For many Long Island families, the first reaction to assisted living costs is sticker shock. A monthly fee that runs several thousand dollars can feel impossible to justify, especially when a loved one already owns a home they’ve lived in for decades. But here’s what most families discover after taking a closer look: the true cost of staying home is often higher than they think, and assisted living may be far more affordable than it first appears.
Understanding what assisted living on Long Island includes, and what staying at home costs, can completely change how families approach this decision.
What Does Assisted Living Really Cost?
According to the 2024 Cost of Care Survey conducted by Genworth and CareScout, the national median cost for assisted living rose to $5,900 per month, or $70,800 per year. That’s a real number, and for many families, it’s the one that prompts an immediate “we can’t afford that.”
But that reaction changes when you understand what that single monthly fee covers.
One Bill, Everything Included
One of the most important things to understand about assisted living is what’s bundled into the monthly cost. Rather than managing a dozen separate expenses, residents typically pay one predictable monthly fee. The table below shows how that compares to what a senior managing their own household pays each month.
Staying Home vs. Assisted Living: What’s Included
| Monthly Expense | Staying at Home | Assisted Living |
| Housing / rent or mortgage | Yes | Included |
| Utilities (electric, heat, water) | Yes | Included |
| Property taxes and insurance | Yes | Included |
| Groceries and meal preparation | Yes | Included (3 meals/day + snacks) |
| Housekeeping and laundry | Yes (out of pocket) | Included |
| Home maintenance and repairs | Yes | Included |
| Transportation | Yes (out of pocket) | Included |
| Personal care assistance | Additional cost | Included |
| Activities and social programs | Additional cost | Included |
| Fitness and wellness programs | Additional cost | Included |
| 24-hour staff availability | Not available | Included |
When you look at it this way, the monthly fee stops looking like a big new expense and starts looking like a consolidation of costs that were already there.
The True Cost of Staying Home
A report by the American Seniors Housing Association found that when around-the-clock care, daily meals, and social engagement are factored in, the cost of senior housing is often comparable to or less expensive than aging in place. Homeownership costs, including maintenance, utilities, and home health care, have risen significantly in recent years, narrowing the gap many families assumed existed.
When a senior living at home needs even modest in-home assistance, the math shifts quickly. According to the same 2024 Genworth survey, the national median cost for a home health aide reached $77,792 per year. That’s the cost of the aide alone, before housing, food, utilities, transportation, or any of the other expenses that continue whether care is needed or not.
For seniors who need 40 or more hours of help per week, in-home care costs can exceed $6,000 to $6,500 per month, and that figure does not include rent, groceries, utilities, or home upkeep. Add those in, and staying home can easily surpass the cost of a well-equipped assisted living community. If you’re weighing in-home support as an alternative, Gurwin’s Long Island home care services may also be worth exploring for families not yet ready for a full transition.
What Families Often Forget to Count
When comparing assisted living to staying home, families frequently overlook a number of recurring expenses.
Housing costs that don’t disappear
Even a paid-off home comes with property taxes, homeowner’s insurance, and ongoing maintenance. An aging home may also require accessibility modifications such as grab bars, ramp installations, or bathroom upgrades.
Meals and nutrition
Grocery shopping, cooking, and cleanup become increasingly difficult as mobility and energy decline. Relying on food delivery services or prepared meals adds up quickly, and the nutrition and social experience of shared dining is simply not replicated at home.
Transportation
When driving is no longer safe or practical, the cost of medical appointments, errands, and social activities falls to family members or paid transportation services. In an assisted living community, transportation is typically included.
Isolation
This one doesn’t carry a price tag, but its consequences do. Social isolation among older adults is linked to serious health risks including cognitive decline, depression, and weakened immune function, according to the National Institute on Aging. In assisted living, residents have access to a built-in community, daily programming, and consistent social connection.
Signs It May Be Time to Consider Assisted Living
Knowing when to make the transition is just as important as understanding the cost. Here are some of the most common signs families notice before making the move:
- Daily tasks like bathing, dressing, or preparing meals have become difficult or unsafe
- Medications are being missed or taken incorrectly
- There have been recent falls or close calls at home
- The person is spending most of their time alone and showing signs of loneliness or depression
- Family caregivers are feeling overwhelmed, burned out, or stretched too thin
- The home requires modifications to remain safe, such as stair lifts or walk-in showers
- A recent hospitalization has made it clear that more support is needed
If several of these sound familiar, it may be worth having a conversation sooner rather than later. For individuals whose memory is also a concern, Gurwin’s memory care program provides a specialized, secure environment designed specifically for people living with Alzheimer’s disease or dementia. Those who require a higher level of medical support may benefit from skilled nursing care.
How People Pay for Assisted Living
Assisted living is not covered by Medicare, but there are several legitimate pathways families use to make it work:
Long-term care insurance is among the most direct options for those who have a policy in place. Coverage amounts and terms vary, so reviewing the policy with an insurance advisor is an important first step.
Proceeds from a home sale are one of the most common funding sources. For many Long Island families, home equity built over decades provides a meaningful financial resource when transitioning to assisted living.
Veterans benefits may be available to eligible veterans and surviving spouses through programs such as the Aid and Attendance benefit, which can help cover the cost of assisted living services.
Medicaid may cover certain assisted living services for qualifying individuals, depending on income and assets. New York’s Managed Long-Term Care programs provide coverage for some community-based care services.
Private pay remains an option for families using savings, investments, retirement income, or family contributions.
Our team is happy to walk through payment options with families and help identify the resources available to them.
The Value That Numbers Don’t Capture
Affordability is about more than the monthly rate. It’s also about what a person’s life looks like day to day.
In assisted living, the worry of living alone disappears. There’s help available when it’s needed, whether that’s assistance getting dressed in the morning, a reminder to take medications, or simply someone to share a meal with. Family members no longer carry the weight of coordinating care, managing medications, making sure their loved one has eaten, or wondering if something happened because no one has heard from them all day.
Watch the video above to hear more about what life at Gurwin’s assisted living community looks like, and what families have to say about the experience.
For many families, the peace of mind that comes with assisted living is one of its most significant, and underrated, benefits.
Thinking About Making the Move? Try It First.
Gurwin’s trial stay program offers a low-pressure way to experience assisted living before making any long-term decisions. It’s a chance to settle in, enjoy the community, and see if it feels like home, with no commitment required.
Frequently Asked Questions About Assisted Living Costs
What is included in the monthly cost of assisted living?
Assisted living typically bundles housing, utilities, three meals per day, housekeeping, laundry, transportation, personal care assistance, activities, fitness programs, and 24-hour staff availability into one monthly fee. This is in contrast to staying at home, where each of these expenses is paid separately.
Does Medicare pay for assisted living?
Medicare does not cover assisted living costs. Medicare is designed to pay for acute medical care and short-term skilled services, not long-term residential care. However, Medicare may cover certain medical services a resident receives while living in an assisted living community, such as home health visits or physical therapy.
Can I use my home to pay for assisted living?
Yes, and this is one of the most common approaches Long Island families take. Selling the family home and using the proceeds to fund assisted living is a practical option for many. Some families also explore a bridge loan while the home is being sold, which provides short-term funds while they wait for the sale to close. A financial advisor familiar with elder care planning can help identify the best approach for your situation.
Does Medicaid cover assisted living in New York?
Medicaid does not cover the full cost of assisted living in New York, but it may cover certain services within an assisted living setting through the Assisted Living Program (ALP) or Managed Long-Term Care (MLTC) plans. Eligibility is based on income, assets, and level of care need. We recommend speaking with an elder law attorney or benefits counselor to understand what may be available.
What is long-term care insurance and does it cover assisted living?
Long-term care insurance is a policy purchased in advance, typically before care is needed, that helps cover the cost of services like assisted living, home care, or skilled nursing. Many policies cover assisted living either fully or partially, depending on the terms. If your loved one has a policy, reviewing it with the insurance provider or a financial advisor is a good first step.
Is Assisted Living the Right Choice?
If you or a loved one is managing daily tasks with increasing difficulty, feeling isolated at home, or if family caregivers are becoming stretched thin, assisted living may be worth a much closer look than the sticker price suggests.
The Fay J. Lindner Residences at Gurwin has been serving Long Island families for over 35 years. As a Best of Long Island winner for seven consecutive years, we bring the same standard of compassionate, award-winning care to assisted living that our community has come to rely on. We’d love to show you around and help you see, clearly and without pressure, what’s included and how families make it work.
Contact us today to schedule a tour or speak with our team.
