There comes a time in many seniors’ lives when they may need to consider moving to an assisted living facility. One of the primary worries of seniors and their families during this period is the cost. When moving into a Colorado assisted living facility, you shouldn’t need to worry about money. Often, many people seek to pay for some of their care through Medicare or other insurance.
What Is an Assisted Living Facility?
An assisted living facility seeks to help seniors maintain their standard of life and freedom while giving them help with some of their daily needs. These facilities are often communities made up entirely of other seniors or those with disabilities.
At an assisted living facility, the staff will help residents with tasks like getting prepared for the day or making sure that a trip to the bathroom goes smoothly. These facilities do not provide the same intensive care as a nursing home, but they do allow seniors to enjoy more freedom and independence.
Does Medicare Pay for Assisted Living in Colorado?
In short, Medicare will not pay for your assisted living costs in Colorado. The government designed Medicare to help with immediate medical expenses rather than long-term, custodial care. While Medicare won’t cover your entire bill at a Littleton assisted living facility, it may help you pay for some expenses while you live there.
If you need help with certain services, such as physical therapy or changing wound dressings, this can be paid through Medicare, as it is an immediate medical need. In general, Medicare covers services that you get from a certified nurse or doctor.
Assisted living facilities are not places where residents receive constant nursing care. Many of the facility’s benefits are custodial, helping residents with day-to-day activities, like getting ready in the morning or taking the correct medication before bed. These expenses aren’t part of Medicare coverage.
What Will Medicare Cover?
Medicare is open to those over 65 or to certain individuals under 65 who have a disability. It acts like an insurance program and covers expenses related to any medical treatment that a senior may need. Medicare does not fully cover every aspect of medical expenses, but it can offset typical ones that a person may need to access throughout their senior years.
Some of the benefits that you can find in Medicare coverage include:
- Dental care
- Hospice care
- Home health visits
- Basic hearing care
- Vision care
- Hospital inpatient and outpatient care
- Preventative services
How Much Does Assisted Living Cost on Average?
Paying for senior care can be expensive. Assisted living facilities generally cost less than nursing homes, as assisted living facilities focus more on maintaining a senior’s freedom than around-the-clock care. Still, a stay at an assisted living facility will end up being expensive for a senior or their family.
The average price to stay in an assisted living facility in Colorado is $4,750 monthly. This number will fluctuate depending on the facility, the amenities it offers, and the location. An assisted living facility in Boulder will cost less than one in a rural area. You can find some assisted living facilities that charge as little as $3,800 monthly and some that charge up to $6,3000 a month.
If a senior requires special accommodations due to Alzheimer’s or other memory conditions, this may add to the price. Some facilities will charge you an additional fee, around 20 to 30 percent, for the extra care required to assist seniors with cognitive decline.
How Can You Receive Financial Help to Stay in an Assisted Living Facility?
There are a few methods to help ease the financial burden of paying for an assisted living facility in Colorado. Unfortunately, state Medicaid does not cover assisted living expenses in Colorado, so you’ll have to look to other alternatives to help pay the bills.
You can purchase long-term care insurance that should partially or completely cover the expenses of an assisted living facility. These plans often have a waiting period at the start, so you should prepare ahead before you need to check into an assisted living facility.
The other primary method for paying is through veteran benefit programs like the Aid and Attendance benefits. You’ll have to ask a doctor to sign off on the need for daily help before you can use the program’s benefits.
FAQs
Q: What Is the Difference Between Medicare and Medicaid in Colorado?
A: Medicare comes from the federal government, while Medicaid (called Health First Colorado) is a program that both the state and federal governments administer. Medicaid seeks to help low-income families with medical coverage and is generally more comprehensive than Medicare. Medicare is for those with disabilities or citizens who are over 65 years old.
Q: Does Colorado Pay for Medicare Premiums?
A: Colorado’s Medicaid program pays for some residents’ Medicare premiums if they are on the Medicare Savings Program. This is for those in the Medicare Part B program that covers supplementary medical insurance, rather than the Part A program. Medicare Part A covers hospital insurance, and you can get it for free once you reach 65.
Q: What Is the Average Cost of Medicare in Colorado?
A: The 2024 Medicare Advantage plan monthly premium will be $15.84 for Colorado residents. The state is also offering 20 new Medicare Advantage plans. Medicare Advantage is the Part C program, which offers plans from private companies with the approval of Medicare. Other programs may charge more in monthly premiums but offer more services.
Q: How Much Does Medicare Pay for Assisted Living in Colorado?
A: Medicare does not typically pay for the costs of assisted living in Colorado. You may be able to have your Medicare coverage partially handle some of the expenses, but this can only be for services where a nurse or doctor provides medical treatment or other care. Other programs can help with payments, like veteran benefits or a long-term private insurance plan.
Rocky Mountain Assisted Living: Experienced Colorado Elder Care
Getting older comes with many sources of stress and anxiety, but you shouldn’t let paying for an assisted living facility be one of them. While Medicaid may not cover your stay at an assisted living facility, you can find other programs to help you offset the cost.
At Rocky Mountain Assisted Living, we aim to provide a smooth transition and a wonderful facility for seniors. Contact us today for a tour and see why so many people trust our services.