What happens when a resident's financial resources are exhausted when living in an assisted living community?

  1. Molly Dworken 10/16/2012 05:33PM

    Make no mistake: Assisted living can be a costly senior housing option, and for the most part, it is paid for out of pocket. However, for those who have long-term care insurance, that can be applied toward the cost, as can Veterans' benefits.

    Before seniors can move into a residence, they will have to show they are financially able to afford living there for a good period of time. Should funds run out, however, there are different policies about procedure. Residents may be eligible for Medicaid Assistive Care Services, for example, if the state and/or the facility is a provider of those programs.

    However, unless there is someone else who has agreed to pick up the expenses, it is likely that the senior will eventually need to relocate to another place of residence that accepts Medicaid, such as a nursing home. Some assisted living communities will work with residents to find alternative solutions, such as offering the opportunity to share an apartment with another resident, but again, it's imperative to know your options beforehand.