Author: Jackie Smart
Reviewed By: Kristi Bickmann
Medicare Advantage Plans do not cover assisted living. However, depending on the individual policy, a plan could help seniors pay for some of the services offered by residential care communities.
Of the 60 million American seniors enrolled in Medicare in 2023, 51% also have Medicare Advantage plans, an increase of 8% from 2022. With so many older adults choosing the additional coverage offered by Medicare Advantage, beneficiaries must understand what services their plan covers. When these insurance plans fall short of covering the full costs, seniors need to find other ways to pay for assisted living.
Otherwise known as Medicare Part C, Medicare Advantage is a health insurance policy for seniors aged 65+. In 2024, there are more than 8,500 Medicare Advantage plans on offer, with the average senior having 287 to choose from for their county.
Advantage plans must offer the same benefits as Medicare Parts A and B, including:
In addition, these policies include extra benefits designed to help seniors remain in their own homes. Benefits vary by policy but may include the following:
Although Medicare Advantage doesn’t cover assisted living directly, seniors can potentially use it to help pay for some services, especially if they can establish that their homes are within a residential care setting. However, fees for bed and board, organized activities and meals are not covered by these plans. For these expenses, assisted living residents must look for other ways to finance their stay.
With Medicare Advantage not covering an actual stay in an assisted living community, seniors may have to consider financing options, such as:
