Ways to Pay for Assisted Living Care
People pay for assisted living using a variety of sources such as savings, retirement funds, life insurance policies, and other assets. Seniors with long-term care insurance or who qualify for Medicaid or VA benefits may receive more assistance. Many families are disappointed to learn that assisted living isn’t covered by Medicare or other health insurance, since it’s a form of long-term care. This is why it’s important to have a plan that covers long-term senior care needs.
Medicaid Programs & Waivers for the Elderly
Medicaid is a joint federal and state program that offers health coverage to low-income individuals and families in Nevada. While the federal government outlines general guidelines, the state has flexibility in how it administers the program. Nevada Medicaid includes a Long Term Services and Supports (LTSS) unit, which provides care for individuals who are aging or living with disabilities. Like all states, Nevada Medicaid covers nursing home care and certain personal care services. To learn more, contact their intake unit at 702-486-3545, option #3.
Nevada provides the Home and Community Based Waiver for the Frail Elderly (HCBW-FE), a program that offers non-medical support services to seniors living at home, with family, or within the community. This waiver may cover services such as adult day programs, respite care, housekeeping assistance, meal support, and companionship. State-approved assisted living facilities may also offer personal care services through this program
Veterans Benefit
Each benefit has different requirements and may require a separate application. Aid and Attendance, VA Survivors Pension or basic pension, disability compensation, and VA health insurance can all be used for assisted living care. Here are some programs that aid veterans with assisted living.
The Veterans Aid and Attendance benefit could be the solution to help offset these rising care costs. A wartime veteran or their surviving spouse with limited income may be eligible to receive a non-service-connected pension (this means that the need for care does not have to result from one’s military service).
There are three levels of VA Pensions:
- Basic Pension / Improved Income – Financial support available to veterans aged 65 and older who are in good health but have limited income.
- Aid & Attendance (A&A) – Additional benefits for veterans over 65 who need help with everyday personal care tasks, such as bathing, dressing, or mobility.
- Housebound – A benefit for veterans with a 100% disability rating that confines them to their home, even if the disability is not connected to military service.
The Aid & Attendance and Housebound pensions add extra monthly benefits on top of the Basic Monthly Pension. Eligibility for these supplementary pensions requires meeting all the criteria for the Basic Pension.
Veterans who are certain they are eligible – If a veteran is highly confident that they meet ALL eligibility requirements, they can use the following application methods. Little or no human assistance will be available.
Apply online on the U.S. Department of Veterans Affairs website.