long-term care insurance, there’s a good chance their policy covers care at an assisted living facility. Life insurance. Check if your loved one’s life insurance policy may be sold for a lump sum to help fund long-term care. Bridge loan. Short-term loans can help fund senior care while you’re selling your parent’s home or liquidating other assets to cover costs. Medicaid and Medicare. If your relative qualifies, Medicaid may cover some assisted living expenses. While Medicare doesn’t cover long-term care, it may pay for some health care costs in an assisted living facility. How do I choose an assisted living facility? You may feel overwhelmed with choices when it’s time to find an assisted living facility for your loved one. Seniors and families can choose from small, residential environments to resort-like communities with high-end finishes and gourmet dining. So how do you choose the right option for your aging parent? Start by prioritizing your loved one’s needs and preferences. Think about the type of help your aging parent needs and how often they might need it. Consider these questions: How much help with daily activities do they need? What can they do on their own?· Are they mobile? Do they need help with transfers?· Do they have any dietary restrictions? For example, do they have diabetes or kidney disease?· How much space do they need? Is a studio apartment adequate? Are they willing to share an apartment with a roommate?· What type of social activities do they enjoy?· Are they interested in staying active and involved in fitness programs?· How much help do they need with housekeeping and laundry?· What type of transportation needs do they have?Then, consider these factors as you choose an assisted
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