How do I pay for senior living?

Elderly couple enjoying a meal together at an independent living community

Independent living or senior living communities are designed to make life a little simpler for healthy, active older adults.

When considering the move to an independent living community, thoughts about the costs might come to mind. It’s important to break down those costs, understand the benefits, and learn ways to pay for it before deciding what is right for you.

Know what costs to anticipate

To start, consider your current costs and compare them to the costs of the independent living community. Ask questions about what is or is not included in the rent.

Here are a few questions to get started:

  • Are utilities, cable and home and yard maintenance covered?
  • Are meals, transportation, a fitness center, etc. included?
  • What floorplans are available and are different floorplans priced differently?
  • Are there any one-time costs like a move-in fee?
  • Are you offering any move-in specials or applicable discounts?

Understand the benefits

Although you will pay rent to live in an independent living community, you may decrease or totally eliminate expenses for other necessities like meals, housekeeping and transportation.

Additionally, independent living communities often offer the convenience of having friends and neighbors nearby for companionship and socializing. Recreational, educational, spiritual and wellness programming offer opportunities to connect with your community and stay active.

There are different ways to pay

Paying for independent living looks a lot like paying for an apartment or condo. Typically, it’s covered using personal funds and not insurance, Medicaid or Medicare.

Consider these options:

  • Do you have pensions, retirement accounts or investments?
  • Could you use Social Security payments or income from a part-time job?

Ultimately, it comes down to knowing what you’re looking for in a community and asking the right questions to feel confident about your decisions.

At the Good Samaritan Society, we offer residents a maintenance-free lifestyle without compromising their independence. When you’re ready, take a no-commitment tour of one of our independent living communities to learn more.

Find a location near you.

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