Key Takeaways
- Assisted living costs in Minnesota vary by location, apartment size and level of care.
- Social Security, pensions, savings and home sale proceeds can help cover monthly costs.
- Long-term care insurance and VA Aid and Attendance may provide additional financial support for eligible individuals.
- Medicare generally doesn’t cover assisted living room and board or most daily support services.
- Minnesota’s Elderly Waiver may help eligible Medical Assistance recipients pay for certain care services, but not room and board.
Ways to Cover the Cost of Care
You’ve toured a community, seen your mom smile at the dining room table, and started picturing what life there could look like. Then you review the pricing, and questions about affordability come up. Understanding the available funding options can help you plan for the cost of care.
Many Minnesota families pay for assisted living by combining several funding sources, including private income and savings, insurance, veterans’ benefits, and state programs like Minnesota’s waiver for older adults.
What Assisted Living Costs in Minnesota
Monthly prices range widely from one community to the next. Communities in and around the Twin Cities metro generally cost more than those in smaller towns and rural counties.
Most pricing has two parts. There’s base rent for the apartment itself, then care level add-ons based on how much daily support someone needs.
What the Monthly Price Usually Covers
Base pricing in senior living typically includes the items below.
- A private apartment with utilities
- Daily meals
- Housekeeping and laundry
- Daily programs and social activities
- Staff available around the clock
Private Pay Options for Families
Almost every family begins here. Social Security benefits, a pension, and monthly withdrawals from retirement accounts usually form the foundation. Start by adding up these income sources to estimate how much of the monthly cost they can cover. Savings or proceeds from selling a home may help cover any remaining expenses.
To estimate how long private funds may last, compare the total monthly cost with your regular income. The difference can help you understand how much you may need to draw from savings each month and how long those funds could last.
How Long Private Funds Can Last
Write it out month by month. Take the total monthly cost, subtract steady income, and see what the gap is. Exploring additional funding options early can give you more time to understand eligibility requirements and application timelines for state programs.
Insurance, Veterans Benefits, & Other Help
Long-Term Care Insurance
If your parent holds a policy, read it closely. Look at the benefit amount, then check the waiting period. This is the number of days care happens before payments begin. Check to see if assisted living is covered, since some older policies were written mainly for skilled care.
Try to contact the insurer early to understand the claims process and when benefits may begin.
VA Aid & Attendance
Wartime veterans and surviving spouses may qualify for extra monthly income through VA Aid and Attendance, which can go directly toward the cost of care. Accredited VA representatives help at no charge, and county veterans service officers in Minnesota are a good first call.
What Medicare Does & Doesn’t Cover
Medicare doesn’t pay for room and board or most of the everyday support that comes with assisted living. It may cover certain skilled nursing services when eligibility requirements are met. Understanding what Medicare covers can help you plan and explore other ways to pay for care.
Medical Assistance & Minnesota’s Waiver Program
The waiver helps pay for care services for people who qualify for Medical Assistance. It covers services, not room and board, so families typically still cover housing costs from income. If you’re still weighing options, it helps to know who qualifies for assisted living in the first place.
Eligibility depends on Medical Assistance requirements and an assessment of the person’s care needs. The assessment, called MnCHOICES, is arranged through your county or tribal human services agency.
Where to Get Free Guidance
Call Minnesota Aging Pathways, the state’s free phone line for older adults and families. Your county or tribal human services agency can also walk you through applications and timelines. The range of long-term care services is worth reviewing as you compare.
Taking the Next Step
Planning for assisted living takes time, but understanding your options can help you feel more prepared. By reviewing your income, exploring available benefits, and asking communities about their pricing, you can start building a plan that fits your family’s needs.
At Cedar Creek Senior Living, personalized care supports residents’ independence while helping them feel connected to their community. Our whole-person approach to wellbeing considers physical, social, and emotional needs. Through activities, shared experiences, and community amenities, residents have opportunities to explore their interests and build friendships.
Every family’s situation is different, and we’re here to help you explore your options. Schedule a tour and see what’s possible for your family.
