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Does Insurance Cover Or Pay For Memory Care?

Finding Insurance Coverage For Your Loved One With Memory Loss

Families of loved ones experiencing memory loss and/or the difficulties of Alzheimer’s disease or dementia may reach a point where they consider memory care. Having a specialized team of support and a secure place to call home often brings greater peace of mind to those facing memory loss as well as their families. However, we understand families may not know where to start when it comes to checking coverage for memory care – so here you’ll find some of the various factors to keep in mind.

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 Medicare, private insurance, a group employee plan, retiree health coverage, disability insurance, veterans benefits or long-term care insurance – may help pay for care.

  1. Medicare: Outside of 100 days of skilled services or rehabilitative care for a qualified stay, Medicare does not cover long-term care. What Medicare Part A does cover is hospital stays, short stays in a nursing home for certain kinds of illnesses and hospice care in the last six months of life – all after a standard yearly deductible. Medicare Part B pays partial fees for doctor’s services, outpatient care and other medical services not covered by Part A, as well as some preventive services, while Medicare Part D covers some medication costs.
  2. Medigap or MedSup: Supplemental coverage can be helpful if you have to rely on Medicare for assistance with dementia-related health bills. Although plans and benefits vary widely, some policies could help pay for Alzheimer’s and dementia care and are worth considering.
  3. Medicaid: Individuals with memory loss may qualify for medical care through Medicaid if they can demonstrate very low income and limited assets. Policies through Medicaid include coverage for long-term care for certain medical diagnoses.
  4. 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.
  5. 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.
  6. 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.
  7. 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.

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