An assisted living facility is a place for senior citizens who need a little help with their day to day activities, but at the same time can live independently. You could say it is a nursing home and an independent home rolled into one facility. The seniors receive help with certain activities they are unable to perform on their own such as bathing, going to the toilet and even eating. Most of these facilities have nurses and caregivers on call 24 hours.
How Do We Pay For These Facilities?
The government funds some of these assisted living facilities. But in most cases, these facilities accept only private pay, meaning you have to pay for the lodging, food and other services that the resident receives. This amount could range from $1000 to $4000 depending on the facility. In some states, you can get help through insurance programs like Medicaid or Supplemental Insurance known as Medigap. Assisted living is also covered by certain long-term care insurance plans. Medicare is a policy that covers only hospitalization and doctors charges. It does not pay for assisted living facilities under any circumstances.
Are You Eligible For Medicaid?
Medicaid is an insurance program that provides medical aid to some people who are eligible to receive it. You need to check with your local health care centre on the eligibility criteria as it differs from state to state. There are certain income levels that make you eligible for this program. You need to be in a low-income group to be eligible. For instance, your monthly income should not be more than around $500. Your total asset value should not be more than around $2000. This is just an example of the criteria you may need to meet. As I have mentioned earlier, you will need to check with your local health care centre for exact rules for eligibility.
How Does Medigap Help You?
Medigap is a supplemental insurance program that covers costs that Medicare does not pay for. As mentioned earlier, Medicare does not cover assisted living facility costs at all. But if you purchase a Medigap policy along with it, then you can cover some of the health care costs at the facility. There are 10 different Medigap plans you can choose from depending on what costs you want covered. Again you will need to check with your local insurance company because the price and benefits of these programs vary in each state.
Is Long Term Care Insurance The Best Option?
Long-term care insurance covers a broad range of services such as nursing home care, adult day care and also assisted living facilities. Anyone, young or old, can be eligible for long term insurance. But it is mostly the seniors who will benefit from this as they are the ones most likely to require long term care.
Choosing the best assisted living facility for yourself or your family member may seem a daunting task. It helps to use a professional checklist so you can decide on the facility that best suits your needs, service wise as well as cost wise.