When considering alternative living options for those over 65, one of the many factors that can come across your mind is cost. Unfortunately, paying for care is often overlooked and not addressed until needed. Once you consider the level of care, location, and potential caregivers it can be incredibly intimidating to start making decisions.
In 2021 according to the Genworth Cost of Care Survey, the average cost of a private one-bedroom unit in an assisted living facility was $4,500 per month. With prices that high, it is common to seek assistance in covering those fees.
Fortunately, there are many ways people can pay for assisted living and in some situations, you can even combine multiple methods of payment. Bay Vista Assisted Living offers many plans and services to create the perfect plan for your loved one.
Medicare v Medicaid
Medicare is a federal health insurance program that does not cover the cost of any form of long-term care. Medicaid is another federal health insurance program that does cover long-term care to an extent. Seniors who have both programs are considered dually eligible, meaning they can use both to cover certain costs of their long-term care services. Don’t completely write off medicare though, as it is critical in covering medical services in assisted living facilities.
Does Medicaid Pay for Assisted Living?
For starters, there isn’t one long list of the services Medicaid does and doesn’t cover because it varies by state. Not to mention, all assisted living facilities aren’t the same and therefore the programs seniors enroll in are also unique to them and the facility they live in.
The basic services that most Medicaid programs cover are personal care and housekeeping services, transportation, personal emergency response systems, and case management. However, it is important to note that these listed services might not apply to those living in an assisted living facility. In order to get around this, there are waivers that seniors can apply for that will allow them to receive those services while remaining within the comfort of their own homes.
What Medicaid Doesn’t Cover
One of the things Medicaid doesn’t cover is room and board. It only covers seniors with limited financial resources and it can be a challenge to find additional ways to cover services for your loved one. One of the tools you can use to help in covering the cost of room and board is called a Supplemental Security Income (SSI). Certain states place limits on the amount assisted living facilities can charge for room and board, which in turn lowers the cost a Medicare beneficiary would pay out of pocket.
Seniors with a dementia diagnosis aren’t guaranteed eligibility for coverage. There are certain assessments required to get approval for coverage and some assessments focus more on what you can see rather than factors such as verbal cues or the level of care your loved one will need. In other words, there is a strong emphasis on physical impairments over anything else.
Bay Vista Assisted Living and Cost
We understand how expensive paying for an assisted living facility can be. Luckily, we offer many plans and options that seniors and their families can use to cover costs. Bay Vista Assisted Living prioritizes offering the best care in the Long Beach area in the most affordable way. There are many ways in which medicare does pay for assisted living, but not on its own. To explore additional payment options we offer at our facility, visit our website or give us a call today!