One way to reduce the cost of in-home or assisted living costs is to seek financial assistance. Your options may include investigating Medicare and Medicaid, long-term care insurance, cash value life insurance, reverse mortgage, and Aid and Attendance benefits for eligible veterans and their spouses. Also, consider the home's location, shared living options, the size of home, and level of care required. You can also check the National Council on Aging's BenefitsCheckUp to find out what programs you may qualify for. For those already in assisted living communities and who can no longer afford the rent, try asking for a reduction.