Is Memory Care Covered or Paid For By Insurance

When your loved one is experiencing memory loss and/or the difficulties of Alzheimer’s disease or dementia, you may reach a point where you consider memory care. Memory care gives you and your loved one a specialized team of support as well as greater peace of mind. Often times, families don’t know where to start when it comes to insurance coverage – so we’re sharing different options to take into consideration.

 

Determine Insurance Coverage For Your Loved One With Memory Loss

For starters, it’s important to keep any existing health care or insurance plans active that may help meet your loved one’s needs. Different insurance policies – including Medicare, private insurance, a group employee plan, retiree health coverage, disability insurance, veterans benefits or long-term care insurance – may contribute toward paying for care.

1. Medicare: Medicare does not pay for long-term care – outside of 100 days skilled services or rehabilitative care for a qualified stay. Medicare Part A covers hospital stays, short stays in a nursing home for certain kinds of illnesses and hospice care in the last six months of life – all after a standard yearly deductible. Medicare Part B pays partial fees for doctor’s services, outpatient care and other medical services not covered by Part A, as well as some preventive services, while Medicare Part D covers some medication costs.
2. Medigap or MedSup: If you are relying on Medicare for assistance with dementia-related health bills, supplemental insurance can add additional coverage. Different plans and benefits vary widely – but some policies do help pay for Alzheimer’s and dementia health care and could be worth considering.
3. Medicaid: Memory care patients may qualify for medical care through Medicaid if they can demonstrate very low income and limited assets. Policies through Medicaid include coverage for long-term care for certain medical diagnoses.
4. Veterans Benefits: Veterans and their spouses may be able to qualify for monthly benefits to help with the costs of care using Veterans Aid and Attendance. The process can take several months so it’s important for eligible veterans to apply early through the Veterans Administration.
5. Employee or Retiree Health Plan: Depending on work history and eligibility, a group employee or retiree health plan may help pay for some expenses – particularly for those diagnosed with Alzheimer’s or other forms of dementia before turning 65.
6. Disability Insurance: A disability policy provides income for a worker who can’t work due to illness or injury; however, this type of plan would need to be in place before symptoms of memory loss begin.
7. Long-Term Care Insurance: In order to utilize long-term care insurance for memory care, a policy needs to be in place prior to diagnosis of dementia or Alzheimer’s. If you plan ahead, long-term care insurance can help pay for memory care – however, each policy will vary in how much it will pay per day and how many days or years it will pay out.

Memory care at Highpoint at Stonecrest helps families who are looking for a comfortable, compassionate and safe environment for their loved one… If you need assistance determining how to pay for memory care, we’re here to answer any questions you may have and serve as a resource.