Financial Planning

Understanding your options is key. We offer guidance and resources to help you make informed decisions about your care and coverage.

Two seniors and a man discussing documents at a table.

Financial Planning for Senior Care

Helping You Navigate the Process with Confidence

Planning for senior care or senior living can feel intimidating – especially when it comes to finances. Charlestown Place at New Albany can help guide you through your options so you can make an informed decision. Our team will work closely with you to understand your financial situation and coordinate the resources available to you.

Insurance & Payment Options

We accept a wide range of insurance plans, Medicare, Medicaid, and other funding sources to ensure our care remains accessible to those who need it. Please contact us to confirm that we accept your insurance.

Understanding the Cost of Assisted Living

Our community offers an all-inclusive approach to assisted living. This means that your monthly rate covers everything from meals and utilities to housekeeping, activities, transportation, and personal care – providing predictability and peace of mind.

When comparing the cost of moving to Charlestown Place at New Albany with staying at home, it’s important to consider the hidden and ongoing costs of homeownership, maintenance, groceries, utilities, and in-home support. Many families are pleasantly surprised to find that senior living is not only manageable but often more affordable than anticipated.

Cost Calculator

Financial Options

Medicare

Medicare can cover skilled nursing care following a qualifying hospital stay of at least three days. Coverage typically includes room and board, therapy services, medications, and other medically necessary care for a limited time. Our team can help determine your eligibility and explain your benefits.

Medicaid

For those who qualify, Medicaid may help cover the cost of long-term care, including room, board, and essential services. We offer free Medicaid planning in-house and can assist you in determining eligibility and help with the application process if needed.

Long-Term Care Insurance

If you have a long-term care insurance policy, it may help cover the some or all of the cost of assisted living, memory care, skilled nursing, rehabilitation, or personal care services. We will work directly with your insurance provider to coordinate benefits and billing.

Veterans Aid & Attendance

Eligible veterans and surviving spouses may qualify for additional monthly benefits through the VA’s Aid and Attendance program. This benefit can be used to offset the cost of skilled nursing care, assisted living, or memory care. Our team is happy to assist you with navigating the application process.

Private Pay

Most residents pay for senior living privately, using a combination of income, savings, investments, or proceeds from the sale of a home. This option offers the most flexibility, allowing residents to choose the level of care and lifestyle that best meets their needs. Our team can help you review your monthly costs and determine how private funds may be used efficiently to support long-term needs.