Assisted Living in Panama City, FL

Assisted Living Costs in Panama City

The average monthly cost of assisted living in Panama City is $4,200, which is higher than the state ($3,500) and national ($4,000) averages. Genworth’s 2018 Cost of Care study shows that prices in nearby cities are $4,096 in Pensacola, $4,195 in Crestview and $4,339 in Tallahassee. Statewide, the cost of assisted living starts at $2,808 in Lakeland and goes up to $5,448 in Naples. 

The Cost of Assisted Living in Surrounding Areas

Care Cost Comparison

Senior care costs are largely based on the level of care needed, which is why semiprivate nursing home care with around-the-clock medical assistance is the most expensive option at $7,452 per month.

In-home care options, such as homemaker or home health aide ($4,385), cost $185 more than assisted living services, and at $4,200 per month, assisted living is the least-expensive residential care option for seniors, as the price includes accommodation, meals and home maintenance. 

Senior Care Cost Comparison Chart

Financial Assistance for Assisted Living in Panama City

Medicaid in Florida

Medicaid is the nationwide health coverage program that was established on July 30, 1965, extending health services to those who have a low income and minimal assets. Jointly funded by federal and state governments and administered by each state, Medicaid provides primary, emergency and long-term health services at no cost to individuals who meet coverage criteria. 

In Florida, Medicaid is administered by the Agency for Health Care Administration. Florida residents who qualify for Supplemental Security Income benefits are automatically enrolled in SSI-Related Medicaid coverage.

To qualify for no-cost Medicaid with long-term care coverage, seniors aged 65 and older can earn up to $2,313 per month ($4,626 per couple) and own up to $2,000 worth of countable assets ($3,000 per couple).

Some specific assets are Medicaid exempt, including a home that the applicant and/or their spouse lives in that’s worth up to $585,000, a non-revocable burial trust, one vehicle and personal effects, such as clothing, collectibles and household furnishings. 

If only one spouse is applying for long-term Medicaid, the non-applicant spouse, known as the community spouse, can own up to $126,420 worth of the couple’s countable assets. The non-applicant isn’t expected to pay their spouse’s care costs, therefore, the income of the community spouse isn’t considered. 

Qualified Income Trust

Seniors with earnings that exceed Medicaid income limits may be able to establish a Qualified Income Trust to enroll in Medicaid. 

Commonly called a Miller Trust, a QIT is an irrevocable legal agreement between the applicant and the state. Income that exceeds the Medicaid limits, exempt is a personal needs allowance of $130 and any money paid towards the community spouse income, is deposited into the QIT. 

The state is named as the beneficiary, and when the trust holder dies, the state is paid back for any care provided to the senior through Medicaid. 

For more information on Florida Medicaid and the QIT program, contact ACCESS Florida, Northwest Region at 866-286-3609.

Statewide Medicaid Managed Care Long-Term Care Program

Florida Medicaid participants aged 65 and older who require the level of care normally given in a nursing facility may qualify for community-based, long-term care services provided within an assisted living facility under the  Statewide Medicaid Managed Care, Long-Term Care Program. 

The SMMC LTC is a nursing home diversion program that allows seniors to age in place in a community setting by funding enhanced medical and nonmedical care and supports, such as: 

• Personal care
• Access to an emergency call system
• Homemaker services
• Transportation
• Physical, occupational and speech therapy

For more information on the SMMC LTC or to request a CARES assessment, contact the statewide Elder Helpline at (800) 963-5337.

Other Financial Assistance Programs for Assisted Living

Optional State Supplementation

Seniors who receive Supplemental Security Income benefits and have been certified by an Aging and Disability Resource Center as needing placement in a licensed assisted living facility may qualify for the Optional State Supplementation Program. 

The OSS provides cash benefits to qualified individuals to assist with the room and board portion of assisted living costs. Single seniors may be provided with up to $78.40 per month and couples up to $156.80 per month in OSS funding. 

For more information on the OSS, contact ACCESS Florida at (866) 762-2237 or the Social Security Administration at (800) 772-1213.

VA Aid and Attendance Benefits and Housebound Allowance

Veterans and survivors who collect regular VA pension payments and have a life-limiting disability or chronic illness may be eligible for a higher pension rate under either Aid and Attendance or the Housebound Allowance. 

To qualify for Housebound, applicants must have a permanent disability that limits them to their principal residence, which may be an assisted living facility. 

To qualify for Aid and Attendance, applicants must meet at least one of the following criteria: 

• Have concentric contraction of the visual field tested at 5 or fewer degrees
• Be a resident of a nursing facility as a result of mental and/or physical deterioration
• Spend a large portion of each day in bed due to a chronic illness or disability
• Have corrected eyesight tested at 5/200 or worse
• Need help every day performing one or more tasks of daily living, such as getting dressed, adjusting a prosthetic device, bathing, using the toilet and/or eating

Note: Benefits from these two programs cannot be combined, and qualifying medical conditions don’t need to be linked to military service. Veterans who already receive VA disability benefits are excluded. 

To apply for Aid and Attendance or Housebound, contact the Bay County Veteran Service Office at (850) 248-8280. 

Assisted Living Resources in Panama City

Senior Center

The Panama City Beach Senior Center offers year-round social events and activities for seniors, such as dances, card games, special interest clubs and exercise groups. 

Panama City Beach Senior Center
423 Lyndell Ln., Panama City Beach, FL 32407
(850) 233-5065

Community Aid Agencies

Low-income seniors who are unable to use the regular, fixed-route public transit service due to disability may qualify for the Bay Area Transportation Demand Response, a door-to-door, shared ride service.

The Bay County Council on Aging provides seniors with information about local resources and referrals to Meals on Wheels and daily nutrition programs. 

Bay Area Transportation Demand Response
919 Massalina Dr., Panama City, FL 32401
(850) 785-0808

Bay County Council on Aging
1116 Frankford Ave., Panama City, FL 32401
(850) 769-3468

Veteran Services

Bay County Veterans Services helps veterans, survivors and dependents apply for VA benefits, such as Aid and Attendance and Disability and burial benefits. 

Outpatient VA health services, including primary care, dental, radiology and women’s services, at the Panama City Beach VA Clinic are part of the Gulf Coast Veterans Health Care System. 

Bay County Veterans Services
840 11th St., Panama City, FL 32401
(850) 248-8280

Panama City Beach VA Outpatient Clinic
2600 Veterans Way, Panama City Beach, FL 32408
(850) 636-7000