How to Pay for Assisted Living Care

We spend our lives working and paying into Social Security and Medicare. Thinking that when we get old and need care medicare will pay the bill. I have bad news for you, medicare is not the answer. The other reality is that in North Texas assisted living care prices have increased over the last few years. Many facilities now start at $6000 per month and memory care at $10,000 per month. Let us explore the reality of payment options for assisted living care in the United States and specifically Texas.

According to https://www.medicare.gov/coverage/skilled-nursing-facility-care medicare pays for skilled nursing care at a facility. Sounds great until you read the rest of the information. You must first have a qualifying 3-day inpatient stay at a hospital. The next bad news is that you only get up to 20 days, from day 21 to day 100 you pay $204, and after day 100 you pay the whole bill. More importantly, a skilled nursing facility is not an assisted living. Medicare does not pay anything for assisted living care.

Medicaid may pay for assisted living in Texas if your income falls below a certain level and your savings have been depleted. There is a process to getting approved for assistance through Medicaid and the waiting list for a Medicaid room at an assisted living can be long. I recommend consulting an elder law attorney for information on how to safeguard assets for a surviving spouse. Medicaid also has the right to get assets from a person's estate to recoup the cost related to their care after their death. Another reason to contact an elder law attorney is to find out about a Lady Bird Deed to protect your house.

Long-term care insurance will pay for assisted living care. It is important to read your policy and see what qualifies you to receive benefits. I have done many nursing assessments for long-term insurance companies over the years and heard frustrating stories about the struggle to get companies to approve payment. We at Abiding Joy Senior Care Home have had people use their long-term care insurance benefits to pay for their care.

For many Americans, private payment from savings or retirement accounts is the source of payment. Prices for facilities can be staggering. It is important to ask detailed questions about how the monthly rate is determined and what will cause the rate to increase.

Here at Abiding Joy Senior Care Home, we try to help families by keeping our rates affordable. We have a tiered pricing structure based on the amount of care needed. We believe in being upfront about our prices. We tend to be less than the big facilities to help seniors find a more affordable option for assisted living care. Call Karen at 682-231-2449 to schedule a tour.