Your retirement years should be enjoyable, fulfilling, and precisely what you imagined. Although paying for assisted living is frequently a concern among potential residents, money shouldn’t keep you from the quality of life you deserve. That’s why we at Sundale Senior Living in Huntsville, TX, accept numerous payment methods and can walk you through a financial worksheet to ensure you have access to the life you desire.
Contact us today to speak with our Executive Director, who would happily answer your questions.
How Much Does Assisted Living Cost?
The cost of assisted living varies based on location, floor plan, amenities, and level of care. Sundale offers several floor plans, world-class amenities, and need-based services at various price points.
Although the monthly cost differs from one resident to another, each individual receives the following benefits and an opportunity to thrive in retirement:
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:
You can pay for assisted living out of pocket, whether that be through personal savings or from family contributions.
Potential residents can pivot an existing life insurance policy toward living expenses or utilize a “life settlement” where a third party’s premiums cover the cost.
Those with established long-term care plans can designate payments toward living expenses, which can go directly to the community or to a beneficiary who then pays the community.
Reverse mortgages allow you to cash out your house’s available equity, whether in full or a series of monthly payments that then transfer to the assisted living community.
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.
Veterans Benefits
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:
- Property taxes & utilities
- Food & groceries
- Transportation
- Home maintenance
- Lawn & yard maintenance
- Housekeeping
- TV & internet
- Home security
- Safety measures
- Entertainment
- Home care & private help
- And more.
Even though the cost of assisted living may seem high at first glance, it’s comparable to what you’re already spending and includes much more. Check out our blog post – Comparing the Cost of Senior Living vs. Staying at Home – to learn more.
The Lexington Center staff are very friendly to everyone who comes in. You can tell immediately that they love the residents because they love what they do. There is always just “happy” noise in the atmosphere. The community has beautiful, Southern Plantation decor and architecture. The rooms are spacious and the common areas are beautiful as well with lots of windows and feels open with lots of sunshine!
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It’s a really great place to work at. The staff are really joyful to work with everyone works as a team and gets along great with each other. The main reason I work there is because the residents are so happy there you can tell they really enjoy the community and how well thay are looked after by the nursing staff we all go the extra mile to make them feel right at home.
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When I moved here, I didn’t know what to expect since I’d never lived anywhere but home. From the very start, I felt nothing but absolute concern and interest in my health and well-being. There has never been anytime that I’ve doubted I was in the right place.
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The staff and administration at Sundale are simply outstanding. I feel so blessed to be here with such caring people.
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I have been so impressed by the compassion and care the staff has for residents. The relationships are truly that of family. I can’t imagine a better place for late in life care.
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Sundale Can Help Make Moving to a Senior Living Community Hassle-Free
At Sundale Senior Living, we aim to smooth the transition to assisted living. When you visit our renovated community for an in-person tour, we’ll answer all your questions and ensure you feel welcomed and comfortable.
We offer short-term respite care if you or your loved one is unsure whether assisted living is the right fit. All individuals in respite stay enjoy the same amenities and engaging programs as full-time residents – without the commitment.
If you’re interested in an in-person tour or learning more about moving to a senior living community, we’re here to help. Call us today.