See our Privacy Policy to learn more. Okay, Got it MENU FIND YOUR COMMUNITY AFFORDING CARE Financial Resources Making a decision about the right community for your loved one is a tough process. It also can be challenging to put a price on quality care. Meridian Senior Living can help you learn the many options and resources so you can have assurance about the ability to afford the senior living care that you need. Here are some resources to help you guide through the journey: Can I Afford It? To simplify your move to one of our communities, we offer a number of financial resources. Whether you need time to sell a home for the best possible price, are waiting for veterans benefits to arrive, or simply prefer the convenience and flexibility of smaller monthly payments, we can help you access the senior living lifestyle you want and deserve. Contact the Meridian Senior Living community nearest you at our Community Page and speak to one of our team members. Cost of Living Calculator Cost of Living Calculator The first step to determining how much you can afford is to determine how much you already spend. Use our Cost of Living Calculator worksheet to guide you. Click here to download. Federal Aid Medicaid Medicare Medicare Advantage Life Insurance Policies Meridian Senior Living has partnered with Abacus Life to help families and residents pay for senior living. Life insurance is often a older adult’s most valued asset and one they can use to alleviate retirement costs. Like your home or other personal assets, a life insurance policy is personal property, a living benefit, that has a fair market value. Knowing that value is important. Selling your policy for fair market value is your legal right, and is a viable choice to create more options for your retirement income. Click Here to visit the Abacus Life website. Tax Deductions The IRS allows certain expenses associated with long-term care to be deducted on a federal tax return. Residents of a senior living community might be eligible for a tax deduction and reduce the overall cost of the senior living community. It’s important to speak with your tax advisor for more information. Click here to visit the Internal Revenue Service (IRS) website. Veterans' Benefits (VA) Meridian Senior Living has partnered with Elderlife Financial Services to help families better understand their Veterans Benefits. Veterans' benefits may be available to help pay for assisted living care, ancillary services, adaptive devices, medications, support groups, transportation, and much more. Benefits are available to former veterans, as well as their surviving spouse, with some married couples receiving over $27,000 annually. Applicants can benefit from the guidance of benefit experts in navigating the tedious application process, often proving room and board assistance and ancillary services far beyond the residents’ expectations. Click Here to visit the Elderlife VA Pension website. Long-Term Care Insurance Long-term care insurance is a resource that helps pay for senior care expenses up to certain amounts that are detailed in the policy. Depending on the type of policy, long-term care insurance will help pay for a wide variety of services in senior communities. To understand the full policy benefits, it’s important to begin with the Benefits Summary, which includes the type of coverage, daily benefit, policy limit, and elimination period. Understanding your long-term care policy and filing claims can be overwhelming, and many times mistakes are made that result in loss of coverage, so having access to experts can be helpful. Click Here to visit the Elderlife Financial website. Selling Real Estate Residents that transition into a senior living community from their home may take advantage of the equity accrued over time from their home to pay for care. Selling a home can be time-consuming and the proceeds from selling the home might not be immediately available. To simplify and expedite this process, many residents and families benefit from working with a Real Estate Professional that is experienced in assisting with all aspects of selling a home. Click Here to visit the Elderlife Real Estate website. Bridge Loans When transitioning into a senior living community, it is common for families to struggle with the upfront costs and be unprepared for move-in fees, monthly rent, and costs associated with making this move. The Elderlife Bridge Loan is a financial bridge, allowing the family to pay for care now while waiting on permanent funding. The borrowed funds can be paid back in just a few months or a little over a year, whenever the family funds that were previously tied up become available. When approved for a bridge loan, funds can be disbursed within 24 hours. Click Here to visit the Elderlife Bridge Loan website. Come Celebrate With Us! 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