At McKnight Place, we understand that determining what’s available, what’s affordable, and what’s included in a senior living community can challenge even the most financially-savvy families. That’s why we’ve taken the stress out of financing with our unique, completely transparent approach called “Predictable Pricing.”
McKnight Place offers true, all-inclusive rates that are simple, predictable, and worry-free. That can be a rare find in an industry known for complex pricing structures and mandatory “add-ons” which can cause numerous problems for consumers and operators alike.
What is Predictable Pricing?
Never ask yourself “How much does assisted living cost?” or “What will the monthly fees be now?”
Predictable Pricing is an innovative, all-inclusive, fixed-rate program with no buy-in fees. McKnight Place doesn’t use points, tiers, or levels to escalate fees. Resident rates are subject only to an annual Cost of Living Adjustment. McKnight Place does charge a fully refundable security deposit that can be used towards the last month’s rent or be returned upon termination of the agreement.
Life insurance policies and health insurance, like Medicare, Medicaid, Veterans Benefits/Aid and Attendance, or long-term care insurance policies, may help offset some of the cost.
What does it include?
According to CareScout’s Cost of Care Survey, nearly 70% of people will eventually need some form of long-term residential care and/or in-home care services. That means it pays for older adults and their loved ones to know the real cost of senior care.
Memory Care & Assisted Living Communities
These senior living options are perfect for people who need some daily assistance or live with conditions like Alzheimer’s disease.
- Three well-balanced, chef-prepared meals each day
- Assistance with activities of daily living (ADLs) (toileting, showering, etc.)
- Licensed nurse on-site 24 hours a day, 7 days a week
- Medication management
- Daily laundry and housekeeping services
- Weekly linen service
- All utilities, including local and long-distance telephone
- Cable TV and Wi-Fi
- A wide array of social and learning opportunities
- On-site salon and barber services*
- Transportation for doctor visits, shopping, and planned outings*
- On-site physical, occupational, speech, and restorative therapy services*
*Additional charges may apply.
Skilled Nursing Care Community
Our skilled nursing care option offers the right type of care to people who need around-the-clock medical services and short-term rehabilitation services.
- Three well-balanced, chef-prepared meals each day plus snacks
- Licensed nurse on-site 24 hours a day, 7 days a week
- Daily happy hours with complimentary hors d’oeuvres and entertainment
- Assistance with dressing and showering as needed
- Medication management and administration
- Daily housekeeping services
- Personal laundry services
- Weekly linen service
- All utilities, including local and long-distance telephone
- Over 50 HD channels of satellite TV
- Wireless internet throughout entire building
- A wide array of social, wellness, and learning opportunities
- On-site salon and barber services*
- Arrange transportation for doctor visits, shopping, and planned outings*
- On-site physical, occupational, speech, and restorative therapy services*
*Additional charges may apply.
What is the cost of assisted living, memory care, and skilled nursing care?
No complicated pricing structures. No hidden fees or exorbitant premiums. No massive lump sum entry fees. Just upfront pricing and honesty.
Our St. Louis senior living communities offer Missouri older adults and their family members peace of mind that not only are their personal care and medical care needs met, but also that their average monthly costs will be fair and transparent, no matter what level of care they require.
Assisted Living Daily Residency Fees
The average cost of assisted living services at our campus is as follows:
- Deluxe Suite – $355
- Deluxe Suite with Walk-in Closet – $415
- One-Bedroom Apartment – $480
- Grand One-Bedroom Apartment – $680
- Luxury One-Bedroom Apartment – $725
- Two-Bedroom Apartment – $765
Enhanced Assisted Living Daily Residency Fees
- Studio Suite – $365
- Deluxe Studio Suite – $395
- Deluxe One-Bedroom Apartment – $695
Second person daily residency fee – $125
Note: A limited number of larger units may be available.
Memory Care Daily Residency Fees
- Studio Suite – $480
Skilled Nursing Daily Residency Fees
The average cost of skilled nursing home services at our campus is as follows:
Private Room – $495 – $535
FAQs
What is included in McKnight Place Predictable Pricing?
Predictable Pricing is McKnight Place’s all-inclusive, fixed-rate approach to senior living costs. Rather than using points, tiers, or levels that increase fees as a resident’s care needs change, the program provides a more straightforward way for families to understand and plan for expenses.
For assisted living and memory care residents, the rate includes services such as chef-prepared meals, assistance with activities of daily living (ADLs), 24-hour access to licensed nursing, medication management, housekeeping, laundry, utilities, Wi-Fi, cable TV, and social and learning opportunities. Certain optional services may involve additional charges.
Will my rate increase if I need more assistance?
McKnight Place does not use points, tiers, or levels of care to escalate fees under Predictable Pricing. Resident rates are subject to an annual Cost of Living Adjustment, helping families plan ahead without worrying about a long list of unexpected care-level charges.
Does McKnight Place charge a buy-in or entrance fee?
No. Predictable Pricing does not require a buy-in fee or large lump-sum entrance fee. McKnight Place does require a fully refundable security deposit, which can be applied toward the last month’s rent or returned when the residency agreement ends.
Is McKnight Place a private-pay senior living community?
Yes. McKnight Place is a private-pay community. Families generally use personal financial resources to cover assisted living, memory care, and long-term care costs, although certain insurance benefits may help with qualifying expenses.
Does Medicare pay for assisted living at McKnight Place?
Traditional Medicare does not generally pay for long-term assisted living room and board. Medicare may, however, cover certain eligible medical services or short-term skilled nursing care under qualifying circumstances, such as following a hospital stay.
Because coverage depends on the individual and services received, families should speak directly with Medicare or their health insurance provider to understand their benefits.
Does McKnight Place accept Medicaid?
No. McKnight Place does not accept Medicaid for assisted living, memory care, or skilled nursing services. McKnight Place is a private-pay community.
Families looking for ways to plan for long-term care expenses are encouraged to speak with their financial advisor, insurance provider, or the Department of Health and Human Services (HHS) about resources that may be available based on their individual circumstances.
Can long-term care insurance help pay for McKnight Place?
McKnight Place accepts some long-term care insurance policies for assisted living and skilled nursing. Coverage varies significantly by policy, so families should review their benefits with their insurance provider to determine which services and expenses may qualify.
When reviewing a long-term care insurance policy, it can be helpful to ask about benefit amounts, elimination periods, qualifying care requirements, and the documentation needed before benefits begin.
When should I start financially planning for assisted living?
It’s never too early to begin planning for potential senior living and long-term care expenses. Starting before care is urgently needed gives families more time to research communities, understand pricing, compare financial resources, and build future needs into their overall retirement plan.
Early planning may include reviewing savings and retirement accounts, budgeting for potential housing and medical expenses, evaluating long-term care insurance, and discussing investment options or possible tax advantages with a financial professional. It’s also helpful to research preferred communities early, since certain residences may have limited availability or waitlists.
Planning ahead does not mean you have to make a move right away. It simply gives you more options and helps prevent important financial and care decisions from having to be made during an emergency.
How much should families budget for assisted living?
The cost of assisted living varies depending on factors such as the accommodations selected, services required, geographic location, and the community’s pricing structure. When comparing communities, look beyond the advertised base rate and ask exactly what is included and which services result in additional charges.
McKnight Place publishes its residency fees and uses Predictable Pricing to make those costs easier to understand. Families can then compare the cost with expenses they may already have at home, including housing, utilities, meals, housekeeping, transportation, home maintenance, and in-home care.
What other financial resources can families consider for long-term care?
Because every family’s financial situation is different, there is no single way to pay for senior care. In addition to personal savings and income, families may want to explore whether long-term care insurance, annuities, life insurance policies, or other financial resources could contribute toward expenses.
A financial advisor or insurance professional can help you understand how these resources fit into your long-term financial plan. Families can also consult HHS for information about programs and financial assistance for which they may qualify.
How can investments and retirement savings help pay for assisted living?
Many families use a combination of income sources to pay for assisted living, including savings, home sale proceeds, pensions, Social Security benefits, and withdrawals from investment or retirement accounts. Because senior living can become a significant part of a household’s long-term budget, it can be helpful to consider how these resources will work together before a move is necessary.
A financial advisor can help evaluate retirement savings, employer-sponsored retirement plans, and overall portfolio structure to determine an appropriate withdrawal strategy. Depending on your circumstances, that conversation may also include risk management, maintaining sufficient accessible funds for future care expenses, and balancing more conservative allocations with income-producing investments.
There is no single investment strategy that is right for every family. Planning ahead with a qualified financial professional can help you determine how your available assets and income sources can support both current living expenses and potential long-term care needs.
Are assisted living expenses tax deductible?
Some assisted living expenses may qualify as medical expense deductions under certain circumstances, but not every resident or expense qualifies. Eligibility can depend on the resident’s medical needs, whether services meet IRS requirements for qualified long-term care, and whether the taxpayer itemizes deductions.
Tax rules can be complicated and change over time, so residents and families should consult a qualified tax professional rather than assuming that all assisted living expenses are deductible.
How does the cost of assisted living compare with receiving care at home?
When comparing assisted living with remaining at home, consider the entire cost of each option. Staying at home may involve mortgage or rent payments, utilities, groceries, home maintenance, property taxes, transportation, housekeeping, and potentially significant home care or caregiving expenses.
Assisted living combines many of those expenses with access to personal care, meals, housekeeping, social opportunities, and 24-hour nursing availability. Looking at the complete financial picture can provide a more meaningful comparison than considering housing costs alone.
What happens financially if a resident needs memory care or skilled nursing?
Care needs can change over time, which is one reason understanding a community’s pricing structure and available levels of care is so important. McKnight Place offers assisted living, memory care, and skilled nursing, with published residency fees for each care setting.
Our team can help families understand the appropriate care option, current pricing, and what services are included so they can make an informed decision as needs evolve.
Who can help my family understand McKnight Place pricing?
Our Leasing Counselors can explain current residency fees, what Predictable Pricing includes, available accommodations, and potential additional charges. We encourage families to ask questions and understand the full cost before making a decision.
For questions involving insurance coverage, taxes, investments, or other personal financial matters, families should also consult the appropriate insurance provider, financial advisor, tax professional, or government agency.
Learn more about eligibility for our all-inclusive, fixed-rate program at McKnight Place. Contact a Leasing Counselor today.