How To Afford Elder Care When Your Parent Lives on Social Security
Americans are living longer, and with this longevity comes a greater need for elder care. If you have a parent who is living on Social Security and Medicare benefits, it’s important to know how to pay for elder care.
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Here’s what you need to know.
Elder Care Options
There are many different types of elder care, but they fall into three main categories: home care, assisted living and skilled nursing care.
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Home Care
Home care, as the name suggests, is care that is provided at home, or while the elder is still living in their own home. This is the type of care that is best for people who can still live independently (sometimes with a spouse or other family member) but may need assistance with things like bathing, dressing, and taking medications. Most elders start with home care and like to continue using it for as long as they possibly can before going in to a facility.
Assisted Living
Once a senior can no longer live in their own home but still has some independence, they may choose to go to an assisted living facility. An assisted living facility typically provides an apartment-type setting with help for things like dressing, bathing, transitioning from the bed to the chair, etc. Medications are usually monitored in a assisted living facility, and some have a special dementia care unit for those with memory issues.
Skilled Nursing Care
When a senior needs more care than assisted living can provide, the next step is usually a skilled nursing facility, commonly called a nursing home. In this type of facility, the senior will live in a single or double room that looks more like a hospital room. Skilled nursing staff and aides provide assistance with all activities of daily living, plus the appropriate medical care.
As the care required increases, so do the costs — and Social Security, combined with Medicare, is rarely enough to cover these specialized services.
Optional State Supplements
Seniors with limited income and assets may qualify under the Supplemental Security Income program for a benefit called the Optional State Supplement, or State Supplementary Payments.
This is a state-run program — and so, details differ by state — that provides cash payments to elders or their care providers to supplement the amount they get from Social Security. Forty-six states and the District of Columbia currently participate.
These programs are based on the elder’s income and assets, as well as where the care is received. The benefit is smaller for care received at home than it is for care in an assisted living facility. Seniors who live independently and don’t receive home care can qualify for a small benefit as well.
Medicaid
Seniors who are living on Social Security benefits and have minimal assets — and who need more care than they can pay for with their Social Security benefit plus the state supplement — may be eligible for Medicaid. Medicaid may cover some costs associated with assisted living and covers skilled nursing care. These benefits may vary by state.
Finding the resources for elder care can be challenging, especially if your parent is living on Social Security benefits. But if you understand the available options and how they work, you can help your parent be comfortable and well cared-for in their golden years.
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