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Finding the right fit for senior living, independent living, assisted living, or memory care can be challenging. The number one question asked on the internet regarding senior living is, “How much does senior living cost per month?” Since most seniors and their families will consider senior living, assisted living, or memory care at some point, it is important to understand what will financially impact what you pay for in a community. Here are a few items to help you understand the costs involved in senior living and help you think about what is important to you.

The Cost of Senior Living per Month

Medicare is health care that the United States Government supports. There are qualifications for Medicare and the different types and options of Medicare that you can receive depend on whether you meet those qualifications. Choosing the right Medicare plan is crucial because it can affect the type of living, care, and financial investment required as you age.

10 Things You Didn’t Know About Medicare

The cost of senior living, especially assisted living with care needs, is rising. There are many ways to afford the expense of assisted living for seniors. Often, more than one source of income is used to cover the costs of senior living (whether it be independent or assisted) and other senior care costs like respite, memory care, rehab, and hospice. Here are the standard ways seniors and their families afford living and care.

LICENSING BY STATE

Assisted Living and other types of the assisted living require licensing specific to the state. Always check the licensing for a community to ensure its current and up-to-date.

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The Cost of Senior Living per Month

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