Assisted Living Community in Hancock County, Indiana

The average cost of assisted living in the county is $5,053 a month. This guide is a starting point covering the cost of assisted living care in the county, as well as financing options to pay for it. You’ll find in-depth information on Assisted Living Community in Hancock County and several in surrounding areas. The Cost of Senior Care in Hancock County, IN

• Assisted Living: $5,053
• Nursing Home Care: $6,910
• In-home Care: $3,813
• Adult Day Health Services: $1,733

Data from Genworth’s 2018 Cost of Care study shows that Hancock County seniors pay the second highest assisted living rates in Indiana, second only to the city of Lafayette ($5,205). Costs in the county are more than $600 above the state average ($4,385) and over $1,000 more than the national average of $4,000. While some communities are almost as costly, including Muncie ($4,785) and Bloomington ($4,483), others, such as Kokomo ($3,630) and Fort Wayne, where the average monthly price is a moderate $2,978, are inexpensive in comparison.

Note: Data on senior care costs wasn’t available for Hancock County, so data for the adjacent Indianapolis area was used.

The average monthly costs for senior care in Hancock County range from just $1,733 for adult day health services to $6,910 for nursing home care. Nursing home care is the most expensive option because these facilities offer round-the-clock skilled nursing services. Adult day health services cost the least because they cover a limited amount of weekday care in a group setting, and rates for in-home care options also represent the cost of services only. The real monthly cost of these services is significantly higher when necessary household operating costs are factored in. The price of assisted living is about halfway between in-home and nursing home care, and it’s provided in a residential setting and typically includes room and board.

Medicaid provides vital health care coverage to low-income Americans of all ages. The program is a jointly funded cooperative effort between the federal and state governments. Each state administers its own Medicaid program within the federal government’s established framework.

Indiana Medicaid provides free or low-cost health care services to about 20% of the state’s population, or around 1.3 million people, including the blind, disabled and elderly. The essential services covered include doctors visits, hospitalization, prescription drugs and nursing home care.

To qualify for Indiana Medicaid coverage for long-term care, applicants must be U.S. citizens or permanent residents and blind, disabled or aged 65 or older. Applicants’ assets and income are limited to:

• $2,000 or less in total countable assets for single people and $3,000 for married couples
• $2,313 or less in monthly income for each person

Indiana Medicaid considers income from all sources when determining eligibility, but some assets are disregarded. These include the applicant’s home, one vehicle, household effects and personal belongings.

Additional income and assets may be disregarded for a married applicant whose spouse isn’t applying. Up to $3,160.50 of the applicant’s monthly income and $126,420 in joint assets may be excluded as allowances for a non-applicant spouse.

Residents of Hancock County can apply for Indiana Medicaid online or by calling (800) 403-0864.

Aged and Disabled Waiver

The state of Indiana offers an Aged and Disabled waiver to eligible elderly and disabled residents as a cost-effective alternative to institutional care to provide a higher quality of life. The program is designed to cover the cost of care services and supports in a participant’s home or a Medicaid-approved adult foster care or assisted living facility. To qualify for the A&D waiver program, Hancock County seniors must:

• Meet the financial, functional and residency requirements of regular Medicaid
• Be assessed as needing a nursing facility level of care but able to live in a community environment

Those accepted into the waiver program are evaluated to determine their care needs and receive a personalized care plan that includes case management and other necessary services, such as:

• Transitional aid to relocate from a nursing facility to a community setting
• Assisted living services
• Prepared meals
• Medical equipment and supplies
• Attendant services to complete activities of daily living
• Nutritional supplements
• Personal emergency response system
• Transportation services

Unlike nursing home care, the A&D program isn’t an entitlement with Indiana Medicaid, so eligible seniors may have to wait to receive services depending on participation numbers and availability.

Hancock County seniors interested in applying for the A&D waiver should first apply for regular Medicaid and then contact the Area Agency on Aging serving Hancock County at (800) 489-9550 to schedule an assessment.

Residential Care Assistance Program

Hancock County seniors who aren’t able to live independently due to age or physical disability may receive some help paying for assisted living through the Indiana Residential Care Assistance program.

This state-funded program supplements an eligible person’s monthly income to cover costs such as care coordination, room and board, meals and laundry service. To qualify applicants must:

• Be blind, disabled or aged 65 or older

• Be an SSI benefit recipient or eligible for Medicaid

• Own less than $2,000 in assets as a single person or $3,000 as a married couple

• Require assistance but not a nursing home level of care

• Reside in a state-licensed residential care facility

RCAP assistance is only available at facilities under contract with the Indiana Division of Aging. There are a limited number of participating facilities statewide, so there may be a waiting list, and applicants may need to relocate to an out-of-county facility to take advantage of the program.

To learn more about RCAP benefits, seniors should contact the local Area Agency on Aging at (800) 489-9550. Completed applications and all necessary documents should be submitted to the Indiana Division of Family Resources.

Assisted Living Bridge Loan

Seniors who need short-term assistance paying the costs of moving to an assisted living facility may benefit from an Elderlife Financial bridge loan. These loans offer a line-of-credit structure, interest-only payments, terms of up to 12 months and the option to schedule convenient direct payments to the borrower’s care facility. There are no early repayment penalties, so the loan balance can be paid off as soon as long-term benefits kick in or when a home or other assets sell.

Applications may be completed online or over the phone, and up to five family members can cosign with a senior to aid the loan approval process. For more information, Hancock County seniors can call Elderlife Financial Services at (888) 228-4500.

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