A Guide to Paying for Assisted Living
Assisted living is a great option for you or your loved one who wants to continue to be as independent as possible while also receiving assistance now and then with medication management, daily grooming, transportation, exercise and physical therapy, etc.
Assisted living is a great option for you or your loved one who wants to continue to be as independent as possible while also receiving assistance now and then with medication management, daily grooming, transportation, exercise and physical therapy, etc. from trained and caring professionals. Many high-quality assisted living communities, such as Solterra Senior Living, are available and offer a wide range of care and services, including many opportunities to socialize with other seniors.
For seniors on a fixed income or with limited resources, the cost of quality assisted living communities can seem daunting at first. Many families are able to afford this type of care by combining personal funds with various forms of assisted living financial assistance.
The following is a list of resources you might find helpful when figuring out how to pay for assisted living:
In Arizona, Medicaid has a program for seniors over 65 who require additional medical care known as the Arizona Long Term Care Services (ALTCS). This health insurance sometimes covers some of the medical costs associated with assisted living such as medication management, nursing care, diagnostic exams, and preventative check-ups.
Discussing your situation with a Medicaid planning professional is a good place to start. The American Council on Aging provides a free service to help you locate a Medicaid planner who can walk you through eligibility requirements and benefits.
Long-Term Care Insurance
Most long-term care insurance policies cover at least some of the costs associated with assisted living. If you already have a policy in place, check to see what is covered. If you don’t yet have a policy and are interested in one, the American Association of Long-Term Care Insurance can answer any questions you might have as you research this option.
If you are a veteran or the spouse of a veteran, you may qualify for special assisted living financial assistance. The Department of Veterans Affairs offers a tax-free benefit to offset the costs of long-term care in assisted living communities for veterans and their surviving spouses who require assistance with daily activities. Contact American Veterans Aid to see if you qualify for the Aid and Attendance Benefit.
Advice From a Professional
It can be helpful to talk to a professional when researching assisted living financial assistance options. Financial advisors, attorneys who specialize in elder care, or insurance agents can all be valuable resources. Staff at Solterra Senior Living communities can also walk you through financial solutions to make assisted living a reality for you and your family. These financial professionals can help you consider all your other options, including:
Wherever you are in the process of exploring assisted living financial assistance, feel free to contact us at Solterra Senior Living to ask questions, take a tour of one of our communities, and find out more about how assisted living helps seniors live well!