Navigating the costs of senior living in Southern California and understanding available financial assistance is crucial for families. This overview summarizes common funding avenues, but we always recommend consulting an elder law attorney or financial advisor for personalized guidance on your loved one’s specific situation.
Personal Financial Resources: Many families in Southern California utilize a combination of an older adult’s assets—such as real estate, bank accounts, brokerage investments, and vehicles—along with income sources like Social Security, pensions, annuities, and Long Term Care (LTC) insurance policies to cover assisted living costs in Southern California. We can provide helpful checklists and spreadsheets or connect you with expert financial planners who specialize in senior care financing in the Southern California region.
Medicare is a federal health insurance program for seniors, primarily covering acute healthcare. It does not cover long-term assisted living, memory care, or independent living costs in Southern California. However, Medicare may cover up to 100 days in a rehabilitation facility following a qualifying hospital stay.
Medi-Cal (California’s Medicaid program) provides low or no-cost healthcare for eligible low-income individuals. While it typically doesn’t cover assisted living, memory care communities, board & care homes, or independent living in Southern California, Medi-Cal will cover skilled nursing facility costs after the initial 100 days for qualified patients. For specific Medicare inquiries regarding senior care in Southern California, we can refer you to a knowledgeable elder law specialist.
Social Security: This federal program provides supplemental income based on lifetime earnings. While it offers a monthly payment, there are no specific assisted living benefits directly associated with Social Security.
VA Benefits: Southern California veterans should enroll in the VA to access a wide range of benefits, including disability compensation, pensions, and healthcare. Notably, many elderly veterans may qualify for valuable long-term care programs that provide assistance at home, within VA medical centers, or in the community. These benefits can even include home care services within Assisted Living and Memory Care communities in Southern California.
Long Term Care Insurance (LTC): This specialized insurance product is designed to help cover the substantial costs of long-term care solutions like Assisted Living in Southern California, Memory Care facilities, Home Care & Home Health services, and even private rooms in Skilled Nursing Facilities. While policies can be expensive and have specific conditions, an LTC policy can make a significant difference in managing the long-term expenses of chronic conditions or daily living support. We are happy to connect you with an LTC policy specialist in Southern California to explore your options.
For a more complete overview of the best way to care for your aging family member, please download our free Guide For Your Loved One’s Golden Years with all of this information and more, and if you would like more help in finding the right older adult benefits and financial resources, Southern California senior living communities, or anything else to help plan your senior living journey please contact us today.
"*" indicates required fields