Assisted Living Financial Assistance
You’re a life saver! Thank you for providing us with the necessary veterans benefit program information. I know we couldn’t have managed the cost without it.
At Chelsea assisted living communities we understand that seniors may be facing financial challenges. We are wholly committed to offering alternative programs which may assist those in need.
Life Settlement – Life Care Funding Group helps seniors raise funds to pay for their senior housing and long-term care through the Life Settlement market. A Life Settlement is the sale of an in-force life insurance policy for an amount much greater than the cash surrender value from the insurance company. Liquidating a life insurance policy is a great way to help finance future senior living opportunities.
- No up-front fees
- Anyone over 65 that owns life insurance or may have allowed a policy to expire within the last 12 months is eligible for a Life Settlement
- Takes approximately 30-60 days
- The policy owner will receive a lump sum payment once the policy is settled
- Minimum face value (death benefits) for a policy is $50,000
- The policy owner is no longer responsible for premiums once the policy is settled
Veterans Aid & Attendance Benefit Program - The Aid & Attendance benefit is a federal benefit provided through the Department of Veterans Affairs. Eligible veterans, surviving spouses of veterans, and/or couples can receive up to $1,800 per month. Visit the Veterans Aid and Attendance Benefit Web site for more information.
Shared Apartments - When considering moving into an assisted living residence, seniors and their families may have concerns about finances. Some may also have concerns about living alone. Shared apartments offer an ideal solution.
Assisted Living Program (New York State ALP) - The ALP (Assisted Living Program) is operated for the purpose of providing care, room, board, housekeeping, personal care, supervision, and home health care services. An ALP is jointly approved to operate by the Department of Social Services and the Department of Health. All ALPs are additionally licensed by the New York State Department of Health as an enriched housing program or adult home. All ALPs are also are licensed as LHCSA (Licensed Home Care Services Agency) to provide home care services and must be contracted with a CHHA (Certified Home Care Agency) to provide nursing care services. The New York State Department of Health has awarded assisted living program (ALP) beds in Castle Senior Living at Forest Hills, NY and Maple Pointe Assisted Living in Rockville Centre, NY.