Paying for Senior Living
There are several ways to pay for assisted living – probably more than you initially thought. When you choose Sundale, you can combine any of the following methods to cover the monthly cost:
It’s important to note that each payment method listed above has specific requirements and criteria. Read our blog post on the topic – How to Pay for Senior Living – to learn more.
Former active service members and their spouses can apply veterans benefits to their residential care. If you or your spouse has a service-related injury or diagnosis, your veterans benefits can cover assisted living.
Additionally, if you or your loved one is a disabled service member and your income is below a predetermined amount, you can leverage Aid and Attendance benefits. To learn more about veterans benefits through the United States Veterans Administration, read our blog post, How to Apply for VA Assisted Living Benefits.
Medicare, Medicaid, & Assisted Living
Although Medicare and Medicaid help cover health care costs, they don’t apply in several situations. In Texas, Medicare doesn’t cover senior living expenses, and Medicaid only applies to a specific type of community with stringent requirements.
Since the Medicare government program typically covers short-term services like hospital stays, home health care, and other related programs, the long-term nature of assisted living makes it ineligible for coverage. On the other hand, Medicaid was created for those with limited financial resources. As a result, eligibility is also limited, and communities accepting the program have a select number of designated living spaces for qualifying residents.
The Cost of Assisted Living vs. Staying at Home
Older adults and their families often believe staying home costs less than moving to an assisted living community because they’ve secured affordable rent or paid off their mortgages. Although lower rent and paid-off mortgages do equate to lower monthly costs, assisted living communities provide several amenities and services within a single payment that would be considered additional if living at home.
Each homeowner or renter’s costs differ, but older adults living alone likely also have the following expenses: