28 Assisted Living Communities in Lakewood, Colorado

The average cost of assisted living in the city is $4,700 a month. This guide is a starting point covering the cost of assisted living care in the city, as well as financing options to pay for it. You’ll find in-depth information on 28 Assisted Living Communities in Lakewood and several in surrounding areas. The Cost of Senior Care in Lakewood, CO

• Assisted Living: $4,700
• Nursing Home Care: $8,365
• In-home Care: $1,625
• Adult Day Health Services: $4,767

The average monthly cost of assisted living care in the U.S. is $4,000, according to Genworth’s 2018 Cost of Care study, and the Colorado average is the same. At $4,700 per month, Lakewood’s assisted living cost is high in comparison. The only Colorado cities with more expensive rates are Colorado Springs ($4,875) and Boulder ($5,000).

Grand Junction has the state’s most affordable assisted living at a cost of just $3,350 per month. Seniors in Greeley ($3,670) and Pueblo ($4,000) also enjoy lower prices than their counterparts in Lakewood.

Note: Senior care cost data wasn’t available for Lakewood, so data for Denver was used.

Location isn’t the only factor that influences the cost of senior care. The type of care needed also affects monthly costs. Seniors pay an average of $4,700 per month for assisted living, which is about three times the cost of adult day health services ($1,625). Those who need nursing home care pay $8,365 per month, which is about 80% more than the cost of assisted living. Homemaker ($4,767) and home health aide services ($5,243) are priced similarly to assisted living. Seniors should remember that these prices only include the cost of in-home care itself. Regular household expenses, such as utilities and groceries, are still the senior’s responsibility. Assisted living residences usually include these costs in their monthly fees, so seniors may find they’re a more budget-friendly option.

 

Medicaid is a joint federal and state program that provides medical coverage to low-income Americans. More than 1.2 million people are enrolled in Colorado’s Medicaid program, Health First Colorado, including children, pregnant women, seniors and people with disabilities.

Eligible Coloradans receive many medically necessary services through Health First Colorado including:

• Primary care
• Hospital care
• Outpatient care
• Preventive services
• Emergency care
• Nursing home care

To be eligible for Health First Colorado coverage, state residents must meet the program requirements. One-person households must have an annual income of $16,612 or less. The limit for two-person households is $22,491. Countable assets are capped at $2,000 for individuals and $3,000 for couples. Many assets are exempt, including a primary residence, personal property, household belongings and one car.

Completing an online Colorado PEAK application is the fastest way to apply for coverage. You can also call (800) 221-3943 or apply in person at the Jefferson County Department of Human Services office.

Elderly, Blind and Disabled Waiver

Lakewood seniors who need help paying for assisted living care may qualify for the Elderly, Blind and Disabled waiver. This program provides a number of long-term care benefits, such as adult day health care, homemaker and personal care services. The waiver also covers services provided in alternative care facilities, including assisted living residences, but it doesn’t cover room-and-board costs.

To qualify, seniors must have a significant functional impairment and need a nursing home level of care. The program’s monthly income limit is $2,313, or three times the current Supplemental Security Income rate. Medicaid asset limits also apply.

Seniors can apply for the EBD waiver by contacting the Jefferson County DHS office at (303) 271-1388.

Optional State Supplementation

The federal Supplemental Security Income program provides monthly benefits to elderly people with low incomes and few assets. Across the country, more than eight million people collect SSI benefits. Colorado is one of the many states that provides top-up funding to SSI recipients who live in assisted living facilities.

Colorado’s Optional State Supplementation program provides up to $551 per month to single seniors and $1,489 to couples who qualify.

To learn more about the program or to apply, call the Colorado Department of Human Services at (303) 866-5700.

Colorado Old Age Pension

The state of Colorado provides financial assistance to low-income seniors through its Old Age Pension program. To receive this benefit, Colorado seniors must be U.S. citizens or qualified legal residents and earn less than $771 per month. Applicants are also limited to $2,000 in total resources ($3,000 for couples).

Lakewood seniors interested in the OAP program can apply by calling the Jefferson County DHS department at (303) 271-1388. Applicants are interviewed by an intake program specialist who then makes an eligibility determination.

Assisted Living Bridge Loans

Some Lakewood seniors may only need short-term help paying for assisted living. Seniors waiting for a pension to kick in or a home to sell may find themselves in this situation. An assisted living bridge loan can help seniors handle this gap in funding.

Bridge loans usually have a line of credit structure, which allows approved seniors to borrow only what they need. Monthly payments for housing and care can be sent directly to a senior’s assisted living facility. Applications can list up six borrowers to help a senior qualify, but applicants will need to explain their planned source of long-term funding.

To apply for a bridge loan, call Elderlife Financial at (888) 228-4500 or complete an online application. 

Lakewood offers many resources for veterans and survivors. Seniors can visit the regional VA office to check their eligibility for benefits and submit an application. They can travel to Aurora or Denver to access VA health care services, including counseling at the Vet Center.

Denver Regional Benefit Office 
155 Van Gordon St., Lakewood, CO 80228
(800) 827-1000

Jewell VA Clinic 
14400 E Jewell Ave., Aurora, CO 80012
(303) 283-5400

Denver Vet Center 
7465 E First Ave., Ste. B, Denver, CO 80230
(303) 326-0645

Senior Homes has an extensive directory of senior living options, with care and living providers across the United States.