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Does Long-Term Care Insurance or Medicare Cover Assisted Living?

Long-term care insurance, personal assistance and family support are options for paying for assisted living.

As they get older, many people consider moving into an assisted living facility – and how they could pay for it. It's an issue that affects tens of millions of people in the U.S. Overall, about 70% of people who are age 65 or older today will need some kind of long-term care, according to long-term care estimates by the federal government.

An assisted living facility helps residents manage the tasks of daily living, such as cooking, bathing, cleaning, doing laundry and toileting.

Depending on the level of care that’s needed and the specific services you’re paying for, the monthly cost of entering an assisted living facility generally falls between $4,500 and $6,500 a month, says Roxanne Sorensen, owner of Elder Care Solutions of WNY in Buffalo, New York, a case management consultancy. In addition to owning Elder Care Solutions, Sorensen is also an aging life care specialist, which is “a health and human services specialist who helps families who are caring for older relatives,” according to the Aging Life Care Association (formerly the National Association of Professional Geriatric Care Managers).

The cost is higher for two people who move together into assisted living. The cost may be the same for both individuals, or there may be a discount for the second person. Read entire article by Ruben Castaneda Let's discuss your long term care insurance, contact us now.


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