Financial Resources in Park Ridge, IL
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10 North Summit Avenue, Park Ridge, IL 60068 Map
Financial Resources For A Seamless Transition
We understand that choosing a senior living community can be overwhelming, especially when it comes to the cost. That’s why we’ve designed resources and tools to help you calculate the cost of senior living and make an informed decision.
Senior Living Cost Calculator
Our cost calculator is a simple tool that allows you to estimate the monthly cost of senior living. Input your preferences and needs, and we’ll provide you with an estimated cost that meets them.
VA Benefits
The Department of Veteran Affairs (VA) offers benefits to help Veterans pay for increased senior care. The Aid and Attendance benefit is one of these programs and can provide eligible U.S. Military Veterans and their spouses over $2,600 of monthly, tax-free income, which can help cover the costs of their senior care. Eligibility can be determined in less than 5 minutes by reviewing wartime dates, discharge type, care needs, income, and assets.
Need Help Paying for Senior Living?
We’ve partnered with ElderLife Financial to provide you with funding options for a seamless transition to senior living.
Unsure about your financial options? Explore a range of cost-effective solutions tailored to individual needs and circumstances.
- Selling the Home
- Long-term Care Insurance
- Tax Benefits
- Life Insurance
- Social Security
- Reverse Mortgage
- Bridge Loans
- Companion Living
- Companion Living
- Pay with Personal Funds
- Shared Housing Options
Frequently Asked Questions
What is included in the monthly cost of living at Summit of Uptown?
Our professional team works hand-in-hand with the families of those who call our community home to develop care plans that best suit their needs. Living packages include everything your loved one could possibly need, from chef-prepared meals, snacks and beverages in a restaurant-style setting to housekeeping for your private apartment, luxurious amenities, concierge services and so much more.
To better assist you with identifying potential expenses, please utilize our free senior living cost calculator or reach out to our compassionate team members with any questions at 847-813-7447.
Does Medicare cover the cost of assisted living in Illinois?
Medicare typically does not cover the cost of assisted living services in Park Ridge, IL, or anywhere else in the United States. Medicare is primarily designed to cover medically necessary services, such as hospital stays, doctor visits, and certain medical treatments. However, individuals with Medicare may be eligible for certain medical services related to assisted living, such as doctor visits, diagnostic tests, and prescription medications to manage symptoms of dementia. Additionally, Medicare Advantage plans, which are offered by private insurance companies approved by Medicare, may provide some coverage for memory care services, but coverage varies by plan.
How can senior living at Summit of Uptown be paid for?
Paying for a neighborhood that specializes in treating seniors with specific health conditions can involve several options, including long-term care insurance, veteran’s benefits, community and state programs and more. It’s best to talk with a senior living professional team about your options and to help you uncover any financial assistance programs you may not have been aware of previously.
What Financial Planning Services Do You Offer To Help Residents Manage Their Costs?
At Summit of Uptown, we take pride in offering countless resources and services, so that seniors and their families can feel confident in making the best care decisions to meet their needs. Our professional team is available around-the-clock for any questions you or your loved one may have. We also design helpful guides and provide webinars, consultations and more to inform families of the financial assistance and programs available to them, as well as ensure they feel right at home from the moment they first walk through our doorway.
What if a resident needs to transition to a higher level of care?
At Summit of Uptown, there are several care options available for your loved one, including assisted living, early-stage dementia care, and advanced memory care. With flexible care plans that adapt as our residents’ needs do, you never have to worry about feeling stuck in one particular plan. We understand how our residents’ needs and preferences adjust, and we’ll gladly help you find the most affordable options, assistance, and anything else you may need, so your loved one can live their brightest and boldest lifestyle without having to worry about unexpected fees.
How much does a senior living community cost in Illinois?
Senior living community costs in Illinois vary widely depending on factors like location, amenities, and level of care. According to estimates provided by Genworth, expect to pay between $2,000 to $6,000 per month for assisted living, while memory care can range anywhere from $4,000 to $8,000 per month.
What Others Have to Say
Welcome to Summit of Uptown
Experience the exciting Park Ridge community for yourself and what makes it truly special to our caregivers and residents. As a Chicago suburb, Park Ridge offers all the excitement of the big city with small town charm.
From enjoying a quiet stroll through the wildwood nature center to taking in a film at the Pickwick theater, there's something here for everyone.
We look forward to welcoming you for a visit at The Summit of Uptown!