Paying for Assisted Living

Paying for Assisted Living

Assisted living facilities offer a wide range of benefits; at Villa Palazzo, we offer built-in social enrichment, assistance with daily tasks, and access to high-quality on-site care. But we also know that paying for assisting living or memory care can be stressful. There are a variety of ways to pay for assisted living—some you may not even know about—and some residents may pool several resources to cover the expense.

8 Ways to Pay for Assisted Living in Georgia

Private Funds

Many individuals pay for assisted living using their savings, investments, and retirement funds. This is often the simplest method if the person has substantial savings or assets.

Family Contributions

Family members might contribute financially to help cover the costs of assisted living. This can be a collaborative effort to ensure the well-being of a loved one.

Long-Term Care Insurance

Long-term care (LTC) insurance is a type of insurance designed to help cover the costs associated with long-term care services for individuals who have difficulty performing everyday activities due to age, illness, disability, or cognitive impairment. Oftentimes, people use their LTC insurance to cover the cost of an assisted living facility. The coverage and terms of these policies can vary, so it’s important to discuss your policy with an insurance agent.

Veterans Benefits

Veterans and their surviving spouses may be eligible for certain benefits through the Department of Veterans Affairs (VA) to help cover the costs of assisted living. The Aid and Attendance benefit is an example of such a program.

Home Equity

Selling a home or using a reverse mortgage can provide funds to pay for assisted living. A reverse mortgage allows seniors to convert a portion of their home equity into cash, which can be used to cover living expenses. Reverse mortgages can be complex and can impact both the senior and their family members, so it’s important to work with a trusted financial advisor.

Renting the Home

If the senior owns their own home, renting it out could help cover some of the expenses of assisted living. This allows them to maintain ownership while creating income to cover expenses for senior living.

Social Security Benefits

Social Security income can contribute to covering the costs of assisted living, especially when combined with other funding sources.

Bridge Loans

Also known as a swing loan or interim financing, a bridge loan is a short-term loan that can provide temporary financial assistance until a more permanent or long-term financing solution can be arranged. Bridge loans can be used to cover the costs of assisted living until other sources of funding, such as the sale of a home, are available.

About Villa Palazzo

Enhancing Wellness with Each Touchpoint

Situated on beautifully landscaped grounds in Sandy Springs, Georgia, Villa Palazzo is a senior living residence that is home to two communities: Assisted Living and Memory Care. We strive to create a warm, friendly environment where seniors can thrive. Schedule a tour of our community today.

What Is Memory Care?

What Is Memory Care?

The Alzheimer’s Foundation estimates that 1 in 9 Americans over the age of 65 lives with Alzheimer’s disease, a form of dementia that causes memory loss, disorientation, and even depression. While many seniors’ needs can be met in independent or assisted living communities, memory care communities offer specialized care and programming geared toward seniors living with dementia and Alzheimer’s disease.

Memory care facilities are typically more secure than assisted or independent living to keep residents safe. Many people with dementia are prone to wandering, which when combined with memory loss or disorientation, can lead to devastating consequences. Memory care facilities also assist with daily tasks such as dressing, grooming, and medication management or will perform wellness checks more frequently. The best memory care facilities go beyond fulfilling basic needs by providing programs or activities that enrich residents’ lives and give them a sense of purpose.

When is it time for a memory care facility?

There are often early signs that your loved one’s memory is declining. Pay attention to the following symptoms that could point to cognitive impairment:

  • Wandering
  • Confusion
  • Increased agitation
  • Depression
  • Forgetfulness
  • Poor hygiene
  • Difficulty socializing
  • Changes in behavior

These signs can not only make day-to-day functioning more difficult but also put your loved one in danger. For example, your loved one could forget how to drive or wander away from home and forget how to get back. It’s important to catch these signs early before there is a risk to your loved one’s safety.

Many memory care communities require that residents receive a doctor’s evaluation and an official diagnosis of dementia, Alzheimer’s disease, or other cognitive impairment. If any of these signs resonate with you, talk to your doctor to secure a diagnosis.

How do you tell a loved one it’s time to go to memory care?

Whether your loved one is moving into a higher level of care or entering an assisted living environment for the very first time, it’s important to have a direct, honest, and loving conversation about the transition to memory care. Keep these points in mind when you’re preparing to talk with your loved one:

  • Clearly explain why you’ve made this decision. Emphasize that memory care can help them stay safe while still continuing to do the things they enjoy.
  • Be prepared for any number of reactions, such as anger, confusion, or sadness. Respond with love.
  • Remember that people suffering from dementia may forget where they are or why they are in memory care. You may need to have this conversation multiple times: press forward with patience and transparency.

It’s important–for both you and your loved one–to remember that transitions can be difficult. It may be uncomfortable at first, but pretty soon they’ll grow accustomed to the new environment and to the routines (set schedules are especially helpful for people living with dementia). Ask your memory care community if it offers family support groups to ease the transition.

What is Montessori-inspired memory care?

The Montessori-Inspired Lifestyle, or MIL, is an evidence-based approach to memory care developed by the Center for Applied Research in Dementia. MIL pulls inspiration from Dr. Maria Montessori’s work in child development and applies it to aging adults with dementia or other cognitive disabilities. Assisted living and memory care staff who undergo MIL training learn how to empower residents to be as independent as possible. This is achieved through tapping into each resident’s remaining strengths, designing environments where they can thrive, and helping them find purposeful activities and meaningful roles within their community.

What are some facilities that provide the Montessori method of memory care?

Any facility is welcome to practice the Montessori-Inspired Lifestyle, but there are only about 34 officially credentialed facilities across 22 states, including Oregon, Washington, California, Florida, Georgia, and Minnesota (view the full list of credentialed memory communities here). The Center for Applied Research offers three tiers of credentials: Bronze, Silver, and Gold.

Communities that effectively use Montessori principles benefit from healthier and happier residents, fewer drugs, fewer responsive behaviors, more satisfied families, and better staffing and census.

Did You Know? Villa Palazzo is the first MIL-credentialed community in Georgia and one of a handful that exists in the Southeast. Learn more.

Does a dementia patient improve with memory care?

Dementia is a progressive disease, meaning that one’s symptoms will only worsen over time. While a well-designed memory care program may not be able to turn back the clock, it can slow the progression and residents can enjoy living and even thrive. At Villa Palazzo, memory care residents have lots of opportunities to socialize and pursue their interests, an environment that fosters independence and engenders a sense of belonging.

Looking for a Memory Care Community in Georgia?

Situated on beautifully landscaped grounds in Sandy Springs near Atlanta, Villa Palazzo is home to the first MIL Gold Level-credentialed memory care community in Georgia. Our Memory Care neighborhood is designed to foster a community-based experience for the residents, their families, and staff. Group engagement programs help to establish social roles and create a sense of belonging, while singular care plans encourage personal choice and autonomy. For a community that empowers those with dementia and offers opportunities to flourish, look no further.