(Quote) Money is not the only answer, but it makes a difference.
The cost of Assisted Living Facilities nationwide can vary from $2,000 - $5,000 per month. Sometimes people have a false sense of security about what their insurance will pay. It’s important to know right up front that Medicare will not pay for assisted living. But, don’t give up all hope yet. There are a few other things you should investigate first.
Have you ever heard: “You need to know what you need to know before you can ask questions”? Unfortunately, this is the case more times than not. You are often at the mercy of the person on the other end of the phone or other side of the desk. Depending on how they feel that day, how eager they are to get home, or how devoted they are to helping people often makes a difference in the information they share with you. There have been times when I have felt that people “blow me off” instead of helping me with my needs. Keep this in mind when you get short answers. Don’t let them off the hook so easy. Ask questions to see if there is any way you could qualify. This is important to you. Make sure you get all your questions answered.
Some senior living communities offer a “financial concierge service” that can help guide you through the process of qualifying for benefits. Another helpful option is a “geriatric planner”. These people can save you a lot of time. They will have a wealth of knowledge and cut down the amount of time it takes to find out what your options are. However, if you cannot afford or cannot find a geriatric planner, with a little determination and perseverance you can achieve the same results. Here are the most common ways people pay for Assisted Living.
- Long Term Care Insurance
- Life Insurance
- Veterans Benefits
- Consider Selling or Renting if you Own Your Home
- Reverse Mortgage
- Bridge Loan
- Private Pay
- Annuity
- Medicaid
It is important to explore all of your options and come up with the best fit for your situation and circumstances. As a Real Estate Professional, I help people with the option to sell their homes so they can afford to pay for the assisted living. Most assisted living communities will require a down payment to hold their space until the home is sold. Often times the money is tied up in the equity of the home and it will take at minimum 30-50 days plus to close. We have programs and options available in these types of situations such as bridge loans as an example to help secure your position at the new assisted living community. In addition, we will plan and hold an estate sale, pack up remaining items, clean up and help with the transition.
If you or a loved one could benefit from our services please contact us today for a free consultation and receive a complimentary gift basket from Carlsbad Gourmet!!
All my very best
Cari Ann Drolet- Real Estate Professional
Pacific Sotheby's International Realty
5825 Avenida Encinias, Suite 101
Carlsbad, CA 92008
Phone: 858-444-5586
Email: Cari.Drolet@SothebysRealty.com
Website: www.YourCarlsbadRealtor.com
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