Financial Options

Figuring out how to pay for senior care can be a very tedious and confusing process. It is hard enough to keep the twin terms “Medicare” and “Medicaid” straight, let alone figure out what they actually cover.

Many senior care communities will accept Medicare and Medicaid payments, while others will require the entrance fees and/or monthly charges to be paid for privately. Other communities will require a certain period of time of private payments before Medicare of Medicaid will be accepted.

Because sorting through your payment options is a very complicated process, it is best to consult with a professional about how you plan to pay for long-term care. You can talk with your lawyer, accountant, a professional care coordinator, or ask for help at your Area Agency on Aging.