One of the biggest questions families have when considering assisted living is, “How do we pay for it?” The good news is: there are more options than many people realize. Whether you’re planning ahead or responding to an immediate need, there are a variety of financial tools, benefits, and assistance programs that can help cover the cost of care.

At Maple Cottage Assisted Living Transitions in Portland, TN, we work closely with families across Sumner County—including Gallatin, White House, and Westmoreland—to explore personalized payment strategies that fit their budget and needs.

What’s Included in the Cost of Assisted Living?

Before exploring payment options, it’s important to understand what you’re paying for. A typical monthly rate at Maple Cottage includes:

  • Private accommodations
  • Three daily home-cooked meals
  • 24/7 caregiver support
  • Medication management
  • Housekeeping and laundry
  • Daily activities and social programming

Rather than juggling multiple bills for home care, groceries, and household maintenance, assisted living often consolidates costs into one predictable monthly rate.

Common Ways to Pay for Assisted Living

Here are the most widely used financial resources for covering the cost of assisted living in Tennessee:

1. Private Pay

Many families use a combination of retirement savings, Social Security income, pension payments, or the proceeds from selling a home to cover assisted living costs. This is the most straightforward approach and gives families maximum flexibility.

2. Long-Term Care Insurance

If your loved one has a long-term care insurance policy, it may cover some or all of their assisted living expenses—depending on the policy terms. We recommend reviewing the policy with a professional or asking us to help you understand what’s included.

3. VA Aid and Attendance Benefit

Veterans and surviving spouses may qualify for a monthly benefit through the VA Aid and Attendance program. This can provide significant assistance toward the cost of care. Eligibility is based on income, assets, and medical need.

  • Must have served at least 90 days of active duty (with one during wartime)
  • Medical documentation of need for assistance with daily living
  • Can be used toward any approved assisted living community

4. Life Insurance Conversions

Certain life insurance policies can be converted into long-term care benefit plans or sold for their current value (life settlements). This approach can help free up funds for care while preserving a portion of the benefit.

5. Home Sale or Reverse Mortgage

If the senior owns a home they’re no longer living in, proceeds from the sale can be used to fund care. In some cases, a reverse mortgage can also be used if a spouse is remaining in the home.

6. Medicaid Programs (with Limitations)

In Tennessee, Medicaid does not currently cover traditional assisted living in the same way it covers nursing home care. However, some Medicaid waiver programs may provide limited financial assistance for eligible seniors with very low income and assets. These programs are often reserved for individuals with high medical need.

Planning Ahead Pays Off

Families who plan in advance often have more options and fewer surprises. If you’re even beginning to consider assisted living for a loved one in the next year or two, it’s a good idea to:

  • Review finances and long-term care insurance early
  • Talk to an elder care attorney or financial planner
  • Tour communities and ask for pricing transparency
  • Learn what benefits your loved one may already qualify for

We’re Here to Help

At Maple Cottage, we understand that the financial side of care can feel overwhelming. Our team is happy to walk through payment options with you, offer referrals to local VA benefit consultants, or help connect you with trusted financial planning resources in Portland and surrounding communities.

Assisted living is an investment in safety, wellness, and peace of mind—and we’re here to help you make that investment wisely.