How to Pay for Assisted Living

Thank you so much. Where are you located?

Seriously?!? Not in my area. I pay $11,590.00 a month. It’s a disgrace.

I'm a CFP specializing LTC and Medicaid....Medicaid WILL NIOT pay for assisted living in CT. Not tax-deductible! Not room and board!

Who can afford this and what did they do for a living? What investments did they make?

I'm an administrator of an assisted living in PA and our most expensive room is $4000.

Who pays for them to stay? Is it out of there pocket or do there state pay? Or do u bill there insurance

Excellent information. Thank you so much.

Very expensive😩

Most helpful and on topic info almost at end of presentation.

I bought long term insurance 20 years ago. Buy it when your healthy. It’s an insurance policy that grows. Very necessary unless you want the state to take care of you 3 hours a day few days a week. Not good if you have dementia.

"Assisted living" can have several meanings.

To expensive who can afford these prices?

If you are a homeowner and don't want to go into Assistant Living or a Nursing Home, consider a Reverse Mortgage in order to pay for home care. In most cases you are better off in your own home, if possible. I know because I have been through this with several family members whom I helped take care of in their final years. Many of the Assistant Living Homes and Nursing Homes in this country are an absolute disgrace! I would to see the Federal Government take over the funding and operation of these homes. In today's world it is all about the young people. They seem to forget about the older generation who worked most of their lives and paid plenty of taxes during their lifetime and deserve much better from society.

are yall pet friendly

My mom pays for memory care $6400/mo for assisted living. Ridiculous because my mom really doesn't have the money! We had to sell her house and use that for a few years to pay for it. She has Medicare and Medicaid and neither pays one penny!! Unless it's a low horrible care nursing home.

This is false information. Medicaid does not pay for an ALF; it only pays for the medical component of it. It doesn't pay for the base fees or room and board, which is of course the most expensive component.

Medicaid only pays for the worst nursing homes in the USA and only for those with not a single dime to their names. Also you have to put your name on a list and hope you can get in to some horrible home within a few years time. Oh, you were looking for a nice assisted living place? Well now you're looking at $8,000+ per month out of your own pocket. We are screwed in the usa.

We need federal regulations over ALF programs across the nation...too much potential for aggressive exploitation of our seniors. For example, senior requests services and the ALF claims staffing shortages and months go by while not having the expected program supports in place ...maybe true, but seniors consider ALF programs expecting the services to be available, as needed...too much subjective oversight where greed can run wild!

thanks for the info, i guess most of us will die in the streets

I knew a guy who purchased "long term care insurance" - very expensive - - when he tried to use it, turned out there was a clause in the contract that said if the policy holder could bathe them selves, the policy would not pay - he never got a dime out of all the premiums he paid.

If one can qualify, getting into a government subsidized low income apartment with home health care is far cheaper than "assisted living".

In Kansas, I don't think Medicaid pays for assisted living, I guess it varies state to state.

Amazing information. Thank you for this. It's shocking how much it cost to take care of loved ones in long term care. It so important to prepare when your younger and have the financial means to take care of yourself when you are older.

Thanks for the video.

She completely leaves out the #1 reason for a 70% increase since 2004 which is venture capitalism that allows unregulated entities to buy up everything in the market, creating monopolies in pockets of the country that charge pretty much whatever they want with zero competition, even from the state.

Excellent information.

This doesn’t really tell you how to pay for assisted-living! Other than be sure you have the money saved! Very misleading although maybe two pointers that could be helpful if you could afford it in the first place.

I can't believe i have over $400 taken out of my check every month for this shit.

National Aide Veterans and Families (NAVF) to see the dates of veterans of War and help for their spouses too. They can help you fill out paperwork because if you get one thing wrong, you can be rejected and veterans and their spouses think they do not qualify for the help they are due and available for them. Non profit help. They understand the separate veterans dept to call as the different departments do not talk between theirselves when you call Va for help. Thank you Veterans!

I pat 1600.

I’m in a assistant facility. I love it and being taken care of. $5000 + a month. However to have them handle my med etc. that will be an extra $500 a month, I won’t do it just to give me pills.