Will Medicare Help Me Meet Assisted Living Costs?

Senior Assisted Living

At some point, many elderly people relocate to assisted living residences. The term assisted living refers to a place of accommodation for people in need of help with the things they usually do, like bathing, consuming medication, and dressing. They may not require the care available at a skilled nursing facility but need the personal care and general assistance they miss when living independently.

Senior assisted living comes at a cost. When you are registered with some Medicare coverage type, you might think about whether the plan covers this form of health care. Here, we will discuss what you should know regarding the assisted living cost coverage of Medicare.

Does The Medicare Program Cover The Costs Of Senior Assisted Living?

To cut the long story short, no. It will not cover your or your family member’s costs related to residing in a custodial care community. This form of healthcare service is not regarded as being medically required or an insurance issue.

Medicare pays for just the long-term healthcare that you or your family requires through a skilled nursing facility or rehab services. Even in that case, it covers the same for a particular duration. The Medicare program does not still pay for non-skilled care for daily activities, including the majority of care associated with assisted living.

That said, albeit you relocate to an assisted living home, Medicare will keep covering your prescription medicine and other services that your specific plan would have covered if you resided in your house.

Which Medicare Plan Or Part Pays For Assisted Living

The hospital insurance of Medicare does not still cover the cost you may encounter for an assisted living arrangement. Rather, it covers the following.

• Nursing home healthcare
• Home-based healthcare
• Hospice care
• Inpatient care at a hospital

The medical insurance part of Medicare covers the following.

• Outpatient care
• Preventive care, like for the influenza vaccine and lab testing
• Medical necessity care (supplies or services required to diagnose your condition or treat it)

Medicare Advantage insurance plans do not cover associated living costs, either. Nevertheless, private insurance organizations throughout the US sell many Medicare Advantage-related plans, each offering its own benefits.

How Can You Pay For It

Almost everyone pays for their assisted living requirements with long-term care (LTC) insurance plans from private insurers or with Medicaid. On the other hand, some fund it with annuities, life insurance, and reverse mortgages.