Family Resources - Maristone of Providence Assisted Living & Memory Care

Family Resources

Maristone of Providence Questions & Answers

When you have questions and worries about senior family members living alone or getting the care they need, these quick answers might help.

What residence options are available?

Assisted Living and Memory Care residence options at Maristone of Providence include private residential apartments in Assisted Living and private or companion suites in Memory Care designed to make your loved one feel right at home.


What services and amenities are available?

Residents have access to all the resort-style services and amenities they could ever want in a senior living community. For a specific list of community benefits, take a closer look at Maristone of Providence Services & Amenities.


When should I consider assisted living for my loved one?

It’s never too early to plan ahead. Look for signs. Your loved one may start losing/gaining weight and not eating properly. Are household chores, stairs or medications becoming difficult to manage? Does your loved one appear to be bored, lonely or less interested in longtime hobbies? Watch for changes in grooming habits and a general lack of enjoyment in life. All could be indications your loved one would benefit from day-to-day assistance and socialization.


When should I consider memory care for my loved one?

Most of us assume occasional memory problems are common for individuals over age 65. However, when parents or loved ones forget important appointments, repeat things constantly, or wander away from home, it’s not just a natural part of aging. Only a doctor can diagnose Alzheimer’s—the most common form of dementia, but if memory symptoms worsen and you have concerns about your loved one’s safety or security, it’s time to consider memory care.


What does the monthly fee cover?

The monthly fee includes the monthly rent for the apartment, three daily meals, weekly housekeeping and laundry service, participation in life enrichment activities, scheduled transportation, use of common areas, utilities such as water, electric heat, and air conditioning, and an emergency response system that is answered by staff 24 hours a day. The amount of the monthly fee is dependent on the size of the apartment or suite and whether the accommodations are semi-private or private.


How do most pay for assisted living?

There are a variety of ways to pay for assisted living and memory care. The key is to understand your options. Meeting with a “geriatric planner” or your own financial planner can help cut down the amount of time it takes to find out what your options are. Below are the most common ways people pay for assisted living.

Private Pay

Use of your personal income or savings to include personal investment portfolios, like 401k plans or IRAs.


Long Term Care Insurance

If you have a Long-Term Care insurance policy, it should cover assisted living as well. There are “facility-only” policies which covers care only in a licensed assisted living facility or skilled nursing facility. To qualify most companies will require that you need help in at least two areas of Activities of Daily Living such as bathing, eating, dressing, transferring from bed to chair, walking, and toileting. Long Term Care insurance benefits vary widely depending on the policy.


Life Insurance

When we think of Life Insurance benefits, we typically think that the funds are not available until the person’s death. But a life insurance policy can provide financial support now, if that's when the money would be most helpful. There are several different ways that policies can be used to pay for care while the person is still alive. Ask your Life Insurance Agent about cashing out the policy, accelerated, or living benefits.

There are also options called "life assurance" benefit or life insurance conversion program. This allows seniors to switch the benefit of a life insurance policy into long-term care payments.


Veterans Benefits

If your loved one (or your loved one's spouse) was a veteran, they may be eligible for benefits that can be used to pay for residential care in assisted living. The VA’s pension program provides monthly benefit payments to certain wartime Veterans with financial need, and their survivors. In addition to the VA pension, the VA Aid and Attendance program is an increased monthly pension amount paid to a Veteran or surviving spouse who need the help of another person regularly to assist in eating, bathing, dressing, undressing, taking medication, or toileting.

For more information on the VA Pension and Aid & Attendance program visit http://benefits.va.gov/pension/


Consider Selling or Renting the Family Home

If nobody is going to remain in the home, the home can be a valuable source of income. While selling the home is one option, many families aren’t ready to sell. In this case, consider renting out the house and using the rental income to pay for assisted living. There are property management companies you can hire to serve as landlord that charge a percentage of the rental income as their fee.


Bridge Loan

If you or your loved one do not have a lot of available cash on hand or financial assets that are easily liquidated, consider a bridge loan. A bridge loan can provide the necessary cash needed to move to assisted living while waiting for the sale of property or to be approved for a pension. These short term loans are becoming more popular and are usually available up to $50,000. Ask our Community Relations Director about our partnership with ElderLife Financial Services.


Annuity

If you have a sizable savings but are worried about outliving your resources, you may consider an annuity. When you purchase an annuity, you pay a lump sum to the underwriters and then you will receive regular payments over a specified time period (usually the rest of your life).


Reverse Mortgage

If you own your own home or only have a small mortgage, a reverse mortgage might be an option. A reverse mortgage allows you to borrow money on the equity you have built up in your home. The borrower, usually a spouse, can stay in the home until death at which time the loan needs to be repaid which usually means selling the home.


When is the best time to plan a move to Maristone of Providence?

When your loved one can take part in the decision—not after a health concern arises, putting everyone in crisis-management mode. With activities, outings, dining, and fitness programs to keep your loved one active, it’s easier to maintain health, self-reliance, and a positive outlook on life. With this community’s desirable location, services, and amenities, now is the best time to take a closer look at Maristone of Providence.


How do I convince my loved one it’s time to move?

Seniors frequently have concerns about giving up their independent lifestyle for a move to a retirement community. Explain the benefits of moving. Maristone offers a private residence in a beautiful building that feels safe and secure with a caring staff and on-site access to the assistance and programming they need every day. One look at Maristone of Providence, and it’s easy to convince loved ones it’s time to move.


If I have more questions, how can I get answers?

You can complete our contact form to request information. Or call us right away. We welcome your inquiries anytime. Call 615-758-1237 to speak to a representative.


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