Assisted living is one of the best options for aging adults who require long-term care and can no longer live alone at home. However, transitioning your elderly loved one into a nursing home can feel overwhelming. Once you add in factors like finances and insurance coverage, the process becomes even more stressful.
Many families and seniors turn to Medicare to cover the costs associated with assisted living and elderly care. However, it may surprise you to learn that Medicare doesn’t provide the comprehensive coverage your loved one may need. We’ll discuss all the important coverage information you should know about Medicare and Medicaid below.
Will Medicare Cover the Cost of Assisted Living?
No, Medicare does not cover assisted living costs for seniors, also known as “custodial care.” However, Medicare may provide coverage for seniors who require rehabilitative or skilled nursing services, although it will only be for a short duration, not long-term care. Furthermore, Medicare won’t cover the cost of non-skilled assistance for daily living activities, like bathing, eating, walking, etc.
Although Medicare will not pay for nursing home costs, seniors will still have medical services and prescription medication coverage. Here is a breakdown of Medicare Part A, B, and C coverage types:
Medicare Part A Coverage
Medicare Part A covers the cost of hospital stays, including:
- Home health care (i.e., in-home care for daily activities, like bathing, eating)
- Skilled nursing home care
- Inpatient hospital care
- Hospice care
Medicare Part B Coverage
Medicare Part B provides medical insurance and offers coverage for these services:
- Preventative care (i.e., flu shot or lab tests)
- Outpatient care
- Medically necessary care (i.e., the cost of diagnosis or treatment)
Medicare Part C Coverage (Medicare Advantage Plans)
Medicare Part C, also known as Medicare Advantage Plans, may cover some long-term care costs. However, while Part C plans cover everything included in Part A and Part B, they are only available through private insurers with varying coverage types.
Alternative Methods to Pay for a Nursing Home Near Me
Medicare Part A plans will not cover the cost of unskilled nursing home care, such as bathing, eating, or personal hygiene. However, it will cover skilled nursing care for up to 100 days. Fortunately, other options are available for seniors who need the comprehensive care assisted living facilities provide for their residents.
Long-Term Care Insurance: Certain private insurance providers offer long-term care coverage for seniors. However, the coverage amounts, costs, and included benefits vary between individual insurers. Before you commit to a long-term care insurance plan, compare providers and plan types to get the best coverage at the lowest possible cost.
Medicaid: For families that meet income eligibility requirements, Medicaid may help cover part of the costs associated with assisted living, daily activities, and medical supervision in a nursing home. Check out the Medicaid State Overview page to determine the specific income requirements for your state, as they vary throughout the nation.
Social Security:Certain individuals may meet eligibility requirements for Supplemental Security Income (SSI) or Social Security Disability Insurance (SSDI). However, only certain medical conditions and income levels are eligible.
Calculate Your Cost of Transitioning to An Assisted Living Facility
The most important factors to consider when evaluating nursing homes include the available levels of care, the experience of the staff and medical professionals, and standards for cleanliness and safety. However, budget is also a critical factor for many families. Trying to assess your loved one’s exact needs and how they will impact the price of their assisted care can be challenging at best.
To better understand the cost comparison between at-home care and assisted care, try the Senior Living Cost Calculator on The Society House website. The Society House is a luxury assisted living facility in a renovated single-family home in Livingston, NJ, offering the highest levels of professional medical care for seniors in a comfortable, elegant setting.
The Society House: Luxury Assisted Living Near Me
Do you want to learn more about The Society House? Our assisted living home offers 360 personal caregiving, comprehensive health and wellness programs, and much more. Call The Society House today at 973-994-1797 to speak with one of our friendly and professional staff members and explore our care solutions for your elderly loved ones.