A senior couple calculates the cost of moving to senior independent living in Michigan

Who Pays for Senior Living?

“Who pays for senior living?” is a question that a lot of seniors considering taking the plunge ask before they get started. In short, it’s you. The majority of seniors living in senior living facilities pay for the costs themselves through savings, pensions, retirement plans, and more. 

There are some ways to receive help with the costs of senior living. One option is to actually sell your life insurance policy to a third company and receive the cash benefit of what you’ve already paid for. The only downside to this is that you and your family will not receive any kind of payout in the event of your death or should you choose to leave senior living.

Things like Medicare and Medicaid will only pay for small things, like therapeutic care in an assisted living facility. Some private health insurance companies like Blue Cross Blue Shield and Aetna may assist with skilled nursing costs, but will rarely contribute to a senior living facility without that specialized care. However, they might pay for some of the services you receive while in senior care, so do some research with your insurance companies to find out!

Once you’ve made the decision to transition to senior independent living in Michigan, then it’s time to decide how you’d like to pay for it. If you’re struggling with budgeting and need some ideas on how you might be able to get a little additional help, then look no further. Here is a list of some ideas that might help:


Tip #1: Ask Your Chosen Provider About Flexibility Payments or Specials

Just like with moving into an apartment, the time of year, location, and more may affect how much you actually need to pay in a senior living facility. When you’re searching around for the best place to move, ask if they have any kind of move-in specials or if they offer any kind of discounted rates. This may not be the case, but it doesn’t hurt to ask! The worst thing that they can say is no. 

You can also speak with the complex to see if any of the entrance fees can be waived or if there is a discount for paying in a larger, lump sum instead of several smaller ones. There is no guarantee that the facility offers this, but they also may not offer that information up front. Don’t be afraid to ask questions and do research!


Tip #2: Think About Having a Roommate

Having a roommate is an easy way to afford living in a nicer area for both younger and older people alike. It may definitely be more appealing to have a room to yourself, but don’t be afraid to hunt for a roommate in order to cut living expenses. With a roommate, you’ll be able to afford a nicer living space for a cheaper price! Plus, having a roommate will help prevent you from getting lonely and will always give you someone to talk to. 


Tip #3: Save Money With Moving

One of the major costs associated with moving, whether it be from house to house, apartment to apartment, or into senior independent living in Michigan, is the actual move itself. Trying to hire movers, get packing boxes, and everything else that goes along with moving can make the costs add up quickly. 

Moving from a home into a senior facility is the best time to start paring down your belongings as well. Sell larger items that you won’t be able to bring with you for some extra money or set up a large yard sale to assist you with selling items. Estate sale organization is a great tool as well, and can often be contracted out to other companies to help with all of the legwork.

A stack of moving boxes piled in a room


Tip #4: See if You Qualify for Any Tax Credits

Moving into senior independent living in Michigan is a great time to see if you qualify for any additional tax credits. You might qualify for tax credits if you require additional medical assistance, and caregivers or family members who pay at least 50% of the cost of the facility may be entitled to tax credits as well. If you have a trusted person who helps with your taxes, then ask them if they have any information. 


Tip #5: Ask About Different Pricing Plans

Different services might offer different pricing plans, so it doesn’t hurt to ask if there are different pricing plans at your facility. If you’d prefer to be in charge of all of your own food and opt for no kind of meal plan, then that might affect the price of your stay. Or, if you don’t require any kind of additional medical assistance (other than the typical checkup), you might be able to opt out of some of the on-site medical services. Check to see if your facility allows you to break things up, and if they do, opt not to pay for the services you don’t need or use. 


Check Out Reserve at Red Run

Here at Reserve at Red Run, we want your time in senior independent living in Michigan to feel like being at home. It can be stressful to have to sit down and figure out what exactly you want to do and how you want to pay for your services, especially if this isn’t something that you’re familiar with. It’s important to remember that you’re the one going to be living in the facility, though, and you’re allowed to ask as many questions and get as much information as you can in order to make the best decision for you and your family.

At Reserve at Red Run, we strive to be as open and honest as possible with our residents about our pricing plans, and are up-front about the baseline costs. If you’re interested in making Reserve at Red Run your next home, contact us today to discuss your options.