There are many myths around assisted living costs, with the most frequent being that assisted living costs too much money. In fact, there are plenty of different ways to make assisted living more affordable, from Medicaid to insurance payouts to loans from friends and family members to income from social security. However, it’s important to understand the pros and cons of these different approaches in order to choose the right one for your particular situation. Here are some of the most common myths about assisted living costs and what you can do about them.
The Cost Of Living In An Assisted Living Facility Is Too High
One common myth about assisted living is that it’s a costly option. That’s not necessarily true. If you are on a tight budget, care at home or in a retirement community might be your only affordable choice. However, that doesn’t mean that you have to sacrifice your lifestyle completely. There are many types of assisted living facilities with pricing options for nearly every budget. It’s also worth considering long-term care insurance, which covers part of expenses in most cases and is relatively inexpensive if it can prevent even one year of costly care at a nursing home or other facility later on down the road.
A Primary Caregiver At Home Can Be More Affordable Than Sending Them To A Nursing Home
It’s certainly possible to be your loved one’s primary caregiver, but it can cost you. It costs money to take time off work, pay for carpooling for seniors who don’t drive, and buy extra food. As your loved one grows older, they may need more care, which means that these expenses will increase. One of the most common myths surrounding assisted living is that it costs more than staying at home with a caregiver, but in fact, it can save money if it allows your loved one to remain independent while having access to medical support and emergency response 24/7.
Medicare Will Pay For Assisted Living
The government program does pay for nursing care, but it doesn’t cover room and board at assisted living communities. Instead, you might want to look into Medicaid and other state assistance programs. Some states also have a waiver system for funding non-medical services in assisted living, such as meals and personal care assistance. This is one of those myths that just won’t go away. As with all insurance, Medicare pays only for specific services related to a particular illness or disease. For example, it covers skilled nursing care if you have a severe health problem. In other words, Medicare provides medical care, not custodial care or adult day services, for those who do not need skilled nursing care but require assistance with personal activities of daily living (ADLs). Only Medicaid will cover these costs, and assisted living facilities cannot bill both programs at once because they conflict in coverage areas. I
Veteran Benefits Are Only Available To Injured Veterans
This is a very common myth and one that can be easily dismissed. Nearly all veterans who served in combat qualify for health care through Veterans Affairs, and spouses and children of deceased veterans may also qualify. You do not have to be disabled or injured to receive medical treatment; however, you need to prove honorable discharge from your service. Those who didn’t serve may still be eligible for medical coverage if they meet specific income requirements or are unmarried surviving spouses of someone who died due to their military service. If you might qualify for veteran benefits, contact your local hospital directly to verify your eligibility and set up an appointment.
