Most senior citizens don’t have families that can help with finances, so older adults are left scrambling to find help wherever they can. Government programs sometimes come to the rescue and Medicaid can often provide help. People who have served in the military use Veteran Attendant Care and Aid for assistance. Some seniors try to live in their own homes if they can, before moving to the assisted living communities in Moline.
Common Questions: How do I pay for an Assisted Living Facility in Moline?
- Bridge Loans – If your family has chosen to sell your loved one’s home and move into a Moline assisted living facility, this is a short-term loan that pays for assisted living until the home sells. There are also specialized real estate agents that belong to the Senior Real Estate Council. These agents specialize in senior market strategies.
- Rent the Home – Consider renting out your senior’s home if they are not yet ready to sell. Rental payments are sometimes a wonderful way to cover the cost of an assisted living facility in Moline.
- Veteran’s Programs – There are many programs available to those who have served. A VA pension will often help with financial assistance when covering the cost of a Moline assisted living community.
Life Insurance: Can it Be Used for Assisted Living?
You can sometimes take advantage of cashing in a life insurance policy. Selling your policy comes with advantages and disadvantages. The advantage is that you receive a lump sum. There is no restriction on how you use the funds. You don’t make policy payments any longer. Life settlements can also pay up to seven times more than the cash value helping cover the cost of retirement living in Moline.
There are disadvantages; however, doing this may disqualify you for Medicaid, the settlement is taxable, and your loved one may have to undergo a medical exam.
Long Term Care Insurance: Does this Cover Assisted Living Communities in Moline?
Long Term Care Insurance or LTC covers people who have chronic conditions or those who struggle with daily life. Benefits typically cover some of the cost but not all the cost of assistance in a home setting or at the assisted living communities in Moline. Even though LTC doesn’t cover the entire cost it makes it more affordable.
Some of the cons of an LTC policy is that they have limits on how long they will pay, premiums increase over time, and coverage sometimes has lots of restrictions.
To learn more about your options at a Moline assisted living community, it is best to call and talk to the senior housing management at any of our Park Vista locations.
At Park Vista–North Hill, a premier Molline assisted living community we’ll provide a comprehensive list of provided amenities when you tour the grounds. One thing is always certain; you will experience a caring and nurturing environment that will make you feel like an essential part of our Moline community.
Each campus is pet friendly and will offer a wide range of beauty salons and barber services to ease our residents’ stress. There is even a happy hour at almost every location! Our Park Vista locations offer many options for independent living, assisted living, memory care, and respite care.
It is an Honor & Privilege to care for those who once cared for us.
Making It Matter one day at a time.