Affordable Programs

RiverCourt Residences recognizes that during these difficult economic times, quality senior healthcare can seem out of reach for many of those in need of a supportive environment that assisted living can offer. For this reason, RiverCourt Residences has created several options that make the cost of senior living more affordable.

Memory Care Companion Suites

RiverCourt Residences offers potential residents the opportunity to lease apartments that offer a shared kitchen and bathroom along with separate and private living and sleeping areas. These apartments offer residents significant savings, while offering the same excellent care, meals, transportation, activities other and community amenities.

Veteran Affairs Aid and Attendance Benefits

This unique monetary benefit offered to war time veterans or their surviving spouses can significantly reduce the cost of assisted living. RiverCourt Residences offers applicants with the resources and guidance throughout the application process. While the benefit varies depending on the applicant’s assets, many residents are receiving between $1,200.00 and $1,900.00 monthly toward their assisted living costs.

Long Term Care Insurance

Long term care insurance policies cover costs of elder care services, such as Assisted Living and Alzheimer’s care. Given the high costs associated with long term care, many are planning ahead and purchasing long term care insurance. With the rising cost of health care, long term care insurance may be worth considering. This insurance may not be the right choice for those who qualify for Medicaid payment of long term care services. Contact your insurance provider or financial advisor to learn more about your options. You may also find the following websites helpful:

• www.aaltci.org
• www.medicare.gov

Tax Deductions

Many seniors living in Assisted Living communities are able to take advantage of tax deductions for some or all of their care. According to the 1996 Health Insurance Portability and Accountability Act (HIPPA),  “long term care services such as assisted living may qualify as an unreimbursed medical expense on Schedule A. Qualified long term care services have been defined as including the type of daily “personal care services” provided to Assisted Living residents, such as help with bathing, dressing, continence care, eating and transferring, as well as “maintenance services” such as meal preparation and household cleaning. We encourage you to consult your tax advisor. You may also visit www.irs.gov for more information.