Answer: Assisted living care is a valuable option among the resources for the elderly. However, it is estimated that only ten percent of seniors in the U.S. receive Medicaid.
That means that the majority of those funds are coming from private sources. For this reason, many families are burdened by the long lasting cost of health care for their senior loved ones.
As the elderly population increases, so does the need for resources and funding to care for them. Having a senior live into their 70s, 80s and 90s becomes a mixed blessing when their retirement savings are depleted, or their insurance policies no longer provide coverage.
Before your family members consider accepting the financial burden, other options should be explored to minimize risk to everyone involved.
Assisted Living Care Alternative Options
Move the Senior Member into Your Home – When your family needs to make room for an elderly family member, it is possible that you use another family member’s home. When doing so, you can supply most of the benefits of assisted living care, but at a more affordable price.
The other gratifying part about having a senior in your family’s home is that they are close to their loved ones, and will feel more secure. It’s not a way to get funds, but it is a way to save money.
Home Visit Programs – Many hospitals and other health facilities in some communities provide home visit programs so that seniors can receive their medical and dental care from licensed doctors and certified nurses at home.
These programs are usually covered with insurance, and some are covered by Medicaid. When needed, nutritionists, physical therapists, as well as other specialists also visit and treat seniors.
Ask for Financial Assistance – If your senior family member is a resident in an assisted living care facility, concerned relatives should schedule a meeting with the facility administrator or other representative.
They have usually helped countless seniors, and their families navigate through the crisis after they have exhausted savings and funding or limited insurance funds. Their resources will most likely help connect financially strained seniors to local, state, or government assistance programs.
If qualified, your senior family member may continue to benefit from assisted living, even if he or she needs to move into another facility.
When helping a senior who has limited finances, it is time to swallow your pride. It might be uncomfortable, even embarrassing to start a conversation about where your family is going to get the needed funds to help take care of your loved one.
Yet, families should feel no shame when researching options for their elderly relative.
If you meet with a facility administrator or a hospital social worker, it might reveal the perfect set of options that will allow assisted living care to continue.
Paying for assisted living care is often seen as a challenge, but with the right amount of planning and foresight, it can be an affordable option for many seniors.
