Assisted living communities are attractive options for many families facing the early stages of Alzheimer’s or Parkinson’s disease. Because of the varied care, and the length of the disease’s progression, these facilities allow for a transition from independent living to eventual skilled nursing care in a nursing home. However, it is important to note that the luxury and convenience assisted living facilities provide often come with a hefty price tag that many insurance policies will not cover.
Payment arrangements vary by community. Some facilities may charge on a monthly basis, and require no long-term commitment. More and more often we are seeing assisted living facilities requiring large upfront fees, with some running into the tens or hundreds of thousands, especially in CCRCs, or Continuing Care Retirement Communities. You get what you pay for though, and the higher end CCRCs are similar to resort style living.
When searching, be sure to keep in mind that Alzheimer’s and Parkinson’s patients often live a dozen or two years past diagnosis, so be certain you can meet the cost requirements long-term. Medicaid typically covers only nursing homes, and veteran’s benefits may help offset the cost, but rarely cover it entirely. Typically, either long-term care insurance or the family’s funds are used to pay for assisted living facilities.
