The Journey to Senior Living
February 18, 2026
10 Tips for Having a Conversation With Your Patient About Financing Senior Living
Some healthcare professionals may be reluctant to refer their patients to senior living communities because of their concern about sending them somewhere they can’t afford. But because they often play an important role as influencers in the lives of their older patients, they should be prepared to discuss this topic with honesty and authenticity, while also “staying in their lane.”
For the purposes of this blog post, let’s assume that the patient is on board with the idea of relocating to a senior living community and that the primary concern is how to pay for it. This blog post is designed to equip you with insights to give you confidence to introduce such conversations.
10 Tips to Help You, the HCP, Talk With Your Patient
Conversations about senior living can be wide-ranging, covering everything from the appropriate level of care (independent living, assisted living, Alzheimer’s and dementia care, skilled nursing, in-home care) to determining the right time for senior living and finding the right community.
Then, of course, there is figuring out financing. This can include assessing the average cost of senior living, exploring helpful financial resources, understanding Medicare coverage and, if applicable, accessing veterans benefits.
Here are 10 tips designed to help you in discussing options and approaches with your patient.
1. Be proactive. Timing is everything. If at all possible, don’t wait until a crisis forces the patient and their family into making a hasty and stressful decision. The “40-70 rule” is one useful guideline, suggesting that adult children and their parents discuss topics such as healthcare, living arrangements and finances when the child is about 40 years old and the parent is about 70. This approach — which is a general guideline rather than a hard-and-fast rule — can help reduce tension and allow for calmer conversations. As a trusted influencer, you are likely in a position to gently nudge patients and their families toward initiating these potentially sensitive conversations.
2. Focus on the patient. The patient might not be in a position to make all the decisions, but their input is invaluable. What are their wants and needs? What are their personal health and retirement goals, and how might a senior living community help them achieve these goals?
3. Start planning as soon as possible. The patient and their family might need help determining the right level of care, the right senior living community and the right time to make the move. Weigh the benefits and drawbacks of all relevant options. Depending on the patient’s current mental and physical prognosis, the answer might be:
- Independent living, or retirement living with ample opportunities for social engagement through daily programs, clubs, outings and classes
Assisted living, which offers assistance with daily activities, medication management, engaging activities and coordination with outside healthcare providers - Alzheimer’s and dementia care, which is compassionate, person-centered care for individuals living with various stages of Alzheimer’s disease and other forms of dementia
- Skilled nursing, or recuperative senior living stays, with services, amenities and a dedicated team of therapists and nurses
- At-home care, designed to help individuals remain independent longer by providing services such as errands, companionship or light housekeeping, whether at home or in a senior living community
- A continuing care retirement community offering multiple levels of care within the same campus, which can possibly eliminate the need for the patient to move to a new community if they must transition to another level of care
4. Involve other experts, if possible. Referring patients and their families to other experts, such as financial advisers, estate planners and elder law attorneys, can provide valuable perspectives, helping make the decision easier.
5. Be honest, authentic and empathetic. Transparency about cost and other topics is important as you seek to build trust regarding a topic that you and the patient might not have previously discussed. Don’t underestimate the emotions and stress that might be at play in making such a life-changing decision. During these conversations, speak in clear, simple language that’s free of both medical and financial jargon.
6. Encourage the family to do the math. Instruct the family to compare what they’re already paying with what they would pay in a senior living community, and the services they receive in both scenarios. Might they benefit from an all-inclusive (or mostly inclusive) arrangement in which all their bills are combined? Common expenses include mortgage or rent, taxes, insurance, utilities, lawn care and other services, repairs and maintenance, groceries and meals, transportation, entertainment and a health club membership. All or most of these expenses might be included in a senior living community.
7. Inform the family of the payment options. Let your patient and their family know that there are several payment options when considering senior living, and refer them to a financial professional if possible. Potential options for the patient and their family include:
- Paying out of pocket. If the individual or their family has sufficient cash on hand or a steady income stream, this may be the obvious choice.
- Selling their home. If a property is no longer useful to the individual, converting it to cash might make sense.
- A reverse mortgage or bridge loan. A bridge loan is a short-term loan that can help cover the costs of senior living until a home is sold or other benefits become available. A reverse mortgage may allow the individual to maintain ownership of their home while generating tax-free income that doesn’t affect Medicare or Social Security benefits.
- Long-term care insurance. This option may help cover a range of residential care situations, including assisted living, a nursing home or skilled nursing facility, a residential care home, Alzheimer’s and dementia care, a continuing care retirement community, or veterans care. Typically, this insurance is purchased by people in their mid-50s and 60s seeking to plan ahead.
- Converting a life insurance policy. The individual might be able to convert an existing universal, whole, term or group life insurance policy to a prefunded account to help pay for long-term care.
- Veterans benefits. Veterans Aid and Attendance or Housebound benefits, offered through the U.S. Department of Veterans Affairs, can provide monthly payments on top of a monthly VA pension for qualified veterans and survivors. These can help offset part of the costs of assisted living or skilled nursing for those requiring outside assistance performing daily activities or those who stay in bed most of the day because of illness.
- Medicare. Medicare does not cover the cost of a senior living community, but it might pay for inpatient hospital stays, care in a skilled nursing facility, hospice care and some home health care.
- Medicaid. Medicaid covers skilled nursing for many patients with limited financial resources. Depending on the state, it may also pay for assisted living and nursing home care. Individuals older than age 65 in some states benefit from dual eligibility, meaning they qualify for both Medicare and Medicaid benefits through the Program of All-Inclusive Care for the Elderly (PACE). PACE covers not only home care but also nursing home care, assisted living, Alzheimer’s and dementia care, rehabilitation centers and PACE centers.
An individual may be able to pay for their senior living costs through a combination of two or more of the above options.
8. Explore other options for managing costs. Potential cost management measures include a companion suite, sharing the costs of an apartment with a roommate; a move to a nearby community with lower costs; or customized services, paying for only what the patient needs at this time, with the option of expanding services as needed in the future.
9. Don’t neglect your own professional concerns and how you fit into the picture. You care about your patients’ health and well-being. You want to feel confident in the quality of care your patient will receive, as well as the quality and frequency of communication and coordination between the community and you. You also might be interested in services such as resident care tracking through an electronic medical record (EMR) and complimentary transportation for your patient to and from appointments, a benefit that many senior living communities offer. Throughout your discussions, remember to “stay in your lane”: Your role is not to provide specific financial advice but rather to open your patient’s eyes to resources they might not have considered.
10. Put everything in the record. Document your conversations about strategies and resources so other members of the patient’s care team, including family, can access the information.
How Brookdale Can Help You and Your Patient
We understand that you’re busy and may not always have time for in-depth conversations about the details of financing senior living with your patients and their families. Brookdale can help your patients and their families navigate the intricacies of preparing for senior living. For example:
- We offer a variety of care options that can be customized to the unique needs of your individual patient. For each patient, we conduct a care assessment in collaboration with their primary care physician to help determine specific care needs.
- Our educational resources help patients and their families understand the choices available to them and shape a plan that help suit their needs, preferences, timeline and budget.
- Our relationships with companies who are experts in financial strategies can help potential residents acquire bridge loans or explore other financial options.
- We support patient-provider relationships and collaborate with healthcare professionals to help meet the needs of their older adult patients.
- We track resident care using an EMR to help facilitate communication between the patient and provider.
- We keep healthcare providers updated on their patients’ care. We also partner with auxiliary service providers such as outpatient therapy, home health, hospice and in-home services.
Learn More
Reach out to find out more about how Brookdale can help you help your patients find — and finance — the right senior living community for them.