Resources
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Preparing for senior living can feel overwhelming. You often have little time to navigate uncharted territory to make one of the most important decisions for a loved one.
That’s why we’re here.
At Paramount, we’ve helped thousands of families over the last two decades understand their options so they can navigate the transition to senior living confidently.
Below are some trusted resources and information to help guide you through the financial and planning side of senior living.
Call our team today to learn more about your senior living options
* The resources provided herein are for informational purposes only. Paramount is not affiliated with and does not control the content of external wesbites. Eligibility and benefits may vary based on individual circumstances.
How Do Families Pay for Senior Living?
Understanding how to pay for senior living is an important part of planning for care. While most assisted living and personal care services are paid for privately, families often use a combination of financial resources to help cover cost. The information below can help you begin exploring common payment options and identify questions to discuss with our team.
Helpful Resources:
Medicare and Long-Term Care Explanation Medicare, Medicaid and Long-Term Care
How Do Families Pay for Senior Living?
Families typically pay for care through a combination of:
- Personal savings or retirement income
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Social Security or pension income
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Proceeds from the sale of a home
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Long-term care insurance (if applicable)
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Veterans benefits (when eligible)
Planning ahead and understanding available financial resources is a key part of the decision-making process. To learn more about your options, check out the links provided or give us a call.
Veterans Benefits (VA Aid & Attendance)
At Paramount, we are proud to help veterans and their families navigate the VA's Aid & Attendance program — a monthly, tax-free benefit that can significantly offset the cost of senior living for those who need assistance with daily activities. Our dedicated team is here to guide you through the process and ensure you receive every dollar of support you've earned through your service.
Helpful Resources:
VA Official Overview of Aid & Attendance
VA Long-Term Care Services Overview
How to Apply for VA Benefits
Understanding VA Benefits for Senior Living
As a veteran or a spouse, you may be eligible for financial assistance through programs offered by the U.S. Department of Veterans Affairs.
One of the most impactful programs is Aid & Attendance, a monthly, tax-free supplement income that can help cover the cost of assisted living, personal care, or in-home care.
This benefit is designed for veterans (or surviving spouses) who require help with daily activities such as bathing, dressing, or medication management.
While it may not cover the full cost of care, it can significantly reduce your costs and make senior living more accessible.
To learn more about VA Benefits, check out the links provided or give us a call.
Long-Term Care Insurance
Helpful Resources:
What is Long Term Care Insurance
Understanding Long Term Care Insurance
What is Long-Term Care Insurance?
Long-term care (LTC) insurance is a type of policy designed to help cover the cost of services that assist with daily living activities, like bathing, dressing, eating, or managing incontinence, whether at home or in a senior living community.
Depending on the policy, LTC insurance may help pay for:
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Assisted living or personal care services
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Memory care
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In-home care
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Skilled nursing care
Policies vary significantly in:
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Daily benefit amounts
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Length of coverage
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Elimination periods (waiting periods before benefits begin)
For families who have a policy in place, this can meaningfully offset care costs. To learn more about LTC policies, check out helpful resources for give us a call.
Explore Our Latest Articles
From senior living guidance and caregiving resources to resident stories, community events, and everyday moments across Paramount communities, our articles provide helpful information and a closer look at life at Paramount Senior Living.
Putting It All Together
A Personalized Approach to Planning
Every family’s situation is different. Some rely primarily on private funds, while others combine multiple resources like VA benefits or long-term care insurance policies.
We work with you to provide cost estimates and help create a clear plan for the future.
If you’d like help understanding how these options apply to your situation, we’re here to guide you through.