3 Ways to Reduce Assisted Living Costs

Assisted living costs can get very expensive with the rising costs of medical care. If you have to pay for this type of care for a loved one, there are some ways that you can reduce the costs. Here are a few suggestions to keep in mind.

1. Senior Assisted Living Group Home Subsidy

Some senior citizens may be eligible for the Senior Assisted Living Group Home subsidy. The subsidy is a state program that is designed for people with low incomes and a dire need for assistance. If you qualify for this subsidy, it will provide you with some money for assisted living.

2. Tax Deductions

Even though you may not be able to reduce the upfront costs with tax deductions, you can take advantage of savings when you file your taxes. If you have to pay for assisted living out of your own pocket, you may be able to deduct part of the costs from your taxable income.

3. Medicaid

Medicaid is another government program that can provide you with money for assisted living. While most of these benefits are for people who are in nursing homes, you can get a waiver that will pay for in home care. 

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