Funding

Funding for assisted living residents typically comes from a combination of private payments, insurance, and government programs. The exact mix depends on the resident's financial situation and health needs. Common Sources of Payment are as follows :

1. Private Pay (Most Common)

Private Pay
Many residents pay assisted living costs out of pocket using: Savings and investments, Retirement income (Social Security, pensions, annuities), Proceeds from selling a home, Family contributions. Our Assisted living community charges: A monthly base fee for housing and basic services, Additional fees based on the level of care needed

2. Long-Term Care Insurance

Long-Term Care Insurance
Some residents have policies that help cover: Personal care assistance, Help with activities of daily living (bathing, dressing, eating), Certain assisted living expenses, Coverage varies significantly by policy.

3. Medicaid

Medicaid
For lower-income individuals, Medicaid may help pay for certain assisted living services in many U.S. states, including Utah. Medicaid does not pay for room and board in the same way it pays for nursing home care. Utah offers Medicaid waiver programs (New Choice's Waiver) that help cover personal care and support services in assisted living settings. Eligibility is based on income, assets, and care needs. Because rules differ by state, residents need to apply through their state's Medicaid program.

4. Veterans Benefits

VA
Eligible veterans and surviving spouses may receive assistance through programs administered by the U.S. Department of Veterans Affairs. Programs may help offset assisted living or long-term care costs for qualifying individuals.

5. Medicare

Medicare
A common misconception is that Medicare pays for assisted living. Centers for Medicare & Medicaid Services Medicare: Does not cover ongoing assisted living room, board, or custodial care. May cover medical services received while living in an assisted living community, such as physician visits, hospital care, rehabilitation, or home health services when eligibility requirements are met.

6. Life Insurance Conversions and Other Financial Tools

Other
Some residents use: Life insurance policy conversions or settlements. Reverse mortgages (if still living in their home and eligible). Trusts or estate planning vehicles

How Assisted Living Facilities Receive Funds

From the facility's perspective, payment may come directly from:
The resident
A family member or responsible party
An insurance company
Medicaid (for covered services)
Veterans benefit programs
The facility then applies those payments toward housing, meals, staffing, personal care, activities, and operational costs.