At some point in life, elderly adults need to move to a specialized facility as per their living requirements. Most of them are assisted living facilities that help older people in their daily activities, such as taking medicines, bathing, dressing, and cooking. It also calls for financial help for elderly care to cover the cost of assisted living expenses. Medicare is not known to provide financial assisted living, as it falls in custodial care. It does cover the cost of medical needs and expenses of the elderly. However, in specific circumstances, one can acquire Medicare benefits for assisted living. Read on to find out everything about it!
What Is Medicare?Medicare is a federal government healthcare insurance program available for the elderly that has turned 65. Those seniors who are over 65 and require assistance will be eligible to enroll in the Medicare program. This program offers financial assistance for elderly care. It provides coverage for inpatient hospital stays, nursing homes, and some home health care. It has its own policies and protocols for finances. You need to understand all these requirements to gain help.
Different parts of Medicare help in covering the cost for specific services:
Medicare Part A: Medicare part A coverage is also known as Hospital Insurance. It covers the cost of inpatient hospital stays, skilled nursing care, and hospice.
Medicare Part B: Medicare part B is also said as Medical insurance. It offers financial help for elderly care in outpatient care, medical supplies, and doctor’s services.
Medicare Part C: Medicare part C is also called Medicare Advantage Plans. It allows private companies to provide Medicare Part A and B cost coverage. These are the types of health care plans that most of the private companies in contract with Medicare offer. Now, many companies also include financial assisted living in this part.
Medicare Part D: Medicare part D is known as the Prescription drug plan and offers benefits for the cost coverage of prescript drugs.
Does Medicare Cover Assisted Living Cost?
If we look at it generally, Medicare does not provide financial assisted living. However, as mentioned above, some of the Medicare health plans offered by private companies include assisted living. You need to check the plans before enrolling in one. Also, Medicare now offers assisted living cost coverage in some specific circumstances.
Medicare Benefits For Assisted Living
Medicare programs may not be beneficial for long-term conditions. It is applicable mainly to conditions with short-term treatment. However, exceptions can occur in some situations. Nevertheless, Medicare health plans offer health care benefits that cannot be denied. Here are some of the benefits you get with Medicare:
Skilled Nursing Facility
Medicare part A covers the 100% cost of nursing homes for almost 20 days. Suppose you come across a situation that requires a skilled nursing facility or hospital stay for a short period. In that case, you can trust Medicare to cover its cost. Moreover, it can cover almost 80% of the cost of the hospital stay extends up to 80 more days after the initial 20 days.
Medicare insurance covers the in-house cost of a health care nursing home. Financial assistance for elderly care for nursing homes is available for a limited time. The care must be of medical nature and prescribed by the doctor. It can include the conditions in which the patient is home-bound and requires assistance in mobility. Moreover, non-medical concerns can be covered by Medicare Advantage Plans offered by private companies.
Adult Day Care
Some adults require the facilities of daycare. Traditional Medicare Health Plan may not cover its cost. However, Medicare Advantage Plans include financial help for elderly care in daycare centers. You just need to look out for the right plan to get the benefits.
Assisted Living Community
Medicare does not primarily cover the cost of assisted living. It can pay for the medical needs of the senior but does not pay for custodial care. However, many Medicare Advantage Plans do offer financial assisted living and pay for the personal assistance residing in assisted living communities.
Memory Care Options
Memory problems such as Dementia and Alzheimer’s disease are those conditions that may include medical care and personal care. Primarily, the memory care options are considered as personal care and may not be included in traditional Medicare plans. But any medical care cost is covered by the original Medicare. However, Medicare Advantage Plans do offer cost coverage of personal care assistance. Also, the hospice need in later stages of Alzheimer's is covered by Medicare.
Medicare offers the cost of hospice coverage for terminal illnesses, in which the doctor has determined 6 months to live. Medicare covers the cost of medical needs, prescription drugs, and other hospital services. In various cases, people can opt for in-house or inpatient care services.
Medicare benefits and financial assistance for elderly care have made life easier for elders and caregivers. You can look more into Medicare Health Plans and find the one that covers financial assisted living and financial help for elders.