Assisted Living Funding Scenario

Posted by | Posted in General | Posted on 14-01-2011-05-2008


Though the assisted living cost is generally assigned to be paid from private funds, what many haven’t realized yet is the fact that there are actually things you can do to reduce the financial burden, or even remove it entirely. You may not count on Medicare to fund the facility, but there are actually still several things you can do to pay for the accommodation and services.

Whilst it may be true that Medicare could cover some forms of long-term assisted living treatment you ought not to count on it to funds your ongoing living requirements. With the increased assisted living cost today, which reached 4.7% growth from last year; many people find it really frustrating to deal with. In most cases, these seniors have to think of ways to fund this important care which may involve selling their most valuable property so they can afford to live in such a facility.

Once you decide to sell your house, a few scenarios are available to help you fund the care, such as considering a bridge loan so you can fund it while waiting for your home to be sold, or you might even consider a reverse mortgage which is another way of using the value of your property without losing it. Just make sure you find the best and affordable assisted living wa to enroll to, so you can avoid the extra frustrations dealing with the cost.

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