"How do I pay for the costs of assisted living?"
“If you are new to navigating options for assisted living, you are probably going to find that cost is definitely a major determinant in finding a new place to call home. You may be thinking “What are the options for being able to afford this?”
There may be financial options to consider to help offset the cost of assisted living care.
Veterans Aid & Attendance
Who may qualify?: Veterans and their surviving spouses.
Many veterans and surviving spouses of veterans may be eligible. Through an application process with the Department of Veteran Affairs, some individuals may qualify for financial assistance to help offset the costs of assisted living or memory care. The VA considers an individual's medical conditions, their need for physical assistance with activities of daily living, as well as their finances. For more details or recommended VA contacts to navigate this process, give us a call. We would be happy to connect you!
Be aware that application processing times can vary. In some cases, veterans have experienced anywhere from 6 to 8 months of processing time. For a more accurate idea of processing times, consult with a veteran’s service officer.
Long-Term Care Insurance
Some individuals have paid for private, long-term care policies to help them offset the cost of care as they age. In most cases, these policies provide a benefit for care in assisted living communities. Keep in mind: No two long-term care insurance policies are the same! We have come to find that policy benefits are very dependent on what each individual elected with their insurer.
In general, most insurers will have definitions, or criteria, that they require the covered individual to meet before payment coverage can be realized. Some policies may also have introductory periods where there will be non-payment for the first 30 to 120 days of care. One important fact to mention, long-term policies will never pay assisted living communities directly. Policyholders will receive payment directly from their insurer. No exchange of monies takes place between our community and your insurer.
In every case, we provide our licensing information to each insurer. Additionally, we work with each policy manager to ensure they get the reporting forms and information they need to continue to process monthly disbursements to their policyholders.
"I do not qualify for Veteran’s Aid and Attendance, nor do I have a long-term care policy. What other resources are there if I cannot afford assisted living care?"
MI Choice (Medicaid) Waiver
Each region of the state of Michigan has a contracted agency in charge of determining an individual’s MI Choice (Medicaid) Waiver eligibility--our region (Greater Kalamazoo, MI) is managed, under contract, by Senior Services Inc. When considering eligibility, call and ask to speak with the MI Choice Waiver team to start the assessment and learn about the qualification process. Both asset and income thresholds exist in order to qualify for this aid. Physical needs are also considered. Waiver benefits can potentially cover care costs for care services in the home setting or in a limited number of participating assisted living and memory care communities in the Greater Kalamazoo area. Unfortunately, Vineyard Assisted Living does not accept MI Choice Waiver as a form of payment for services.
In any effect, paying for assisted living care can be one of the biggest facets of making your decision. If you have additional financial questions or need help in making connections with the Veteran’s Administration or the local MI Choice Waiver team--Give us a call. We would be happy to assist.