How much does assisted living cost and who pays the bill?
Although the cost for assisted living varies by the facility, the 2007 national average was $2,969 per month for a one-bedroom apartment with a private bath. The rate is significantly higher for seniors who require Alzheimer’s or dementia care, with costs of $4,270 per month. Residents of assisted living facilities use “private pay” to cover the costs. The way in which they pay is up to the individual. Some people use personal savings, pensions and/or social security to cover the costs. Some people also use long-term care insurance. Medicaid and other federal programs do not pay for the costs of assisted living. Some states offer waivers for assisted living for special circumstances. Check with your Area Agency on Aging to find out if your state offers a waiver. An exception to private pay for assisted living is low-income or government subsidized communities. If your parent meets certain income and asset requirements, the government will subsidize the cost of the rent. What happens if
