“Every day, I talk with people about their senior living options,” says Deb Veit (our Director of Community Relations and a licensed LPN). “Just about everyone asks me what would happen if Mom (or Dad) were to run out of money to live here. I’d ask the same question if I were shopping around for my parents or myself. A lot of people are outliving their resources these days.
“Different senior communities have different answers to this question, so be sure to ask,” says Deb. “These are the answers I give people about the residences on our Episcopal Homes campus…”
Independent Living
“We have two Independent Living residences on our campus, Cornelia House and Seabury. The monthly rent at Cornelia House is moderate market rate. Seabury is HUD-subsidized, and rent is pegged to 30% of one’s monthly income, whatever it may be. That means one can never run out of money to live at Seabury. We have good news for people who live at Cornelia House too. Five of its 47 senior apartments can be designated ‘affordable’ so rent would be pegged to a percentage of income instead of the full amount.”
Assisted Living
“Iris Park Commons is the Assisted Living residence on our campus. As a person runs out of resources, a staff member will help the resident apply for Elderly Waiver. Elderly Waiver is a County program that funds home and community-based services for people (age 65+) who are eligible for Medical Assistance (MA) and require the level of care provided in a nursing home, but choose to remain in their community.
“Iris Park Commons is the Assisted Living residence on our campus. As a person runs out of resources, a staff member will help the resident apply for Elderly Waiver. Elderly Waiver is a County program that funds home and community-based services for people (age 65+) who are eligible for Medical Assistance (MA) and require the level of care provided in a nursing home, but choose to remain in their community.”
Nursing Home
“At Episcopal Church Home, we help the family apply for Medical Assistance (MA) when their loved one has about three months of resources left to pay for their care. Medical Assistance determines a ‘resource amount’ that the resident can afford to pay, allowing the resident to keep $94 per month for personal expenses. Medical Assistance will then cover the remaining portion of the cost of care.”
Something you should know about Medicare
“Contrary to widespread belief, Medicare does NOT pay for long-term care. Medicare only pays for a person to stay in Transitional Care (short-term rehab) while they are receiving prescribed therapy after a qualifying hospital stay. Please take note of that!”
Always ask what forms of payment a senior community accepts
“Make sure that any senior living community you explore accepts all of the payment forms that you may ever need. At Episcopal Homes, we accept private pay, Elderly Waiver, Medical Assistance, and long-term care insurance. This means that if your loved one runs out of money, they will still be able to stay in their home on our campus.”
Do you have any questions about senior living issues and options? Call Deb Veit at 651-632-8800 or get in touch with Deb through the “Leave a Reply” form below. Your question could inspire a whole blog post!