Assisted living is largely self-paid. It’s private paid. We accept credit cards. You can write us a check or we can auto debit your bank account. There are a couple of programs out there for veterans that have served or in combat. There’s the VA which helps out with payment towards assisted living, the Veterans Administration, and then secondly Medicaid has a program called the Long Term Care Diversion Program that will help out. They won’t pay it all but they will help out with the cost of an assisted living facility.
There is usually a shortage of funds when it comes to private pay. The person will own a home where they’re selling a home or they’re cashing in their savings and it will supplement their monthly income. Some people are fortunate enough. They have enough monthly income to cover the charges at assisted living facility but most often they don’t have and that’s when their assets are liquidated to help subsidize their daily or their monthly income.
There is an insurance called “long term care insurance”. It’s excellent for paying for assisted living. It usually is generous enough that will get you in most assisted living facilities. So anybody that is a beneficiary of long term care insurance, you can look forward to it helping out to pay for assisted living.
