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Does Insurance Cover Memory Care

Options For Loved Ones With Memory Loss

Having a specialized team of support and a secure place to call home often brings greater peace of mind to those facing memory loss as well as their families. If your family has reached the point of looking into additional care for your loved one with cognitive decline, you may not know where to start exploring your financial options. The team at The Crossings at Riverchase can help you get started – and here we’re sharing a few factors to take into consideration.



Ways To Pay For Memory Care

For starters, it’s important to keep any existing health care or insurance plans active that may help meet your loved one’s needs. Different insurance policies – including Medicare, private insurance, a group employee plan, retiree health coverage, disability insurance, veterans benefits or long-term care insurance – may contribute toward paying for care.

Medicare does not cover long-term care – although Medicare coverage may help with any medical costs incurred with memory loss. Medicaid coverage is not accepted at our community; however, you can look into these additional types of coverage in order to find assistance.

  • Employee or Retiree Health Plan: For an individual diagnosed with Alzheimer’s or another form of dementia long before turning 65, coverage may be available through private insurance – either a group employee or retiree health plan may help pay for some expenses.
  • Veterans Benefits: Veterans and their spouses may be able to qualify for monthly benefits to help with the costs of care using Veterans Aid and Attendance. The process can take several months so it’s important for eligible veterans to apply early through the Veterans Administration.
  • Disability Insurance: A disability policy provides income for a worker who can’t work due to illness or injury. This may be an option for some individuals; however, this type of plan must be in place before symptoms of memory loss begin.
  • Long-Term Care Insurance: In order to utilize long-term care insurance for memory care, a policy needs to be in place prior to diagnosis of dementia or Alzheimer’s. For those who are planning ahead for the possibility of needing memory care, be sure to compare how much a policy pays per day and how many days or years it will pay out.

Through memory care at The Crossings at Riverchase, families can ensure a comfortable, compassionate and safe home for their loved ones. When you’re ready to work together to confront the challenges of memory impairment, we’re here to serve as a resource and can support you in determining how to pay for memory care.