With memory care averaging thousands per month, knowing how to pay matters. This page covers every funding source and how 1-800-MEDIGAP helps you use them.
What are the main ways to pay for memory care?
Most families combine several sources. Private funds come from savings, retirement income, pensions, and selling or renting a home. Long-term care insurance, if purchased earlier, can pay a large share. Life insurance policies can sometimes be converted to cash for care. For lower-income seniors, Medicaid Home and Community-Based Services (HCBS) waivers help in many states. Wartime veterans and surviving spouses may qualify for the VA Aid and Attendance pension. Bridge loans or reverse mortgages can cover gaps while a home sells. The right mix depends on your finances — call 1-800-MEDIGAP (1-800-633-4427) to build a plan.
How do veterans and Medicaid help pay?
Veterans: The VA Aid and Attendance pension adds monthly funds for wartime veterans and surviving spouses who need help with daily activities. You apply using VA Form 21-2680, and the benefit can be applied to memory care. Medicaid: Through HCBS waivers, many states pay for memory care services for residents who meet income, asset, and care-need limits — though covered settings and waitlists vary by state. Both programs have detailed eligibility rules, and applying correctly the first time saves months. 1-800-MEDIGAP helps you understand whether your family qualifies and how to start.