Among the most common questions we receive from families are those pertaining to finances, and with good reason. The transition to senior living is a major undertaking and requires considerable forethought and planning to ensure stability and long-term success. At SilverCrest, we believe this new chapter should help to alleviate stress and uncertainty, not be the cause of it.
We encourage you to use our team as a resource for better understanding the ins and outs of this process and to help break each part down into manageable pieces. Below are some answers to frequently asked questions; as always, please feel free to contact us if you need assistance or would like to learn more.
How Much Does Senior Living Cost?
The answer to this question depends on a variety of factors including resident needs, floor plan, unit preferences and more, so please contact us directly for accurate pricing.
Can I Speak With Someone in More Detail About Financial Planning?
In addition to the guidance provided through the links above, the experts at SilverCrest are familiar with this area and would be happy to assist you. Call us today with any questions you may have at (832) 219-7472 and speak to an expert on our staff.
How Can I Ease the Financial Requirements Involved with Senior Living?
One of the first places to seek financial assistance in senior living is Medicaid, which pays for some of the associated costs in 44 states, including Texas. There are certain requirements for this type of coverage, and you can learn more about your eligibility by visiting Your Texas Benefits website.
Your loved one may also be eligible for the Texas Community Care for the Aged/Disabled (CCAD) program, which is designed to help seniors and disabled individuals receive care at home, in foster care or in Assisted Living communities. This non-Medicaid program also includes some requirements for eligibility, generally around income level. If you would like to learn more or enroll in this program, contact your local Aging and Disability Resource Center (ADRC)
Elderly veterans also may be eligible for benefits as a result of their heroic service. Find more information through the US Department of Veteran Affairs.
There are many more ways to seek financial assistance, including these:
Supplemented Social Security benefits
Reverse mortgages & HELOCs
Life insurance benefits and conversions
Assisted Living loans
Long-term care insurance
For more specific information click here.