There’s a lot to consider when choosing Memory Care for yourself or a loved one – and finances are almost always at the top of the list. That’s why we’re here to help.
Provided by the Alzheimer’s Association, here are two options to consider when trying to decide if the cost of memory care is feasible for you or a loved one.
- 1. Leverage retirement benefits
Retirement plans can be an incredible financial lifeline for those seeking out memory care – even if they haven’t yet reached retirement age. These include:
- Individual retirement accounts (IRAs)
- Annuities
These benefits encompass a range of options for subsidizing the cost of a memory care facility. Additionally, pension plans often provide benefits to workers deemed disabled according to the plan’s criteria, even before the typical retirement age.
- 2. Exhaust ALL insurance resources
Memory Care facilities that accept Medicare and Medicaid will discuss coverage options when touring the campus. For many seniors, Medicare is the primary source of healthcare coverage – but if you’re under 65, other sources may include:
- Private insurance
- A group employee plan
- Retiree health coverage
If you or your loved one changes policies, be sure to check how soon Alzheimer’s disease expenses will be covered under the new policy. Don’t be caught off guard!
Alzheimer’s Association Resources
Additionally, The Alzheimer’s Association® can connect you with low-cost or free community support services – including:
- Benefits Check-Up that can help you find benefit programs that can help pay for medications, health care, food, utilities and more.
- Benefits.gov can help you find out which government benefits you may be eligible to receive.
- Department of Veterans Affairs has information on government benefits available to those who served in the military.
- National Clearinghouse for Long-Term Care Information is a government site that helps you plan for long-term care needs and find services.
Visit The Alzheimer’s Association’s website to learn more about the resources available to you, then visit our website to learn about everything that Trilogy memory care has to offer!