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Is There Financial Assistance for Assisted Living?
Date Updated: July 26, 2024
Written by:
Rachel Lustbader is a writer and editor with a background in healthcare and technology. Her work has been published on websites including HealthCare.com, BiteSizeBio.com, BetterHelp.com, Caring.com, and PayingforSeniorCare.com. She studied health science and public health at Boston University.
Both of Rachel’s grandmothers had very positive experiences in senior living communities, and Rachel saw firsthand the impact that kind, committed caregivers and community managers can have on seniors’ and their family members’ lives. With her work at Caring, Rachel hopes to help other families find communities, caregivers, and at-home products that benefit elderly loved ones and make life less stressful for family caregivers
Yes, there is financial assistance for assisted living. Seniors may qualify for various benefits and aid programs, including Medicaid, Home and Community-Based Services (HCBS) waiver programs, VA payments and the Program of All-Inclusive Care for the Elderly (PACE). However, most sources of financial help don’t cover full assisted living costs, and seniors must pay outstanding fees from other resources.
Medicaid, HCBS Waivers and Pace
The Program of All-Inclusive Care for the Elderly — a joint Medicaid-Medicare program — only operates in specified areas. Individuals who meet the eligibility criteria, including needing nursing home level of care but able to live in the community safely with support, may receive services in an assisted living community. The program doesn’t pay for room or board but may include help with activities of daily living, therapies, recreational activities and medical transportation.
VA Benefits
Qualifying veterans and their survivors receive an extra payment — the Aid and Attendance allowance — on top of their VA Pension to pay for essential care. Individuals can obtain such services in various settings, including assisted living facilities. Similarly, the Veteran Directed Care program funds help with everyday activities and personal care for eligible veterans in some geographic areas. Additionally, seniors who can’t live alone because of medical or psychiatric issues but don’t need nursing home care may qualify for the Community Residential Care program; funding covers services in VA-approved assisted living communities.
Other Ways to Pay for Care
Data from the National Center of Assisted Living indicates that although 1 in 5 assisted living residents receive Medicaid funding, most seniors use private funds to cover full or partial assisted living fees. Payment methods include income, such as Social Security, pensions and house rentals. Residents can also use money from savings or asset sales or use long-term care insurance, reverse mortgages and family assistance.