<p>Assisted living in the U.S. costs an average of $2,524 per month, or $30,288 per year, according to the newly released 2004 MetLife Market Survey of Assisted Living Costs. The highest monthly average base cost was reported in Stamford, Connecticut at $4,327 while the lowest was Miami, Florida at $1,340.</p>
<p>According to the 2003 MetLife Market Survey of Assisted Living Costs, the average monthly cost of an assisted living facility in the U.S. was $2,379 per month, or $28,548 per year.</p>
<p>The study, conducted for the MetLife Mature Market Institute, identifies assisted living facilities as housing options for older adults that promote independence and autonomy. They provide services to assist aging individuals with daily living. The facilities can range from a small house to a large apartment-style complex, though most have between 25 and 125 units. The majority of residents in assisted living facilities pay privately or through a long-term care insurance policy. Assisted living facilities are typically not funded through Medicaid, although a number of states have begun providing payment.</p>
<p>"Assisted living is becoming an increasingly popular option for older Americans who are looking at different living options that provide both support and independence during one´s retirement years," said Sandra Timmermann, Ed.D., director of the MetLife Mature Market Institute. "But, it is also becoming an increasingly expensive choice. Not only must consumers factor in the rising base rates for assisted living facilities, they must also find out whether there are any additional fees that are charged for services such as medication management or dementia care that may further add to the expense. Families choosing assisted living as an option are cautioned to investigate the "hidden costs" for services that may be needed in the present or the future."</p>
<p>Here are the monthly costs for various regions in the 50 states and the District of Columbia:</p>
<p><img src="/HRCom/Uploads/ArticleImages/n29 assisted living metlife 1.jpg" border="0"></p>
<p>Services included in the base price of an assisted living facility are usually limited to two to three meals per day, assistance with Activities of Daily Living, social activities, medication management, laundry and housekeeping. Additional fees may be charged for services such as an increase in frequency and time for personal care, laundry needs over and above the basic service, meals delivered to the living quarters and dementia care.</p>
<p>There are more than 36,000 assisted living facilities in the U.S. containing more than 910,000 units, according to the National Academy for State Health Policy. The National Center for Assisted Living reports that roughly one million Americans live in these facilities; the typical resident is an 83-year-old woman requiring assistance with 1.7 Activities of Daily Living.</p>
<p>The MetLife Market Survey of Assisted Living Facilities was conducted in August 2004 by telephone in 87 major markets in all 50 states and the District of Columbia. Ten facilities, or 15 percent (whichever was greater), were surveyed in each market, except for Washington, D.C., where only five were polled. All facilities surveyed were licensed according to each state´s standards for licensure. These included freestanding as well as multi-level complexes and did not include continuing care retirement communities.</p>
<p>The MetLife Mature Market Institute is MetLife´s information and policy resource center on issues related to aging, retirement, long-term care and the mature market. The Institute, staffed by gerontologists, provides research, training and education, consultation and information to support MetLife, its corporate customers and business partners. For more information and a copy of the study, please visit the Institute´s Web site at www.maturemarketinstitute.com.</p>
<p>MetLife, a subsidiary of MetLife, Inc. (NYSE: MET), is a leading provider of insurance and other financial services to individual and institutional customers. The MetLife companies serve individuals in approximately 13 million households in the U.S. and provide benefits to 37 million employees and family members through their plan sponsors. Outside the U.S., the MetLife companies serve approximately 8 million customers through direct insurance operations in Argentina, Brazil, Chile, China, Hong Kong, India, Indonesia, Mexico, South Korea, Taiwan and Uruguay. For more information about MetLife, please visit the company´s Web site at www.metlife.com.</p>
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