Report Helps People Find Ways to Pay for Assisted Living

SEATTLE, June 26, 2012 /PRNewswire/ -- Stratford Retirement publishes a report to help people make informed decisions about the costs of senior living facilities.

Caregivers and the elderly searching for assisted living facilities in the United States now have a new resource to help guide them through the maze of payment options associated with care facilities. Stratford Retirement, a recognized assisted living and memory care facility in Seattle, has released a free report to help loved ones make informed financial decisions about how to pay for elderly care.

Entitled "Paying for Assisted Living," the report covers the multitude of payment options available to families. It includes advice on applying to government-sponsored programs and explains what health insurance options may reduce the cost of moving into a new home.

According to the staff at Stratford, assisted living facilities typically provide apartments or condominiums to elderly adults in need of assistance with common tasks. These tasks may include bathing, laundry, getting dressed, or eating. Despite these needs, seniors in assisted living generally don't need full-time nursing care. Although the costs of assisted living facilities is less than that of a nursing home, navigating the options may be confusing for seniors who have been living independently for decades.

The report details how the majority of assisted living cost is paid out-of-pocket or cashing in on home equity. For low-income seniors, several alternative funding sources and options exist. These include Veterans Administration Aid, life insurance settlements, and private long-term care insurance.

While many seniors expect to rely on Medicare to foot the bill for senior housing, the report explains this is not often the case. Assistance from Medicare is very limited. On the other hand, Medicaid may be an option for some low-income and disabled seniors in certain states. Although Medicaid typically only covers nursing care, each state sets its own regulations on how funds are distributed.

This report also covers costs associated with memory care, also known as dementia care or Alzheimer's treatment. Memory care is considered a specialized type of assisted living, and the cost structure and payment options are often similar.

Despite the growing need for Alzheimer's care, many assisted living facilities are not properly equipped or certified to care for residents with memory needs. The staff at Stratford Retirement aims to help families determine whether or not the assisted living facilities that they are considering are able to handle someone with dementia.

Caregivers and families that want to download this report free of charge should head over to: http://stratfordretirement.com/guide.php

About Stratford Retirement

The Stratford at Maple Leaf is a recognized retirement facility that offers Independent, Assisted Living, and Memory Care all under one roof in Seattle.

More Info: http://stratfordretirement.com/

Contact:

Cyrus Shepard
Stratford Retirement
[email protected]
310-994-1642

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SOURCE Stratford Retirement