This article is based on information provided by Home Instead Senior Care.
Expenses can be a serious challenge when your loved one needs to move into an assisted living facility. Each situation, and each family, is unique. However, it may be worth investigating the options below to find one, or more, that may work for you.
1. Check on veterans’ benefits, if they apply to your loved one.
2. Use a life insurance policy.
3. Find out what long-term care insurance will pay.
4. Look into an annuity.
5. Take out a reverse mortgage.
6. Rent out your house.
7. Pay with Medicaid or SSI.
8. Consider a bridge loan.
