At first glace, placing an elderly family member into an Assisted Living or Memory Care community can seem expensive. However, when the cost of caring for a family member at home is compared to the cost of a senior living community it is much easier to accept.  We often underestimate the true cost of taking care of a loved one at their home, and the cost of at home care will quickly become more expensive than a senior living community when more intensive care is needed.  If you would like to compare costs, click here for a helpful worksheet.

When it comes time to move into a senior living community, there are several options to help pay for the cost.  Private pay through reverse mortgages or lines of credit and government assistance programs can help make living in a senior community more affordable.  Consider the following resources to help with other financial solutions:

• Planning for Long Term Care, from the Department of Human Services
• Paying for Senior Care, from the American Elder Care Research Organization
• VA Aid & Attendance Program, from VeteranAid.org
• Benefits Check-Up, from the National Counsel on Aging