Senior Care Center1: How To Find Funding To Pay For Long Term Care

Senior Care Center, based in the US, is reaching out to share information on how families and individuals may pay for the cost of assisted living / long term care for the elderly. Senior Care Center is a free online resource that helps families find the right long-term care facilities for their elderly loved ones. Their site offers a wide variety of educational and helpful materials aimed at guiding visitors on various topics related to senior care. Visit their site here: https://srcarecenter.com/.

"We often get lots of questions from our community concerning the costs of assisted living and paying for long-term care facilities. Seeing how this is a common concern, we have decided to put together a guide on the best ways to receive funding and help make taking care of our loved ones more affordable," states Casey Ryeback, a representative from Senior Care Center. He notes that this is one of the biggest challenges that families face when looking to provide for their loved one's future, as the associated costs can make choosing the right facility an even more difficult endeavor.

Ryeback says, "As you are looking into different care facilities for your loved ones, we are here to help you explore a variety of payment plans and options. There are a few paths that can help you fund your elderly loved one’s stay in an assisted living facility, and being familiar with them is bound to help you gain a better grasp of the opportunities at your disposal. Considering that the cost of this service can range from a few to tens of thousands of dollars, it is vital that you look into every detail and look for ways to either generate funds or cut unnecessary costs where you can.”

SrCareCenter explains that the first option for those looking for funding is to seek government assistance. While not completely covered by government assistance programs, one can receive financing that will cover a part of the cost of assisted living and long term care. The coverage for these programs varies depending on the state, and certain regions will have different requirements for eligibility and amount of coverage. Programs like Medicaid can subsidize payments for long-term care facilities, specifically nursing homes. However, only certain assisted living facilities or nursing homes will accept Medicaid as payment. Therefore, it is best to check what sort of financial assistance is accepted with each facility being considered.

Medicaid is not the only option for government assistance, as the Department of Veteran Affairs has programs designed to help veterans with coverage, including nursing homes. Depending on the program, spouses of veterans are also included in the coverage. The VA will subsidize certain services — but the program notably does not cover rent and living expenses.

Another option is to seek personal funding and loans, as government coverage is not a guaranteed source for some people. In fact, most end up using their personal funds (such as retirement savings, pension or social security) to cover senior living expenses. On the other hand, long-term care insurance can help cover the costs of assisted living. There are also other ways to finance assisted living costs, such as reverse mortgage loans, home equity loans or bridge loans. Read more here: https://srcarecenter.com/other/paying-for-assisted-living-and-long-term-care/.

Senior Care Center can offer advice and guidance for those struggling to find a suitable assisted living or long-term care facility. Ryeback states, "Our advisors are available to answer any questions and concerns about financial planning, and we are more than happy to assist you with your needs. We will offer personalized advice depending on your situation, opportunities and financial capabilities, making sure to walk you through the process step-by-step. We'll help you all the way through until you choose a facility, going as far as to set up tours for you to view each community you are interested in. Our advisors will help you explore every option available as well as examine the benefits of each provider."

The Senior Care Center website contains resources on several topics of interest for those taking care of elder citizens. One of their primary directives is to help families find long-term care facilities for their elderly loved ones. Interested parties may reach out to Casey Ryeback for more information on this. They may also connect with the organization through their official social media channels.