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Does Medicare Pay for Assisted Living?


July 10, 2019 0):?> in: Senior Finances Uncategorized

If you are considering assisted living for a loved one, you may want to know what your financial options are. The biggest question will probably be: Does Medicare pay for assisted living? This article will answer this question and provide tips to help you make the right decision for your loved one.

Medicare and Assisted Living

If you are considering putting a loved one into assisted living, one of the most important deciding factors is the cost. Besides the location and type of care, it’s important for the current caregiver to be aware of how much of the cost will fall on his or her shoulders. This means conducting research in order to determine what the options are. Assisted living facilities can be expensive, so it's important to know ahead of time what to expect and which facilities fit within your budget.

What Medicare Covers

Does Medicare pay for assisted living facilities? Unfortunately, they do not usually pay for these types of facilities. However, when a loved one is living at some facilities, they will cover the costs of acceptable healthcare provided at the assisted living facility. Most of the time Medicare only covers patients who are living in a skilled nursing facility or receiving care in their home. Due to exceptional circumstances, Medicare could be permitted to cover other types of care, but most of the time it will not cover the costs associated with what is considered “custodial care.”

Know Your Payment & Insurance Options

If Medicare doesn’t pay for assisted living, what options are available when family is unable to take care of the loved one? 
Some facilities that are classified as assisted living provide their own funding options for residents. Another option is long-term care insurance to defray some of the cost of an individual’s care. Unfortunately, in most cases, the cost of assisted living falls on the resident or loved ones.

Conclusion

Since Medicare does not usually cover the costs associated with assisted living, it’s important to conduct research before making a decision on behalf of a loved one. Long-term insurance can help defray some of the costs of assisted living. If your loved one has a limited source of income, in some states it’s possible Medicaid can help with the costs. The important thing is to be prepared and know what your out-of-pocket expenses will be ahead of time.
 

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