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5 Best Options To Pay For Assisted Living in Michigan

The average cost for Michigan assisted living is $3,825 and the number of assisted living partner properties are around 452.Read to know more.

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5 Best Options To Pay For Assisted Living in Michigan

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  1. 5 Best Options To Pay For Assisted Living in Michigan

  2. There is certainly no shortage of assisted living communities throughout the state of Michigan. The average cost for Michigan assisted living is $3,825 and the number of assisted living partner properties are around 452.Michigan received an outstanding rating for the accessibility and openness of public records regarding senior living communities, The state was ranked #6 on assisted living records and reports transparency. Anyone can easily view the assisted living records in Michigan via an online search form. Michigan does not require every assisted living home to be licensed. Michigan law basically requires a license for senior living homes which provide services such as: supervision for 24 hours a day for more than 5 days a week, meals and proper personal care.  Furthermore, assisted living communities that offer two of the services and get help from a third party service provider to provide the third service are not required to have a license to operate in Michigan. If you are looking at options and are confused about the cost structure, we have listed some financial resources which you can use to pay for assisted living in Michigan: 

  3. Long-Term Care Insurance:  A majority of the long-term care insurance policies has a provision for assisted living care. It would be a good idea to check your senior loved one’s insurance policy to see if they can make the most of this coverage.  • MI choices: • TheMichigan Medicaid waiver program provides assistance to seniors who are looking for a supreme level of care and possess limited set of financial resources to pay for such care. 

  4. Aid and Attendance Benefit: This benefit is through the Veteran’s Administration. If your loved one is the surviving spouse of a veteran or was a veteran they may leverage this financial assistance.  • Private Funds: • If it’s an option, one can always use family’s private assets, investments and funds. 

  5. Short-Term Loans: There are some banks that provide a bridge-style home equity loan that gives short-term funding while family trying to liquidate some of the assets to pay for the senior care.  We are hopeful that these ideas will help you put together a superb financial plan for your senior loved one’s care. We also strongly recommend families to take a tour of the assisted living community to ensure that you end up selecting the ideal assisted living community that meets the requirements and personal preferences of your senior loved one. 

  6. THANK YOU Stonecrest of Rochester Hills 1775 S Rochester Road Rochester Hills, MI 48307 Phone: (248) 266-7680 Fax: (248) 266-7681 http://www.stonecrestofrochesterhills.com/ Kbrent@stonecrestseniorliving.com

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