private pay vs government assisted communities

The Difference Between Private Pay vs. Government Assisted Communities

There are a variety of ways to pay for the costs of senior living communities. The two main options are private forms of payment or various government assistance programs. But, which one is the right choice for you? Continue reading below for our guide to government assistance vs. private pay to learn more about each and make the right decision for you.

What Is Government Assistance?

There are many communities that accept federal and state government programs that provide financial assistance with certain health care costs. This can include some expenses associated with senior living, assisted living, and others. Right now, there are assistance programs from the U.S. Department of Veterans Affairs (VA), certain Medicaid programs, and many others that will help pay for costs associated with senior living communities.

What Is Private Pay?

“Private pay” refers to each resident’s ability to pay for the costs of living in a senior living community on their own. This is largely payment out-of-pocket. There are also a range of long-term health care insurance policies, offered by private companies, that cover some or all of the living costs in these senior living communities. Inspired Living is a private pay community. You can click here to learn how to budget for us.