Ways To Pay For Memory Care
It’s important to keep any current health care or insurance plans in place, as they may help support your loved one’s care needs. Depending on the policy, coverage may be available through Medicare, private insurance, employer or retiree health plans, disability insurance, veterans’ benefits or long-term care insurance to help offset the cost of care.
Medicare does not cover long-term care, but it may help cover medical costs related to memory loss. Medicaid coverage is not accepted at our community; however, you can look into these additional types of coverage to find assistance, including:
- Employee or Retiree Health Plan: Coverage may be available through private insurance or a group employee or retiree health plan. It may help pay for some of the costs for an individual diagnosed with Alzheimer’s or another form of dementia before turning 65.
- Long-Term Care Insurance: To be eligible for long-term care insurance for memory care, a policy must be in place before being diagnosed with Alzheimer’s or dementia. For those planning ahead, it’s helpful to compare how much the policy pays each day and how long those benefits will last.
- Veterans Benefits: Veterans and their spouses may qualify for monthly benefits through the Veterans Aid & Attendance program to help cover the cost of care. Eligible veterans are encouraged to apply as early as possible through the Department of Veterans Affairs, as the application process can take several months to complete.
- Disability Insurance: If a worker cannot work due to injury or illness, a disability policy provides income for the worker. This may be an option for some individuals; however, such a plan must be in place before memory loss symptoms begin.
Memory Care at The Crossings at Riverchase ensures families a comfortable, compassionate and safe environment for their loved ones. We work together to confront the challenges of memory impairment and serve as a supportive resource when determining how to pay for memory care.