Paying for Assisted Living in Findlay: Financial Assistance and Options

The average assisted living costs in Ohio are around $4,300 per month, according to the Ohio Department of Aging. That number hits hard, especially if you're trying to budget for a loved one's care while juggling your own financial responsibilities. Findlay, often called "Flag City USA," offers a balance of small-town comfort and access to trusted assisted living communities right in the heart of Northwest Ohio.

Paying for assisted living can feel like a weight with no easy solution, but there are smart ways to bring those numbers down. From veterans' benefits to long-term care insurance and state programs, there are more options than many families realize.

If you're unsure where to begin, this guide breaks it down clearly so you can start planning your long-term care options with confidence.

Use Long-Term Care Insurance

Long-term care insurance helps cover personal care services for older adults who need daily support. It typically kicks in when someone needs help with at least two activities of daily living (ADLs), like bathing or dressing. While policies can vary widely, they often pay a set daily or monthly amount toward care in a licensed assisted living community.

So, it's important to review your policy early. Look for details like:

Waiting periods
Payout caps
The definition of qualifying care

Tap Into Veterans Benefits

For veterans and their spouses, VA benefits can reduce monthly senior care expenses by hundreds (or even thousands) of dollars. The Aid and Attendance pension benefit is one of the most commonly used programs. It helps cover the cost of help with daily tasks, like dressing or meal preparation, in a licensed assisted living community.

Applicants must meet service, income, and health criteria. But if eligible, the financial support can be significant.

Taylor Place Assisted Living in Findlay works with Patriot Angels to help veterans apply and qualify. Residents are eligible for a one-time $1,000 credit and receive half off their first month's rent each year through the Special Veterans Program.

Some reasons veterans and families should explore these benefits:

Monthly Aid and Attendance payouts are tax-free
Surviving spouses may qualify, too
You can use the benefit to help pay for assisted living
Local help is available to walk you through the process

Leverage Life Insurance Policies

Life insurance isn't just for final expenses. Some policies allow early access to benefits through something called a life settlement or accelerated death benefit. In some cases, you can sell the policy for a lump sum or take out cash advances if the insured meets certain health conditions.

This strategy can be a bit complex, so it's usually best to talk with a financial advisor first. Still, for those who have held a policy for years and no longer need the original death benefit, the payout can help cover senior care expenses right away.

Key ways families might use life insurance to pay for assisted living:

Sell the policy for a cash settlement
Withdraw from the death benefit early under certain conditions
Use the payout to fund a few years of care expenses

Use Home Equity Wisely

Many older adults in Findlay own their homes outright. That, in some respects, can be a major asset when paying for assisted living. Selling the home is one option, and depending on the market, the proceeds can fund several years of care.

Reverse mortgages might be another option, though they come with more risks and fewer guarantees. For some families, using home equity can improve retirement living affordability when other funding options fall short. If you're leaning in that direction, it's best to go over the details with a housing counselor who understands the fine print.

Consider Assistance from Ohio's Assisted Living Waiver Program

Ohio offers a state-supported Assisted Living Waiver Program for eligible adults. It helps pay for care services in licensed assisted living communities, so families can focus less on bills and more on choosing the right setting.

While the waiver doesn't cover room and board, it can cover services like:

Bathing assistance
Medication help
Wellness support

Look Into Bridge Loans or Short-Term Financing

Sometimes, you just need a little time. Maybe the house hasn't sold yet, or you're waiting for VA benefits to come through. That's where bridge loans or short-term financing options can help.

These loans are meant to temporarily cover the cost of assisted living until longer-term funds become available. They're typically faster to apply for and don't require years-long commitments. Still, interest rates vary, and the loan is usually backed by expected income or asset sales.

Families in Hancock County and surrounding areas often use these when moving a loved one quickly into care. For example, Taylor Place Assisted Living helps new residents coordinate move-ins while other funding is still processing.

Plan Ahead and Create a Senior Care Budget

You don't need to wait for a health emergency to think about assisted living. In fact, families that plan early tend to make better decisions and feel less financial stress. That's where financial planning for aging really starts to matter.

Start by building a monthly care budget. List what you expect to pay for:

Housing
Meals
Personal care
Medications
Recreational activities

Compare those to the all-inclusive pricing at communities like Taylor Place Assisted Living, where rent covers wellness programs, housekeeping, meals, and more. That makes it easier to track expenses and stick to a number.

Steps to create a realistic senior care budget:

List current income sources like Social Security or pensions
Estimate monthly assisted living rent and care fees
Include extras like medications or insurance premiums
Compare services included at each community
Revisit the budget annually or after major life changes

Your Next Step Toward Paying for Assisted Living

Paying for assisted living doesn't have to be overwhelming. With a mix of private strategies and public support, many families are finding ways to manage senior care expenses more effectively.

At Taylor Place Assisted Living, we stand out with thoughtfully designed apartments, daily chef-prepared meals, and a lively calendar filled with wellness and social activities, all in a welcoming community that includes pet-friendly living and 24/7 care support. We're proud to offer special benefits for veterans and personalized care plans tailored to individual needs.

Schedule a tour today and see how we can help make quality assisted living more accessible for your family.