How Life Insurance Can Help Pay for Assisted Living
Most families don't know this: a life insurance policy your parent has been paying on for decades can become a source of funds for...
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There are many senior living communities on Long Island, and each is a bit different. To provide some general guidance, the communities provide a private apartment for each senior within the building. The apartments range from multi-bedroom, high-end apartments to modest, one-room studios. In almost every community, though, the apartments are not intended for 24/7 occupancy. Rather, meals, snacks, and all activities are provided in common spaces for all residents. Communal activities, meals, and services serve two important goals: 1) Socialization, and 2) The opportunity for the staff to observe and potentially support residents. The days can be as relaxing or as busy as a resident wants—it is not uncommon for a community to schedule ten or more activities each day.
Assisted Living and Memory Care Communities provide support with the activities of daily living (ADLs). These include dressing, showering, toileting, transferring, escorting, and other day-to-day activities. Some people need little or no help with these activities, and others need very routine and regular help. Most senior care communities include some amount of time dedicated to these ADLs with the monthly rent, with additional charges applicable as the time needed to support these ADLs increases. In addition, meals, room cleaning, and laundry are also provided as part of the monthly rent charge. Some residents in Assisted Living and Dementia Care Communities require a very high level of support with ADLs. In particular, residents with Alzheimer’s disease and other neurological conditions may require total assistance, including feeding, complete continence management, and ambulation via wheelchairs. Some people without cognitive difficulties but with multiple physical challenges need this higher level of support, too. This level of care is not available in every community, though, and Assisted Living Locators can be particularly helpful in matching seniors with the right community for these high need activities.
The basic costs, often referred to as ‘rent,’ range from about $3,500 per month and can go over $12,000 per month. The differences in cost are based on the type of community, the services required by each resident, the features and amenities offered, and the overall environment of the community. Some communities also charge extra to support medication management, and others charge extra if the ADL support exceeds certain time thresholds. This is an area where a skilled and local senior care advisor like Assisted Living Locators can truly help.
Most communities present the resident or their family with a monthly bill. The senior/family is responsible for paying the bill and managing their own finances. Typically, there is little acceptance of any benefits directly by the community. The payment sources often utilized by seniors and families include: Social Security Retirement Payments Veteran’s Cash Benefits Pensions Long-Term Care Insurance Resident Savings Money From the Sale of a Primary Residence Life Settlement and Other Income Sources
No, Medicare does not pay for any of these three types of communities.
More and more communities are now accepting residents with pets. Some charge a fee at move-in to cover the cleaning and carpet replacement they will do at the end of the rental period, and others collect a deposit or charge a monthly fee. Some communities only allow either cats or dogs, while others allow both. Most communities have a weight limit for dogs. All communities require that residents be able to completely care for their pets or employ outside services to do so.
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