Paying for Assisted Living
Nearly one million older adults in the U.S. reside in Assisted Living communities, and over half of these residents are aged 85 years or older.
Paying to reside in an Assisted Living community is likely a major consideration when selecting the right care solution for yourself or a loved one. If you're struggling to decipher how much assisted living costs, you're not alone.
Up-front, monthly, and a la carte prices vary greatly depending on several factors, including the size of the assisted living facility, the types of services offered, and the amount of care you require. Listen in to learn more about how to start important financial conversations and information to help navigate paying for Assisted Living services.
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Tune in for insights from Certified Senior Advisor® Randy Chipman.
Randy Chipman is a Certified Senior Advisor, a Certified Placement and Referral Specialist and has an MBA from the Woodbury School of Business. He is the Owner and President of CarePatrol of Utah, a Senior Placement Agency and Adult Case Management, and Medicaid Provider for the New Choices Waiver in Utah. Together they have helped thousands of seniors and their families find safe and affordable senior care options. Randy and his wife, Keri, have been married for 20 years, and they have 3 daughters. Randy loves to ride both mountain and road bikes and loves getting outside and in the Utah mountains.
- Services that are typically provided when residing in Assisted Living
- Average cost of living in an Assisted Living Community across the U.S.
- Factors that may impact overall Assisted Living costs
- Ways to pay for Assisted Living
- Financial considerations to be aware of when selecting an Assisted Living community
- How to start the conversation with a family member about being financially prepared
- Helpful tips and resources for older adults and caregivers
- Assisted Living vs. Home Care Flyer
- Assisted Living Flyer
- Paying for Care Flyer
- Cost of Living Affordability Worksheet
- Cost of Care Survey – Genworth
- VA Pension Rates for Veterans – U.S. Department of Veterans Affairs
- VA Survivors Pension Benefit Rates – U.S. Department of Veterans Affairs
- Medical and Dental Expenses – IRS
- Geriatrics and Extended Care – U.S. Department of Veterans Affairs
- Money for Older Adults – National Council on Aging
- Elder Financial Protection Network
- Instagram Video Resource – CarePatrol of Utah
- How Family Caregivers Can Get the Tax Breaks They Deserve – AARP