This document discusses common questions about financing senior living and provides answers. It addresses questions such as how much assisted living costs on average, whether costs are included or a la carte, if moving to a cheaper city could save money, if Medicaid or Medicare cover any costs, where to look for financing options, and what types of professionals can help such as public benefits counselors, geriatric care managers, and eldercare resource planners. The document aims to help people better understand their options for financing senior living arrangements.

1. 7 Common
Questions
About
Financing
Senior Living
Here you will find the top seven
most common questions we get
that will help you better
understand your options.

2. SeniorLivingSpecialists.com
How much
will it cost?
As of 2018, Texas is the
15th-most-affordable state
for assisted living, with a
median yearly cost of
$42,000.

3. SeniorLivingSpecialists.com
What’s included
in the cost?
You have options! Facilities
may offer all-inclusive or a
la carte pricing.
All-inclusive
All-inclusive services are best
when your loved one needs a
lot of help.
If your loved one is still fairly
independent or your family can
help, a la carte pricing may
work better.
A la carte
vs.

4. SeniorLivingSpecialists.com
Should we consider moving our
loved one to a cheaper city?
Costs can vary widely from area to area. If you have
family elsewhere, it may be worth exploring. The
move could save thousands of dollars every month.

5. SeniorLivingSpecialists.com
Will Medicaid
cover anything?
Texas allows Medicaid to cover some
part of assisted living costs. To find out if
you are eligible or to apply for benefits,
visit Your Texas Benefits website.
Resource: https://hhs.texas.gov/services/aging/long-term-care

6. SeniorLivingSpecialists.com
Does Medicare
cover anything?
While Medicare covers medical
expenses, it does not cover any part of
assisted living, room and board, or
personal care.

7. SeniorLivingSpecialists.com
Where should we look
to find financing?
Here are some places to look for resources to
finance senior living:
● Medicaid
● Veterans’ Aid and Attendance Benefit
● State Non-Medicaid Programs
● Social Security
● Reverse Mortgages & HELOCs (Home
Equity Lines Of Credit)
● Life Insurance Benefits and Conversions
● Assisted Living Loans
● Long-Term Care Insurance

8. SeniorLivingSpecialists.com
Are there
people who
can help?
Yes! There are a variety of people
who can help you figure out the
maze of financing in different
ways. Here are four of the most
common resources...

9. SeniorLivingSpecialists.com
Public Benefits
Counselors
These individuals work for local
agencies and help people
understand financial options for
assisted living but are not
financial planners. They don’t
charge for their services.

10. SeniorLivingSpecialists.com
Geriatric Care
Managers
(GCMs)
These people help families come
up with and start long-term-care
plans, and some will help with
light financial planning. They’re
typically paid out of pocket.

11. SeniorLivingSpecialists.com
Eldercare
Resource
Planners (ERPs)
ERPs specialize in creating
financial plans for the elderly.
While they are typically paid for
out of pocket, they can often
find enough savings to pay for
themselves.

12. SeniorLivingSpecialists.com
Simplify Your
Senior Care Search
Our company was created after our
owner, Paul Markowitz, needed to find
care for his mother. After hours of
research, he simply felt overwhelmed
and confused. He knew there had to be a
better way. That’s why he created Senior
Living Specialists.
Call us today to get free advice on your specific situation
and senior care needs at 214-929-5055.