As you begin creating a budget to understand affordability, it’s best to start by having a clear understanding of all personal resources that are available. Over the years, you may have acquired assets, saved money or bought insurance policies. You may also have money in a savings account, 401k, stocks, bonds, CDs, or others, which you can draw down on to pay for ongoing care needs.
Financial Options for Affordable Senior Living
Deciding to move to a senior living community is a big, yet exciting, step in life. You can live a maintenance-free lifestyle with access to social opportunities and care when you need it. As you prepare for this next chapter, you may wonder how you will pay for it. Many financial options exist to fit the needs of any resident’s situation.
At Vista Prairie at Monarch Meadows we’re here to help guide you. Our trusted financial experts at ElderLife Financial and AidandAttendance.com work with you and your family to determine which resources are available to you and the best options for moving forward. Below you can learn about some of the financial solutions families leverage to pay for senior living.
Get Financial Assistance
When you don’t have immediate access to all the funding you need for moving into a senior living community, there are many financing options that can help.
Other Financial Solutions
There are other ways to access funding to pay for senior living that are not paying out-of-pocket or financing. Below are some ways that people can get help paying for senior care, including Medicare and Medicaid.