Navigating Finances

A Guide to Affordable Assisted Living in North Carolina at Wilham Ridge

At Wilham Ridge, we understand that navigating the financial aspect of assisted living can be a significant concern for families. In this guide, we'll explore various financial options and resources available to help make the cost of assisted living more manageable for residents in the state of North Carolina.

Step 1: Researching Long-Term Care Insurance Long-term care insurance can be a valuable asset in covering the costs associated with assisted living. Encourage your loved one to review their existing policies or explore the possibility of obtaining long-term care insurance to provide financial assistance when needed. Our team at Wilham Ridge is available to assist in understanding policy coverage and requirements.

Step 2: Exploring Veterans Benefits For eligible veterans and their spouses, the U.S. Department of Veterans Affairs (VA) offers benefits that can contribute to the cost of assisted living. These benefits may include the Aid and Attendance program, providing additional financial support for those requiring assistance with activities of daily living. Our team can guide you through the application process and help determine eligibility.

Step 3: Medicaid Assistance Medicaid is a state and federally funded program that may cover the costs of assisted living for individuals with limited financial resources. In North Carolina, the Medicaid waiver program for assisted living provides financial support for eligible residents. Our team at Wilham Ridge can assist in navigating the Medicaid application process and ensuring compliance with state regulations.

Step 4: Social Security and Supplemental Security Income (SSI) Residents may continue to receive Social Security benefits and, if eligible, Supplemental Security Income (SSI) while residing in an assisted living facility. These funds can contribute to covering the cost of care. Our team at Wilham Ridge can provide guidance on how to coordinate these benefits with the overall financial plan.

Step 5: Exploring Private Pay Options For those who may not qualify for government assistance programs, private pay remains a viable option. Our team at Wilham Ridge can work with families to create a transparent and manageable payment plan. We are committed to providing quality care while respecting the financial considerations of our residents and their families.

Step 6: Seeking Financial Counseling and Assistance Wilham Ridge offers financial counseling services to help families navigate the complexities of funding assisted living. Whether exploring public assistance programs or developing a personalized payment plan, our financial counselors are here to provide guidance and support throughout the process.

Conclusion: At Wilham Ridge, we believe that financial considerations should not be a barrier to accessing quality care. By exploring the various financial options available, families can find a solution that aligns with their loved one's needs. Our team is dedicated to assisting residents and their families in navigating the financial aspect of assisted living, ensuring a smooth and worry-free transition into our community.