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Village at Belmar

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7825 W Alameda Ave Lakewood, CO 80226

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How to Save on Assisted Living Cost

The cost of assisted living is something many families tend to worry about as they begin to look for a new home for their loved one. Moving your family member into an assisted living community is a big step. It’s also the best step they can make when the time is right. So don’t let the fear of “how will you afford it” get in the way. Your loved one deserves quality care in a community fit for their needs.

Even though there are many options out there to help seniors get the care they need at an affordable cost, a lot of the time the solutions are overlooked. Plus finding the right home is hard enough -- adding money into the mix will only make things worse.

So, to alleviate some of your worries, we came up with a few of the best strategies to help ease the pain of assisted living cost. The following tips will help you and your family save on money and still get your loved one the care they need.

Lower Your Assisted Living Cost

Do Your Research

Like most big decisions in life, it’s always best to start with some research. You should research and evaluate different assisted living communities online to get a feel for the cost. Then you can narrow down your choices to a top few that are in your budget.

Consider All Your Options

Just like the cost of rent and housing anywhere, the cost of assisted living depends on the location. Just by looking one city over, you could save money. So if the location of where your loved one moves isn’t set in stone, then consider your search in a wider area.

Take a Tour

Once you fall in love with a community online, schedule a tour. Take your loved one so they can get a feel for the community as well. This will save you money in the long run because if you pick the right home the first time, there will be no need to move your loved one again. Moving assisted living homes could end up costing far more than you planned, so it’s best to take the time to make the right decision.

Discuss Cost Flexibility

It never hurts to ask about price flexibility. There’s a chance you can negotiate a reasonable monthly price if the price isn’t set in stone to begin with. This may not be an option at every assisted living residence, but if you’re looking to moderately lower the payment, it could be a good decision to bring it up.

Look into Insurance

Medicare and Medicaid can help those that can’t pay for assisted living care out of pocket. However, they don’t usually cover everything so a few other options include long-term care insurance (LTCI) and estate planning.

Find a Roommate

Most assisted living residences offer two or more bedroom apartments -- this could be a great way to cut the cost. Though a shared room might not be an ideal living situation, it will save you 50 percent on a single unit. That means you could save a significant amount of money each month. Plus there’s the socialization benefit that comes along with a roommate.

Explore Veteran Benefits

The Department of Veteran Affairs offers a pension benefit to help with the cost of in home care, a nursing home, or an assisted living residence. So if your loved one served in the armed forces, they may be eligible for up to $1,794 per month, and their surviving spouse may be eligible for up to $1,153 per month.

Determine Your Priorities

What are the priorities for your loved one? Once you determine which amenities are a must-have and which ones you can live without, making a choice will be easier. Plus you’ll save on money if you find somewhere with great care and you aren’t paying for resources that your loved one may not use, such as a spa or workout room.

Speak with a Professional

At the Village at Belmar, we have care professionals that are experts in finding the right living community for your loved one. Whether it’s independent or assisted living, we know it’s not easy for everyone. That’s why we want to help you along the way. Contact us today to speak with one of our dedicated staff members and find out how you can save.

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I live in a wonderful senior community. It is free of all the obligations that come with a house.

- Jim & Connie (Residents)

We enjoy the comradery and activities such as the train game, board games, and social interaction.

- Jim & Connie (Residents)

You need socializations and friendship. It is one of the best things here.

- Terry (Resident)

If you want a safe, secure, and happy place to live, this is the place you would want a loved one to be.

- LouAnn (Resident)

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