Tips to Help Finance Assisted Living for a Senior Loved One

Financing a senior’s move to assisted living doesn’t always have to be from private funds. Learn about other options to explore.

For adult children and their senior loved ones, understanding the pricing structure and options for how to finance assisted living care can be confusing. Each senior living company structures their monthly fees a little differently. Some bundle expenses into one monthly fee. This charge covers everything from rent and utilities to personal care and meals.
Other companies have a base rate that covers apartment or suite rental, utilities, meals, and activities to which additional fees for supportive care are assessed separately. This approach can leave families feeling confused about how much they should expect to pay each month.

Equally perplexing are the options for financing assisted living. While most of the expenses are paid using an older adult’s or their family’s private funds, there are alternative programs available. From financial support for veterans and their surviving spouses to bridge loans and life settlement companies, here are a few suggestions for adult children to explore.

Options for Financing Assisted Living

Consider Sunrise Companion Living

For seniors trying to limit monthly expenses, our companion living program is an option to consider. Through our thoughtful matching process, an older adult can be introduced to another senior looking to share a suite. In addition to sharing the cost of rent, both older adults will have a new friend to make the transition to community living a little easier.

Article By: Sunrise Senior Living

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