Senior Living Costs & Insurance: Frequently Asked Questions

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Planning for senior assisted living can be overwhelming, especially when it comes to understanding how to pay for it. Below are the most common questions we hear—from Medicare and Medicaid to long-term care insurance and veteran benefits.

  • We specialize in assisted living communities that provide personalized care and support for seniors who need help with daily activities.

  • Our focus is on assisted living. For independent living options, we recommend consulting other specialized services.

  • Costs vary by type of care. Assisted living averages $4,500/month nationally, while nursing homes can exceed $9,000/month. Help us line up options for you.

  • Payment options include:

    • Private Pay (out-of-pocket)

    • Medicare (limited, short-term)

    • Medicaid (for qualified low-income individuals)

    • Long-Term Care Insurance

    • Veterans Benefits

  • Mostly no. Medicare covers medical care—like short-term rehab in a skilled nursing facility—but not long-term custodial care (like assisted living). It may cover:

    • Up to 100 days of skilled nursing after hospitalization

    • Hospice care

    • Some home health services

  • Mostly no. Medicare covers medical care—like short-term rehab in a skilled nursing facility—but not long-term custodial care (like assisted living). It may cover:

    • Up to 100 days of skilled nursing after hospitalization

    • Hospice care

    • Some home health services

  • Medicaid can cover:

    • Nursing home care in full (if you qualify)

    • Some assisted living services through state-specific waiver programs
      You must meet income and asset limits. State programs vary.

  • LTCI helps pay for care not covered by Medicare or health insurance. It often covers:

    • Assisted living

    • Nursing homes

    • In-home care
      Policies usually activate once you can’t perform 2–3 Activities of Daily Living (ADLs).

  • You'll need:

    • A care plan from a licensed professional

    • Proof of need (based on ADLs)

    • To submit claims per your insurer’s guidelines

  • Veterans and their spouses may qualify for Aid & Attendance benefits to help with:

    • Assisted living

    • In-home care

    • Nursing facilities
      You must meet service, medical, and financial criteria.

  • Many families fund senior living using:

    • Personal savings or retirement funds

    • Home equity / reverse mortgages

    • Selling a home

    • Family contributions

    We recommend working with a financial planner if you're considering private pay options.

  • Yes. Medicaid eligibility and coverage differ widely by state. Some states also have their own subsidy or voucher programs.

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