Finances can be an ongoing source of stress throughout life.
That can be especially true when the time comes to consider assisted living. Here in Indiana, the median cost was $4,283 per month in 2021. Over the next decade, that monthly cost is expected to increase by 34%.
You want to save money without sacrificing the quality of life your loved one enjoys.
As you crunch numbers and explore different finance options, here are three ways you can make assisted living more affordable.
1. Research Your Options
Don’t breeze through this important step. The cost of assisted living will vary from community to community. Big reasons for this are the amenities and services provided. Consider what’s truly important and what isn’t necessary. If you have the benefit of time, really look around at all your options.
The amount of effort you invest could save hundreds of dollars each month.
2. Expand Your Search
The right assisted living community may be further away than you think. Most people start looking close to home, but you may be able to save money by expanding your geography. Being far from home doesn’t mean your loved one can’t feel at home.
Just make sure you don’t go too far. Your loved one will appreciate frequent visits from friends and family.
3. Explore Medicaid
Medicaid, and other state-funded support such as veteran benefits, can significantly reduce the financial burden.
Keep in mind that not all assisted living communities accept Medicaid. This is one of the many ways in which Silver Birch is unique. Not only do we accept Medicaid at all nine Indiana locations, but we also have eligibility coordinators on staff who will walk you through the process. From applying for Medicaid through moving in, you have experienced support. If you still have questions, you can find our answers to common questions about assisted living and Medicaid.
No matter what you’re looking for, you don’t have to walk through this process alone. If you have questions about finances, availability, or anything else, please contact Silver Birch.