Many Michigan families are facing the challenge of affording assisted living for themselves or loved ones. The good news is there are various financial options available to help manage your costs.
Understanding Your Options:
- Private Savings: This includes savings, Social Security benefits, pensions, investments, and retirement accounts (401(k), IRA).
- Selling a Home: Equity from selling your home can be a significant resource for assisted living.
- Long-Term Care Insurance: This insurance helps pay for assisted living costs. You should consider plans before age 55 for better premiums.
Looking for More Information?
If you're looking for more information on assisted living costs and financial options in Michigan, here are some helpful resources:
- Michigan Medicaid: https://www.michigan.gov/mdhhs/assistance-programs/medicaid
- National Association of Area Agencies on Aging (NAAAA): https://www.usaging.org/
Have More Questions? Contact Hillside Terrace Today to Get Started!
We understand the challenges of assisted living costs. Our team can guide you through financial options and explore solutions to create a personalized plan for your loved one. Contact us today! (734) 761-4451
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