Assisted retirement living could cost approximately 60,000 a year in 2024.

     In Asian culture, the idea of placing an elderly loved one in a nursing home may not be well-received. However, caring for an aging individual is a full-time commitment, and not everyone can stay at home and provide full-time care.

This is where the concept of assisted living comes into play, ensuring that the elderly person is comfortably cared for.

The average monthly cost for a semi-private room with basic care services is RM2000. A private room with professional and specialized healthcare provided by trained nurses and in-house doctors can cost up to RM8000 a month. Additional services like diapers may incur separate charges.

Monthly Costs:

Shared Room:

Walking, assistance with ADLs: RM2500 - RM 3500

Bed-ridden: RM2300 - RM 3300

Single Room:

Shared bathroom: RM3000 - RM 4000

Attached bathroom: RM3500 - RM 4500

Couple: RM4000 - RM 5000

Glove+Pad+Diapers: RM400

Lifestyle enrichment: RM200 -RM500


    The prices cover 24-hour care, assistance and nursing, health check-ups, 5 meals a day,  Astro TV, and laundry. All rooms are fully air-conditioned. Reflexology/massage or physiotherapy usually charges separately. Medical-related fees are charged separately and prices vary according to care and treatment.

On average, here’s how much you’ll spend in a year in a nursing home:

Multiple-sharing room: RM3000 x 12 = RM36000

Diapers: RM400 x 12 = RM4800

Medical check-up at a private hospital: RM1500

Medication & supplements: RM200 x 12 months = RM2400

Annual premium for medical insurance: RM6000

Lifestyle enrichment: RM500x12 months = RM6000

Total: RM56700

Please note that these costs are estimates and the actual costs may vary. 

Do comment and help find out the extra cost which I might missed out.

Comments

Post a Comment

Popular posts from this blog

How much money does someone need to earn in order to be "happy"

Image
The amount of income required for an individual to achieve happiness while residing in the United States varies depending on their location; however, on the whole, it appears to be significantly higher than the average annual income earned by Americans. Seems in the US, by achieving  88.8% to 111% of annual median income ($67521) are emotionally well, while 140% to 155% are enough for life satisfaction. Do you agree with this in your country?  Annual Median Income in Malaysia in 2019 is about RM85116 In 2018, a global study published in 2018   examined the amount of money that appears to bring happiness to individuals, as well as the point at which money ceases to have an effect on their well-being. Although "happiness" is a subjective concept, the study authors from Purdue University address this issue by evaluating emotional well-being, which pertains to an individual's daily emotions such as happiness, excitement, sadness, or anger. Additionally, they assessed life sa
Read more

7 Things People Waste Their Money On

Image
  Are you looking for ways to save money and avoid debt? If so, you are not alone. Many people struggle with managing their finances, especially during the holiday season. However, some simple and effective strategies can help you spend less and save more. In this blog post, I will share with you 7 things that people waste their money on, and how you can avoid them. Debt Dangers: Evade high-cost borrowing, as it can swiftly diminish your finances. High-cost borrowing refers to using credit cards, payday loans, or other forms of debt that charge high-interest rates and fees. These types of debt can quickly accumulate and become difficult to repay, especially if you miss payments or only pay the minimum amount. High-cost borrowing can also damage your credit score, which can affect your ability to get better loans or financial products in the future. To avoid high-cost borrowing, you should only use credit cards for emergencies or planned purchases that you can pay off in full every mont
Read more

A respond to pay for outcome based healthcare services

Image
  Health Minister Dzulkefly Ahmad wants private hospitals to shift from pay-for-service to pay-for-outcome to improve health outcomes and curb Malaysia’s high medical inflation rate from uncontrolled procedure costs Health Minister Dzulkefly Ahmad has called on private hospitals in Malaysia to adopt value-based health care to curb medical cost inflation and improve health outcomes.  Admitting that the country’s medical inflation rate of 12.6 per cent is high compared to the global average of 5.6 per cent, Dzulkefly urged private health care providers to shift from a pay-for-service model to a pay-for-outcome approach. “I urge private health facilities, especially the Association of Private Hospitals Malaysia (APHM), to consider this approach. As a minister, I want value-based health care — not pay-for-service but pay-for-outcome — to ensure payment effectiveness and health outcomes without fueling inflation due to uncontrolled procedure costs,” Dzulkefly said. The intention is good. Th
Read more