cost of the property (if any), property taxes and insurance, food, transportation, utilities (electric, gas, internet, etc.), maintenance, housekeeping, general supplies and possible renovations for additional safety features.
For those using low income housing or unable to afford additional services, Many level 1 assisted living communities accept the LT-101 waiver that will pay for the majority of your stay. The remainder will be dependent upon your personal income and how much you can afford. Most long term care insurance will cover the charges of assisted living but you will need to check with your insurance provider.
In conclusion, assisted living is affordable to anyone in need.
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