Families beginning their search for assisted living are often curious about the monthly costs and up-front financial requirements. Assisted living and long-term care costs in NJ can run anywhere from $100 to $500 per day, raising concerns about affordability.
As a non-profit organization, UMC is dedicated to bringing affordable senior care to as many people as possible, at costs that cover our operating expenses only. Here are just some of ways we strive to offer value to the many families who choose to live with us.
Mission Based Care
United Methodist Communities is a non-profit, faith based senior services organization that has been providing New Jersey seniors a lifestyle that fosters independence and wellness for over 100 years. We reinvest year after year to keep our community well maintained, technologically up-to-date, and to give our associates the very latest ongoing training.
The Shores, as well as all our senior communities, offers a continuum of care, meaning that all levels of senior living are available under one roof. Instead of placing residents into one-size-fits-all care models that may include many unnecessary costs and services, our model offers you what you need, and only what you need, when you need it.
Your costs increase only if and when your needs increase. In this way, United Methodist Communities maintains a value oriented approach to the cost of senior living that is often more affordable and more efficient with your resources than many other assisted living providers.
Understanding the Range of Assisted Living Costs in New Jersey
On average, the cost of residency at United Methodist Communities at The Shores starts almost 20% below the state median. This is one of many factors that contributes to making United Methodist Communities at The Shores an affordable, high quality option for New Jersey seniors.
How Do I Pay For Assisted Living?
There are many ways in which you can pay for assisted living at our community.
Paying Out of Pocket
Typically, individuals pay some or all of the cost of assisted living out of their pocket. This may come from retirement accounts, investments, savings accounts, or other sources of income. Paying out of pocket can be an option for those who have a significant retirement account or financial support otherwise. The value of these assets may mean that a resident would not have to sell their home.
Selling a Home
In some situations, seniors moving into an assisted living community will no longer be able to live at home. Downsizing can provide an opportunity to use the funds from the sale of your home to cover the cost of assisted living.
If considering a reverse mortgage please keep in mind that you will obtain a mortgage that pays you each month or in a lump sum. The funds continue to come to you month to month (in most cases) to use as you would like. At the time you move out the lender presents your family with an opportunity to purchase the home or it is sold. Keep in mind that this happens as soon as the last homeowner leaves the home – including moving into assisted living.
In some situations, the Veterans Aide and Attendance Pension can be a source of help for paying for assisted living. Individuals who qualify will need to have under a set amount in assets and other qualifiers. This program can pay out a significant sum per month to help cover these costs for a veteran and their spouse. Veterans programs – both state and federal level may also be helpful.
Medicaid is reserved for existing residents who spend down their assets and can provide a financial tool for seniors to pay for assisted living if they meet other income and asset value requirements.
Medicare does not cover assisted living services. If you have an extended advantage plan, consult that plan specifically to learn the type and amount of coverage available to you.
Best Thing to do is come Visit!
For more information, please contact one of our sales associates today.