Making the decision to put a loved one is difficult, even knowing that this is the safer alternative, it is still hard. There are countless monumental decisions to make to ensure you are putting your loved one is the best assisted living community available. Still, there will be a few aspects that are out of your control-one of those being insurance coverage.
First, we should talk about the difference between a nursing home and assisted living. A nursing home is a place to go when one is no longer able to care for oneself in many capacities. A nursing home will provide medical care for an individual, while an assisted living facility will provide them with assistance in safely performing daily tasks, like bathing, laundry, and monitoring their medications.
Many insurance companies will not cover assisted living needs. They may include short term care, like doctor's visits or a short hospital stay, but often they do not provide full or partial coverage for long term care needs.
Assisted living facilities are usually classified as "private care", making it so Medicare and Medicaid will most likely not cover any costs, which can vary between roughly $2,000 and $7,000. Of course, these rules vary by state, but in some cases, Medicaid may provide partial coverage.
Although the insurance your loved one currently has may not help alleviate their new cost of living, you do have options. Look into other sources of assistance your family or friend may be eligible for. Check to see if their current health insurance policy has any information regarding long term coverage; if so, assisted living may fall under their long term coverage criteria.
In the event that your family member or friend has limited or no health insurance when the time comes to consider a facility, it may be time to think about selling some of their assets. Now, this might seem callous, but it really isn't. Now that they are moving out of their home, take inventory, and help them decide on items and appliances they can do without. In some cases, you may even find that their previous home could be sold. Obviously, all of this is ultimately up to the person moving into assisted living.
But, before loading up their belongings, look into free health insurance quotes. This will give you a better idea as to what type of coverage is necessary, how much it may cost, and what services the insurance plan will provide coverage for.
Another source of aid may come through the Veteran's Administration, otherwise known as the VA. If your loved one is a veteran, speak with them to see what they may be able to offer. If the individual considering assisted living is the spouse of a deceased veteran, these benefits may carry over to them as well.
One of the simplest ways to save money on the front end is to do your research. It is crucial for you to know what you're looking for before making the initial move. Finding the assisted facility your family member is most comfortable in, that also adequately meets all of their personal needs is no small task. But, make sure to consider all of these factors before the big move. Spending the time to make the right choice the first time can ultimately save you and your loved one money in the long run.
Hopefully, this information has given you some insight into assisted living and what insurance companies may cover. Do your research and take that knowledge into consideration when it comes time to make a decision.