independent living payment options

What You Need to Know About Paying for Independent Living

The aging population is growing more every day and with it comes the increasing need for elderly care. Retirement is an inevitable part of life and when that time comes you may want to start considering your options for places where you can still live as independently as possible in a safe and secure place designed specifically for the elderly. Independent living is a residential care option that offers the lowest level of assistance to its residents. Also called a retirement community or senior housing, this community is the ideal choice if you just want a place where you can minimize your daily responsibilities and focus on living an active life and socializing with your peers.

But the question is: how can you pay for independent living?


The Cost of Independent Living

The average cost of independent living ranges between $1,500 and $6,000 per month, according to the American Seniors Housing Association.

This depends on the type of residence that you choose, the amenities offered in the facility, the location of the residence, and the level of services that you can enjoy while living in the community. The cost will also depend if you wish to buy or rent the residence.


The Payment Options

Unfortunately, you cannot use Medicaid or insurance to pay for independent living costs, as they are only used for nursing homes, home care, and assisted living facilities. This is why you’re required to use your personal income to take care of these expenses.

With the help of your family, you can use your personal income, savings, pension payments, or investment retirement accounts. You can also use these other options to pay for independent living:


Annuity Payments

This is a type of insurance that is often part of a retirement funding strategy. Here, you’ll be making an initial investment where you will be entitled to a future payment that can be scheduled annually, monthly, quarterly, or as a lump sum.


Social Security Benefits

Your social security retirement benefits can be used together with your other pension payments to cover the cost of independent living.


Housing Assistance

The U.S. Department of Housing and Urban Development (HUD) offers several programs to help low-income seniors find safe and comfortable living arrangements as stated in Section 202L Supportive Housing for the Elderly Program.

If you meet the eligibility requirements for low-income housing, the government will pay 30% of your income to be paid mostly on rent and other expenses.


Supplemental Security Income (SSI)

The government also offers Supplemental Security Income (SSI) for individuals aged 65 years and older who have disabilities, are blind or have limited assets and income.

If you belong to this category, you can apply for SSI to over for expenses like your monthly payments for independent living.

At the end of the day, you have to choose a residence where you can feel safe, comfortable, and as independent as possible.

Independent living facilities offer you the opportunity to enjoy the best quality of life in your late adulthood years.


Richmont Senior Living is proud to serve Ashland, NE and the surrounding cities: Memphis, Springfield, South Bend, Greenwood, Murdock, Waverly, Murdock, Ithaca, and Chalco

dementia in assisted living

Can a Person With Dementia Live in Assisted Living?

Dementia is silently taking away people’s memory, thinking, and ability to perform daily activities for many years. Today, at least 50 million people suffer from this debilitating syndrome with 10 new cases added to the statistic every year.

The sad truth is that patients suffering from dementia will need specialized care for the rest of their lives and especially as their condition progresses.

If you already feel overwhelmed with caring for a loved one with dementia, you may be starting to look at options for memory care including memory assisted living. But can this facility accept patients with dementia?


Defining assisted living residences

A memory assisted living facility offers care for individuals in the early stages of dementia and Alzheimer’s disease. Most of these patients need intensive support for their Instrumental Activities of Daily Living (IADLs) to make sure they enjoy a good quality of life.

Some individuals with dementia also need help with Activities of Daily Living (ADLs).

In memory assisted living, patients can either live on their own or in a shared apartment and they will have 24-hour access to a staff who can assist them with their needs. This type of facility is ideal for patients who can still live independently but require assistance mostly with ADLs like:

  • Toilet use and cleaning oneself after
  • Bathing
  • Control of urine and bowels
  • Moving
  • Eating
  • Grooming


Other residential care options for dementia patients

While assisted living facilities are good for independent patients, there may come a time when they would need more specialized care in a memory care unit. This facility is ideal for individuals who need skilled care and supervision, especially those who are in the advanced stages of dementia and Alzheimer’s disease.

Also called Special Care Units (SCUs), these units could be a separate residence or a part of an existing memory assisted living facility or nursing home and they can offer both separate and shared living spaces.

Memory care units have the same services as assisted living facilities. The only difference is the level of supervision and the additional activities offered by staff to help with stimulating the patient’s memory to hopefully slow down the progression of dementia.

In some instances, a patient may need to be transferred to a skilled nursing facility where extensive medical care is provided. Nursing homes are especially recommended for patients in the later stages of their condition or those who already have serious complications from the disease.

If your loved one already has a tendency to wander off, if he poses a threat to himself or others, if he has difficulties to keep himself healthy and properly hydrated or if he is no longer able to perform even the simplest activities of daily living, it might be time to move him to a nursing facility.


The bottomline

The decision to move a loved one to memory assisted living is not easy for any family. But if it means that you’ll be able to give your loved one the best quality of life while battling dementia and Alzheimer’s disease, then it’s definitely a wise decision.


Richmont Senior Living is proud to serve Ashland, NE and the surrounding cities: Memphis, Springfield, South Bend, Greenwood, Murdock, Waverly, Murdock, Ithaca, and Chalco