Paying for Senior Care: What Families Need to Know
June 17, 2025
Understanding how to pay for senior care can feel overwhelming. Fieldstone Communities offer different levels of care—independent living, assisted living, and memory care—and each comes with its own costs and coverage options. Here’s a breakdown of what to expect, and how families typically handle the financial side of senior living.
Independent living
Independent living communities are designed for seniors who are active and self-sufficient but want a maintenance-free lifestyle with access to amenities like dining, activities, and housekeeping. Since medical care is not included, this type of living is generally not covered by insurance.
How families pay: Most often, independent living is paid for privately through retirement income, pensions, savings, or proceeds from selling a home. Because it’s a lifestyle choice rather than a medical need, insurance rarely plays a role here.
Assisted living
Assisted living provides help with daily tasks like bathing, dressing, medication management, and meals. It strikes a balance between independence and support.
How families pay: Assisted living is usually paid for out-of-pocket, through savings, or with the help of long-term care insurance. Some states offer Medicaid waivers that may help with costs, but these vary and often have waiting lists.
Memory care
Memory care is specialized assisted living for residents with Alzheimer’s or other forms of dementia. These communities are designed for safety and structured support, with trained staff on-site around the clock.
How families pay: As with assisted living, memory care is usually paid for privately or through long-term care insurance. Some families also tap into veterans’ benefits, life insurance policies, or bridge loans during the transition period.
What about Medicare and private insurance?
Though assisted living and memory care services and housing costs are not covered under Medicare, certain medical needs such as prescriptions, hospitalization, or physician visits may be covered under select supplemental plans.
“Medicaid could help pay, but not all facilities have beds dedicated to that funding,” said Maricel Halmo, Community Relations Director at Fieldstone of Marysville. “Medicare does pay for short stays in skilled nursing facilities if there were to be an accident or a fall.”
Potential residents who have long-term care insurance should also check whether their policy covers any part of their expenses.
“Long-term care insurance usually has an elimination period, could be 30 to 90 days, and will not typically cover any move-in fees,” Halmo said. “Sometimes there’s very specific verbiage, it’s very plan specific.”
If you need clarification about your long-term care insurance plan, Halmo says the best place to turn is where you got the policy in the first place.
“Talk to the plan provider, that’s what they are there for,” she said. “You want to really understand what your plans cover so you aren’t faced with any surprises.”
As you explore senior living options, understanding the levels of care and how they’re funded is key to making informed decisions, but so is understanding what that funding is ultimately buying. Most senior living is paid out of pocket, so families should compare more than just the base rate. Take a good look at what’s included—some communities offer much more in terms of amenities, care, and connection. That’s where your money really makes a difference.
Fieldstone of Marysville always tries to go above and beyond to make sure residents are supported in every aspect of their daily life. Take the new Medical Director of Behavioral Health for example. He’s a nationally recognized, board-certified psychiatrist and author who has treated more than 20,000 dementia patients over his 40-year career. This partnership will ensure residents have 24/7 access to behavioral support and care for complex dementia-related behavior.
We’re here to help you navigate your choices and understand what fits both your loved one’s needs and your budget. Contact Fieldstone of Marysville to learn more.