Assisted living is designed for people who need some assistance with daily activities but do not require the level of care in a nursing home.  A place like this is often referred to as an Assisted Living Facility.  In addition to housing, which can be a private or share a bedroom to a full apartment, services may be provided such as personal assistance, meals, and housekeeping/laundry.

There are many ways that people use to cover the cost of Assisted Living.

•      Personal Savings

•      Home Equity – Reverse Mortgages

•      Long-Term Care Insurance

•      Veteran’s Benefits

•      Life Insurance and Conversions

•      Medicare – Medicare doesn’t cover long-term care in an Assisted Living Facility but some services may be able to be covered such as physician ordered Physical or Occupational Therapy, Home Health, or Durable Medical Equipment such as a shower chair or walker.

•      Medicaid – Medicaid will not pay for the cost of Room and Board but may be able to pay for personal care services, case management, transportation to medical appointments, and personal medical alert systems.  Many states have Home and Community Based Waivers.  Info can be obtained through your local County Social Services or your states Council on Aging.

     You may be able to take tax deductions for Assisted Living expenses.

Below is a link from National Council on Aging…information is for all ages.

https://www.ncoa.org/adviser/local-care/assisted-living/#:~:text=The%20national%20median%20rate%20for,caregivers%2C%20this%20cost%20is%20prohibitive.&text=Assisted%20living%20facilities%20are%20not,nurses%20(RNs)%20on%20staff.