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Money Matters

How to Pay for Senior Living

Here to help with your money questions.

Deciding on the right living choice is important. Understanding the various financial resources available empowers you to make the best decision. Certain levels of care expenses may be covered by personal savings, private insurance plans, or government programs like Medicare, Medicaid (known by different names in different states), and veterans benefits. Combining different types of payments allows you the flexibility to create a tailored solution that meets your needs.

Staying updated on the changing world of health care and payment options is key to making the most of your experience. As your needs grow and change, new payment sources or reimbursements can open up additional opportunities. For example, Medicare Supplemental Insurance becomes a valuable resource when someone receiving memory care support also needs short-term skilled nursing care. Similarly, a resident in a Continuing Care Retirement Community (CCRC) can benefit from Medicare if skilled nursing care is required, ensuring a seamless transition.

Independent Living Assisted Living Memory Care Skilled Nursing CCRC
✔Private Funds ✔Private Funds ✔Private Funds ✔Private Funds ✔Private Funds
✕ Long-Term Care
Insurance
☂ Long-Term Care
Insurance
☂ Long-Term Care
Insurance
☂ Long-Term Care
Insurance
☂ Long-Term Care
Insurance
✕ Medicare ✕ Medicare ✧ Medicare ✧ Medicare ✧ Medicare
✕ Medicaid ☂ Medicaid ✓ Medicaid ✓ Medicaid ✧ Medicaid
✕ Medicare
Supplemental
✕ Medicare
Supplemental
✧ Medicare
Supplemental
☂ Medicare
Supplemental
✧ Medicare
Supplemental
✕ Veterans
Insurance
✓ Veterans
Insurance
✓ Veterans
Insurance
✓ Veterans
Insurance
✧ Veterans
Insurance

☂ Policy - Coverage dependent on the level of care (sometimes called a qualifying event) 

✧ Care - Coverage dependent on type of policy and/or state of residence

Two people playing bocce ball.

Independent Living

Independent Living is your ticket to a life of freedom, joy, and endless possibilities. Say goodbye to the challenges of maintaining a home, and let go of maintenance, landscaping, plumbing, cooking, and cleaning worries. 

Create a fulfilling lifestyle on your terms, focusing on what matters most to you. Simply enjoy life to the fullest. Should you need additional support, our health and well-being services have you covered, providing peace of mind and customized care right at your doorstep.

Independent Living is typically financed through private funds. Various Independent Living communities may require an entrance fee and could include condominium ownership, while others offer rental options. If your long-term care insurance policy permits, supplemental health services can be covered by it. However, supplemental private insurance does not cover Independent Living expenses.


Two people with a dog on the couch.

Assisted Living

Assisted Living, also known as Personal Care in some states, offers a nurturing environment that supports individuals in their daily activities, such as bathing, dressing, meal preparation, and, when needed, medication assistance or reminders. Residents in Assisted Living communities, whether stand-alone or part of a Continuing Care Retirement Community (CCRC), can enjoy a vibrant social life through planned social, educational, and recreational programs, as well as daily opportunities to connect with like-minded peers. Delicious and nutritious meals are served three times daily.

Assisted Living accommodations are thoughtfully designed to create a warm, homelike atmosphere. Apartments are typically cozy studio or one-bedroom units with kitchenettes, equipped with standard safety features like call systems and handrails for added peace of mind.

Financing Assisted Living is made easy with options like private funds or a mix of private funds and long-term care insurance, ensuring you can focus on living your best life. However, please note that supplemental private insurance does not cover Assisted Living expenses.

A person watering flowers.

Memory Care

Memory Care is designed to cater to the unique needs of residents with Alzheimer's disease, memory loss, and dementia. Our innovative educational and social programs engage residents in daily activities that help slow memory loss while providing structured support for continuity. We offer distinct programs that address the diverse memory loss needs of our residents.

Our Memory Care neighborhoods are secure to ensure resident safety, but we also believe in fostering a sense of freedom and connection to nature. Our secured areas often include beautifully landscaped courtyards or gardens, giving residents access to the outdoors for a refreshing and uplifting experience.

Paying for Memory Care is most commonly managed through private funds, supplemented by long-term care insurance policies. However, Medicare and private supplemental insurance may cover short-term skilled nursing and rehab care that may be needed occasionally.

At our Memory Care neighborhoods, we focus on empowering lives with compassionate support and joyful experiences, creating an environment where residents can thrive and feel truly at home.

A caregiver helping a resident.

Skilled Nursing & Rehabilitation

Skilled Nursing and Rehabilitation communities offer a blend of long-term skilled nursing care and short-term skilled nursing and rehabilitation services. In addition to supporting individuals with basic Activities of Daily Living (ADLs) such as bathing, dressing, and meal preparation, these communities also provide comprehensive medical care through licensed nurses and therapists, including physical, occupational, nutritional, and speech therapy.

Accommodations in Skilled Nursing and Rehabilitation communities range from private suites to shared living spaces. Thoughtfully designed environments prioritize homelike comforts while offering social, educational, and recuperative programs to enhance recovery and healing. Skilled nursing services cater to those who need short-term medical support following an injury, surgery, or illness-related hospital stay. With 24-hour licensed care associates, your loved one is always in good hands.

Funding for Skilled Nursing and Rehabilitation community patients and residents largely depends on the length of stay. Various sources of financial support become available at different intervals. Short-term rehabilitation stays are often covered by Medicare and/or private insurance, including long-term care insurance, subject to specific criteria. For long-term care residents, typical payment methods include private funds, Medicaid, and long-term care insurance. Discussing these options with a hospital discharge coordinator can provide valuable insights into the available coverage.

Two people painting.

Continuing Care Retirement Communities

Continuing Care Retirement Communities, or CCRCs, are designed to let residents age gracefully, offering flexible accommodations that adapt to their evolving health and housing needs. Typically, CCRCs provide Independent Living, Assisted Living, Memory Care, and Nursing Care, all within a single campus. This approach fosters a strong sense of community and ensures residents won't need to move as their life situations change.

Housing options span from villas or casitas to studio apartments and often feature wellness and fitness centers, pools, spas, various dining options, beauty salons, computer centers, libraries, guest accommodations, outdoor amenities like gardens and nature trails, and transportation services. CCRCs are known for their vibrant social, educational, and recreational programs, promoting resident camaraderie and engagement. 

Generally, CCRCs require an entrance fee, which can be refundable to an individual or their estate. A monthly service fee is also payable, depending on the services utilized and the contract signed upon entering the CCRC. Payments can be made through private funds or a mix of private funds and long-term care insurance, depending on the care level. Most CCRCs also offer a Medicare-certified short-term rehab program. Some communities offer Life Care contracts, where residents pay an entrance fee and a monthly service fee, securing future health care costs, including assisted living, memory care, skilled nursing, and rehabilitation, at a predictable rate.

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