Moving to a new home is a momentous change and moving into an assisted living facility can be an even bigger change. Not only are you in an entirely unfamiliar environment, but you probably have questions about services, care, cost, and how to pay for this kind of living. Lincoln is home to dozens of assisted living facilities, and they even have a few award-winning communities. While the average cost of care here is a little higher than national averages, there is still a place for everyone.
The national median cost of assisted living facilities is around $3,628. Here in Lincoln, the average price is around $4,620. While that is a big price jump, there are affordable communities and many factors that determine your total cost.
SeniorAdvisor.com has current listings at places like Gramercy Hill which offers a studio starting at $2,140. There are also places like The Windcrest on Van Dorn that have two-bedroom apartments that start at $5,200. There are also places with prices everywhere between those two extremes, and depending on the location, services you use, and extra amenities you decide to get, your cost could be higher or lower than the average.
Your daily life in an assisted living facility will look different based on the community you choose and the services you use. The best thing about this kind of living is you can choose the things you want most during your retirement. If you have pets or need transportation around town, you can pick a place like The Legacy or The Windcrest on Van Dorn. Bickford of Lincoln has religious services and offers various therapists on call as well as podiatrists and doctors. Once you figure out how you want to live your life or what’s important in your day to day routine, you can find it in Lincoln.
Start by creating a list of requirements and wishes you want from your retirement lifestyle. Once you have that list, start asking your friends and family for suggestions. You could even talk to your doctor and see if they have any recommendations for places in your area. Online reviews can help you get a sense of how current or past residents felt about the place, and it can help you gather more information. You could also use a senior advisor in the area to assist you in your decision.
A senior advisor is a professional paid by the community they represent to help seniors find long-term care options. Once they know your needs and budget, they will come back with a few choices in the area. Most of the time, you don’t have to pay for their services, and they will even accompany you on visits to the places you like most.
At each visit, ask about the services included in the cost and any extra amenities. You don’t want any surprise charges. Find out if they have a continuum of care and bring along your checklist to see what they have that you like or what they lack. Remember to ask plenty of questions and if you need some guidance on what to ask, check out SeniorAdvisor’s Assisted Living Guide. This book has questions you should ask, information on how to pay for care, and what you need to do to make your move go smoothly.
Sticker shock can be a big problem as you start looking at assisted living but staying at home might be more expensive in the long run. In addition to in-home health care, when the need arises, you will also have to keep paying your mortgage, property taxes, homeowners insurance, and utilities. You will also have to take care of any necessary repairs and keep up the maintenance of your home. Selling your house and using those funds to pay for assisted living can help make the transition easier. However, if you have a spouse that still lives at home or you don't own a house, there are other choices.
Many low-income seniors rely on Medicaid assistance to pay for their assisted living community. If you meet the eligibility requirements and don’t have any big assets other than your house or car, you could use this program to help pay for your care. There are over 200 Medicaid certified facilities in the state, and many of them are in Lincoln. You can go to the Nebraska Department of Health and Human Services to learn more about Medicaid, see if you qualify for coverage, and apply for benefits.
VA Benefits are another way that some seniors can get coverage for their care. Veterans who served during a time of war could be eligible for coverage, even if you never saw combat. You can contact the regional office in Lincoln to learn more about this program, and if you’re a widow of a veteran, you might also be able to get coverage.
Long-term care insurance isn’t something that every senior has, but if you do, you might be able to use it to pay for assisted living. Check your policy to see what they cover when it comes to this kind of community and make sure that in addition to room and board, it includes any additional services you might need. You should also call your agent to talk about payout limits and set up a payment schedule. Older seniors are at risk for their coverage lapsing due to things like serious illness or various forms of dementia.
A few other options include using a reverse mortgage on your home to gain access to your home’s equity. You can use that money to pay for your care, but you will need to have a spouse remain in your house while you do that. You could also cash out a life insurance policy to pay for care. It’s important you talk with a financial advisor, tax professional, or an elder law attorney because both options could have serious tax and legal ramifications. Remember, you can’t use Medicare, health insurance, or worker’s disability to cover your care, so these are your main options for financial assistance.
Now that you know more about assisted living in Lincoln, you can start doing more research. SeniorAdvisor.com is full of helpful information that can make your decision faster and easier.
Find assisted living in Lincoln near you.