Paying for Assisted Living: When Siblings Split Costs, What Is Fair?
There are many options for the care of our aging parents, but most of them are costly. There was a stretch of time during my parents’ lives when Dad needed nursing home care, but Mom was getting by living independently in her apartment with my help. Since she had access to an elevator and she wore a medical alert device to call for assistance, she was generally okay. However, it was clear her needs were escalating, so we started looking at assisted living communities. The cost of different facilities varied widely.
Many families are faced with these difficult decisions. Aging parents, whether in the old family home or an apartment alone, come to a point when they are no longer safe living on their own. They need some assistance but do not require nursing home care yet. So, the search for assisted living begins.
Assisted living facilities range from small adult foster homes that care for three or four seniors to swanky retirement campuses with several options for aging in place, meaning that different levels of care can be purchased as needed. Seniors with good pensions and investment income often opt for the more opulent settings and can pay for the services. It’s wonderful to see people be able make these choices without a lot of worrying over their finances.
Unfortunately, the average aging couple relies on some savings and their meager Social Security retirement benefits to fund their care. This usually isn’t sufficient to pay for assisted living for more than a year or even a few months. Upon making this realization, families begin researching options for financial assistance and contemplating how their aging loved ones are going to afford the care they need.
Programs to Help Pay for Assisted Living Are Limited
Many people mistakenly think that Medicare will help cover these costs, but Medicare does not pay for assisted living. On the other hand, Medicaid does cover certain types of long-term care services. Specific programs vary by state, but most state Medicaid programs offer some sort of financial assistance with the costs of…
Discover the Difference. EGOSAN: The premium incontinence brand caregivers love – Now Available on Amazon.
Support a caregiver or jump-start discussion in support groups with real stories – for bulk orders of Minding Our Elders e-mail Carol
Minding Our Elders: Caregivers Share Their Personal Stories.
“An inspiring read for caregivers! Minding Our Elders is a series of stories about caregiving. But it is much more than that. It’s a book that helps us view aging and community through the lens of someone well versed in eldercare. Author Carol Bradley Bursack has been a caregiver for a neighbor and six elderly members of her family. These experiences made her the perfect person to interview and share the stories of friends and acquaintances. Through crisp writing and a sharp focus, we enter the lives of those struggling to care for loved ones with dementia and other age-related illnesses. As I read Minding Our Elders, I felt myself filling up with both appreciation and admiration for those who adopt the caregiving role. In addition, I was struck with the inherent value Carol sees in our elders. This is a well-written book that will stir your heart!” …Ann C
