How much does a nursing home cost in Florida?

1 min read by Unbiased team Last updated June 28, 2024

Learn about the cost of nursing homes in Florida, including ways to pay, tax benefits, and the benefits of early planning.

Summary 

  • The average cost of a nursing home in Florida for a private room is approximately $11,750 per month. 

  • Specialized care, such as Alzheimer's or memory care, can increase monthly expenses by 20% to 30%. 

  • Assisted living facilities in Florida average $4,750 monthly, with costs varying widely across the state. 

  • A financial advisor can help you plan for the future and ensure you have enough money to cover every possibility.  

What are the average costs of nursing home care in Florida? 

Although costs vary, the average cost of a private room in a nursing home in Florida is approximately $11,750. This figure is slightly above the national average, reflecting Florida's popularity as a retirement destination. 

Regional variations within Florida also exist.  

For instance, nursing home care in Naples or Tallahassee tends to be more expensive than in areas like Sebring or Panama City.  

This breakdown of the average cost of nursing home care in Florida by region from 2021 gives some indication: 

LocationPrivate roomSemi-private room
Naples $140,525 $124,830
Tallahassee $138,700 $90,520
Tampa $136,875 $119,355
North Port $125,560 $110,230
Lakeland $108,405 $103,660
Ocala $107,675 $98,185
Sebring $101,470 $89,425
Panama City $100,375 $98,550

Is nursing home care good in Florida? 

Understanding nursing home costs in Florida is crucial when considering eldercare. The financial implications can significantly impact long-term planning and quality of life.  

In Florida, nursing homes offer a range of care options.  

Basic care covers day-to-day needs, while skilled nursing provides medical care for those with chronic conditions.  

Specialized care, such as for dementia, ensures tailored support for those with specific health issues.  

How do costs compare for different types of care in Florida? 

The type of care chosen significantly affects the cost of nursing home care in Florida.  

The average cost of a semi-private room, generally the most affordable option, is $10,182 monthly.  

Specialized services such as Alzheimer’s or memory care, which involve a higher level of supervision and security, can increase the monthly expenses by 20% to 30%

Choosing the right option depends on individual needs and budgets. For instance, a semi-private room might suit someone who values companionship and affordability, while a private room may be ideal for those who prefer privacy. 

How do you pay for nursing home care in Florida? 

Private savings and long-term care insurance are common methods of paying for nursing home costs in Florida.  

Long-term care insurance, purchased well before it’s needed, can significantly offset costs. 

Medicare, while primarily for short-term care, can cover nursing home costs under certain conditions, such as after hospitalization.  

Medicaid is a crucial resource for those with limited assets, covering nursing home care costs for eligible individuals. Qualifying for Medicaid in Florida requires meeting specific income and asset criteria.  

Planning ahead is vital, as transferring assets to qualify can lead to a penalty period.  

Consulting with a financial advisor who specializes in eldercare can help navigate these complexities. 

What are the tax implications of nursing home costs in Florida? 

The cost of a nursing home in Florida can have tax implications.  

Medical expenses, including nursing home costs, may be deductible on federal income taxes if they exceed 7.5% of your adjusted gross income. This includes costs for diagnosis, cure, mitigation, treatment, or prevention of disease. 

Claiming these deductions requires meticulous record-keeping. You need detailed documentation of all medical expenses and should consult a tax professional to maximize your deductions.  

What is the difference between nursing homes and assisted living facilities in Florida? 

Choosing between a nursing home and an assisted living facility depends on the level of care needed.  

Nursing homes provide comprehensive medical care for those with significant health issues, whereas assisted living facilities offer more general support with daily activities. 

Costs also differ.  

Assisted living facilities in Florida are generally less expensive, averaging around $4,750 monthly. However, the range of costs across the state varies greatly, with an average low of $2,295 per month and an average high of $8,055 per month.  

The choice between the two depends on the resident's health needs and financial situation.  

How do you choose the right nursing home or assisted living facility in Florida? 

Choosing the right facility requires careful consideration of cost, quality of care, services offered, and location.  

It’s best to visit potential facilities to observe their environment, talk to staff, and speak with current residents and their families. Look for cleanliness, a friendly atmosphere, and adequate staffing. 

Questions to ask include:  

  • What is the staff-to-resident ratio?  

  • What medical services are available?  

  • How are care plans developed and reviewed?  

These inquiries help ensure the facility meets your expectations and needs. 

When should you start planning for long-term care? 

Early planning for long-term care is crucial.  

The right insurance can help mitigate costs, and starting early allows for better financial management. Long-term care insurance should be considered, especially if purchased when younger and healthier, as premiums will be lower. 

Financial planning involves setting aside savings, understanding potential costs, and exploring all available funding options.  

Estate planning is also essential, ensuring your assets are protected, and your wishes are honored. Involve family members in decision-making to ensure everyone is on the same page. 

Get expert financial advice 

Understanding the cost of nursing homes in Florida is a vital part of eldercare planning.  

By exploring costs, financing options, tax implications, and care differences, families can make informed decisions that ensure their loved ones receive the best possible care without undue financial strain. 

Unbiased will connect you with a financial advisor for expert financial advice tailored to your long-term care planning needs. 

Writers

Unbiased team

Our team of writers, who have decades of experience writing about personal finance, including investing and retirement, are here to help you find out what you must know about life’s biggest financial decisions.