08 Mar Tips to Reduce the Costs of Assisted Living
Assisted living facilities can often be a financial burden on seniors and their families. However, because few people choose to enter an assisted living facility unless it is necessary, it is not an expense that can typically be avoided. If you’re worried about the expenses associated with putting your parent or loved on into an assisted living facility, here are a few tips to help reduce the cost of many of these facilities.
Consider Different Locations
While you may have a specific city in mind, it may be worth looking at care facilities in different locations. Areas with high demand for senior care are going to have a higher price tag than those with lower demand. Suburbs or outlying communities may be more affordable than those closer to the heart of the city. While you obviously don’t want to send your loved one too far away, it may be worth driving an extra hour to visit them if it means they can get all the care and amenities they desire without going out of your budget.
Consider Opting Out of Some Amenities
Many assisted living facilities offer an “all-inclusive” price that will include a wide range of services and amenities for your parent. If the price they give you is out of your budget, as about opting out of some of those services or amenities. A lot of facilities will offer a sort of “a la carte” option for their amenities and services, so that you can pick or choose which ones your parent needs most.
Sometimes, you’ll be able to select all the services your parent needs and opt out of others to make the same facility more affordable. Keep in mind, however, that all-inclusive pricing is frequently lower than paying for services separately, unless you’re choosing to opt your parent out of quite a few services.
Medicare, Medicaid, and Private Insurance
If you’re unable to pay for assisted living expenses out of pocket, you may be able to take advantage of benefits from Medicare, Medicaid, or your parent’s private insurance. Our experts here at Best for My Parents can help guide you through the claims process to have your parent’s care expenses covered by these sources.
However, these services don’t usually pay for everything. You may want to consider long-term care insurance, or look into estate planning options to help you finance long-term care for your parent.
If your parent served in the armed forces, they could be eligible for benefits through the Department of Veteran Affairs to help cover the cost of senior care. These benefits can be used to help pay for in-home care, assisted living communities, and nursing facilities alike. Do some research to learn more about the Veterans Aid & Attendance benefit and see if your loved one qualifies.
Ask about Shared Rooms
Most senior care facilities offer both private and shared rooms. While the privacy of an individual room is nice to have, you do pay a hefty price hike to get it. Make sure you look into the costs of both individual and shared rooms, and determine if the extra cost is worth it. Remember, a shared room usually includes only one other person, and may even have dividers to give your parent extra privacy when they want it.
Consider Home Care
Assisted living facilities aren’t the only option available to help care for an aging loved one. Depending on your loved one’s needs, you may be able to consider in-home care rather than a full-time care facility. If your parent needs help with some basic tasks, but can otherwise live independently, having a care provider assist your loved one in their own home can often be less expensive than moving them to an assisted living community.
You can fill out our assessment form to determine what type of care will actually be best for your parent or loved one.
Our Silver Savings™ Program
When you work with Best for My Parents, you can take advantage of our Silver Savings™ Discount. We established this program to ease the financial strain that many people experience when faced with paying for senior care. We have unprecedented discounts from some of the best senior care providers in the country. Contact us to learn more about our Silver Savings™ Program and how it can help to reduce the costs of getting essential care for your aging parent or loved one.
If you have any further questions about our discounts, assessment, or other services, please feel free to contact us at any time.