For those who need assisted living, but are not financially prepared, the question becomes "Does Medicare cover residential assisted living?"
First a little on Medicare: The federal goverment provides money to the states to cover the states Medicare. The states then create their own programs to take care of the needs of their residents.
Most states have a formula that requires a senior to prove they have no income and no assets. They must first liquidate and exhaust their assets and if they receive Social Security, they can keep a small portion for expenses and the rest would need to go their care and if you add it up, that funding is going to be well south of the $3,000 to $5,000 needed.
So while Medicare will cover some costs of Assisted Living, it will only cover a substandard amount.
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