Different Insurance Options For Memory Care
First of all, we recommend keeping any existing health care or insurance plans active that may help meet your loved one’s care needs. Various insurance policies – including private insurance, a group employee plan, retiree health coverage, disability insurance, veterans benefits or long-term care insurance – may help pay for care.
Medicare does not cover long-term care – although Medicare coverage may help with any medical costs incurred with memory loss. Medicaid coverage is not accepted at our community; however, you can look into these additional types of coverage in order to find assistance.
- Employee or Retiree Health Plan: If an individual is diagnosed with Alzheimer’s or other forms of dementia long before turning 65, they may be eligible for coverage through private insurance – either a group employee or retiree health plan may help pay for some expenses.
- Veterans Benefits: Through the Veterans Aid and Attendance program, veterans and their spouses may qualify for monthly benefits to help with the costs of memory care. Eligible veterans must apply through the Veterans Administration and are encouraged to apply early because the process can take several months to complete.
- Disability Insurance: A disability policy provides income for a worker who can’t work due to illness or injury; however, this type of plan would need to be in place before symptoms of memory loss begin.
- Long-Term Care Insurance: In order to utilize long-term care insurance for memory care, a policy needs to be in place prior to diagnosis of dementia or Alzheimer’s. If you plan ahead, long-term care insurance can help pay for memory care – but be sure to compare each policy to see how much it will pay per day and how many days or years it will pay out.
Memory care at Longleaf Bee Cave helps families provide a comfortable, safe and familiar home for your loved one where we can work together to confront the challenges of memory impairment. If you need assistance determining how to pay for memory care, we’re here to support you.