{"id":134,"date":"2024-07-11T19:48:09","date_gmt":"2024-07-11T19:48:09","guid":{"rendered":"https:\/\/www.asccare.com\/?page_id=134"},"modified":"2024-11-19T13:56:57","modified_gmt":"2024-11-19T18:56:57","slug":"tips-for-financing-assisted-living-for-a-senior","status":"publish","type":"page","link":"https:\/\/www.asccare.com\/tips-for-financing-assisted-living-for-a-senior\/","title":{"rendered":"Tips for Financing Assisted Living for a Senior\u200b"},"content":{"rendered":"\t\t
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Tips for Financing Assisted Living for a Senior<\/h1>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t
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Is your family beginning to explore assisted living on behalf of a senior loved one? While families are often able to support an older adult\u2019s needs at home for a while, it\u2019s not always possible to do so over the long term. Trying to balance caregiving with a career and your own family isn\u2019t easy. Your quality of life, and the senior\u2019s, will likely improve once you find an assisted living community<\/a> that is a good fit for their interests and needs.<\/p>

When families begin the search for assisted living, two questions that usually come up early in the process are how much it will cost and what payment methods are accepted. Many people are surprised to learn their parent\u2019s Medicare or other health care insurance doesn\u2019t pay for assisted living costs. Others aren\u2019t aware that there are programs available that may help make care more affordable.<\/p>

That\u2019s why we thought it was important to include this resource as part of this Assisted Living Decision Toolkit. We hope this information will help your family better understand the costs associated with assisted living and the types of funding your family member might qualify to receive.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t

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Understanding the True Cost of Assisted Living<\/h2>\t\t\t\t<\/div>\n\t\t\t\t
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As you start getting to know each assisted living community and comparing the costs, you will soon discover that every organization has its own unique pricing structure. To make certain you understand all the expenses you may incur, ask for a list of amenities and services included in the monthly fee and what additional fees you are likely to incur. You might find this Cost Comparison Chart<\/a>.<\/p>

Depending on the area of Indiana you are searching in, you\u2019ll likely find the costs can vary significantly. According to a 2021 Genworth financial survey<\/a>, the national median cost for assisted living is $4,283 per month, which is slightly less than the national average of $4,500.<\/p>

For older adults who want a large apartment or a community that offers more services and amenities, the monthly fees will be higher. The same holds true if the senior has greater care needs. Most assisted living communities assess level-of-care charges based on how much staff time each individual resident requires.<\/p>

The base fee for assisted living communities often includes:<\/p>