ott media tracking How to Pay for Senior Care and Senior Services

How to Pay for Senior Care

Care & Services
January 11, 2023

As you age, certain aspects of life may become more challenging to navigate. Many older adults require assistance, whether due to ongoing medical concerns or cognitive changes. Senior care services help older adults with everything from medical care to daily hygiene and transportation.

While assistance is essential for many older adults, the cost of their care can weigh on them and their family members. Some senior services can be expensive, especially over time. If you are looking for payment options to support your loved one, take a look at this guide on paying for senior services.

What Are Considered Senior Care Services?

Senior care is an umbrella term for several services designed to address seniors' needs. It includes:

Supported Independent Living

Supported independent living is an alternative to assisted living, allowing older adults to maintain more independence. In supported independent living, seniors live on their own and receive daily care from professional caregivers at specified times.

Assisted Living

Assisted living facilities provide seniors with the 24/7 care they need from highly skilled professionals. This type of care is an excellent option for older adults with severe cognitive decline or limited physical abilities. Staff members in assisted living communities are always available to help residents with their needs.

Memory Care

Memory care refers to various services and treatments for seniors with Alzheimer's disease, dementia, or other forms of cognitive decline. Memory care aims to slow the progression of cognitive symptoms and help seniors cope with their changing mental states.

Senior couple watching old photographs at home

Financial Options for Senior Services

When the time comes to seek assistance for an older adult, many people worry about the cost.

Fortunately, some resources can help alleviate the financial burden of senior care. Find out more about each of these resources here:

Long-Term Care Insurance

Long-term care insurance is one way to help cover senior care costs. Seniors with long-term care insurance have access to specialized coverage for specific senior services. This type of insurance allows seniors to access in-home care, skilled nursing services, memory care, and more.

Veterans Affairs

Sometimes the U.S. Department of Veterans Affairs can help cover the cost of care. The VA aims to provide medical and mental health care to veterans. When a veteran requires supportive services, Veterans Affairs may assist with the cost of options like in-home care.


Medicaid is the largest public payer when it comes to long-term senior assistance. Depending on what care or services you or your loved one requires, Medicaid may cover some of the costs.


Medicare is another option that could alleviate some of the cost of services for older adults and comes in two plans: Medicare Part A and Medicare Part B. Medicare Part A can cover inpatient care in a hospital, skilled nursing facility care, hospice care, and home health care. Medicare Part B can cover medically necessary services or supplies like therapy services.

Out-of-Pocket or Private Pay

While paying out-of-pocket or private pay is the most costly way to cover senior care services, there are certain ways to make the financial burden more manageable.

Some families arrange to split the cost between family members. Other families have savings set aside specifically for helping their loved one when the time comes.

Another option is using the funds from selling your assets or home to help pay for long-term care.

Other Financial Options

Sometimes, you can use real estate assets to pay for senior care. Home equity loans and reverse mortgages are two potential options to explore. Life insurance can also help cover the costs of senior services in several different ways. Contacting a financial advisor would be a great step to identifying if these options are viable for your situation.

Older people talking

How Can Pine Haven Christian Communities Help You?

Pine Haven Christian Communities is committed to providing quality long-term care for seniors, and we understand that finding the most appropriate payment options can be a concern for families. Our team of senior care professionals works closely with families throughout Sheboygan County to find the best care options that fit their individual needs and financial capabilities.

We offer a variety of financial assistance options, and depending on the level and type of care, some of the options listed above may be applicable. At Pine Haven, Medicaid is accepted as a payer source after an individual has privately paid for two years.

We take a holistic approach when assessing individuals' ability to pay for their care privately. This includes evaluating assets such as real estate property, life insurance policies, long-term care insurance, individual retirement accounts, stocks and bonds, and others.

It is important to us that our residents and their loved ones feel comfortable and confident in their care choices. For this reason, our team is always available to answer any questions and provide personalized guidance.

Please do not hesitate to contact us online or by phone for more information on long-term senior care planning and to schedule an assessment for you or your loved one. We look forward to assisting you on this journey.


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