How is assisted living paid for?
Presently, assisted living services in Alabama are not funded through any government program, except the Veteran’s Administration for veterans and widows of veterans. Traditional options include liquidating savings, investments, and retirement income. Insurance options might include long-term care insurance or life insurance settlements. There is also an option to finance through a home equity loan or reverse mortgage. A Cost Comparison Worksheet is available to help determine the feasibility of paying for Assisted Living.
