Covering the Financial Basics

When your clients turn to you for advice, they expect you to be prepared and informed. At Enlivant, we can help you and your clients learn about assisted living, as well as other senior housing options. We can also help you explore the ways your clients can pay for assisted living.  We are committed to partnering with you to help your clients make sound decisions, which is just one of the reasons Enlivant is a preferred choice for assisted living.

The Enlivant Approach to Assisted Living

Enlivant offers compassionate care with support for activities of daily living (ADLs) in an intimate community setting.  We provide attentive, individualized care that enables residents to thrive in body, mind, and spirit. For every new resident, we complete a thorough health assessment, which provides the starting point for an individual care plan. Our communities are staffed around the clock, with a licensed nurse in each community available 24 hours a day.

Costs of Assisted Living

Paying for assisted living  can be complicated, but there are many options that can help defray the costs. When you’re going over the costs of assisted living with your client, here are some facts and figures to keep in mind:

• The monthly cost of assisted living in the United States averaged $3,568 in 2011. 
  •  Source:  NIC MAP Data & Analysis Service  
• Medicare and most commercial health insurance companies do not provide coverage for assisted living, which is why an increasing number of people invest in long-term care insurance policies before assisted living becomes a necessity. 

It’s important to ask assisted living communities about the billing process and the possibilities of additional fees or refunds. Understanding the cost structure, as well as any additional monthly costs the family may incur, is critical for financial planning. 

Guide your clients to understand the costs per month based on current and anticipated needs to ensure that your client has a solid understanding of the long-term financial picture.  

Financing Options

When discussing how to pay for assisted living, remind your clients there may be options to help pay for financing long-term care needs. Here are a few ideas to think about — for more information, see our article, Understanding the Costs:  

Here are a number of ways to help finance a move to assisted living: 

• Home Sale: While this option may not initially seem appealing, selling the home is typically the best source of revenue to help move an older adult into assisted living. The income gained from selling the home can greatly ease the stress and financial burden of paying for senior care. 
• Long Term Care Insurance: These policies typically cover assisted living costs, but it is best to check with the insurance provider before beginning a search for the right community.  
• VA Benefits: Many veterans and their spouses are eligible for up to $2,000 of tax-free aid per month toward care services, thanks to the Aid and Attendance Pension benefit. To find out if your client qualifies for this assistance, contact the local VA office.