Financial Resources in Memphis, TN
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1029 Cherry Road, Memphis, TN 38117 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.
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
How can I inquire about financial assistance options available at Opus East Memphis?
If you would like details about financial assistance at Opus, please contact our supportive staff. We are dedicated to helping you explore your options and provide the care you need. You can also take advantage of our complimentary senior living cost calculator to make planning easier!
Does Medicare cover the cost of assisted living in Tennessee?
Medicare does not typically cover the expenses for non-medical assisted living in Tennessee. This coverage is generally limited to short-term stays in skilled nursing or rehabilitation facilities for seniors recovering from illnesses or injuries, focusing on medical treatment and recovery support.
How can senior living at Opus East Memphis be paid for?
When looking to reside in a neighborhood that caters to seniors with specific health conditions, there are multiple payment avenues to consider, such as long-term care insurance, veteran’s benefits, community and state programs, and more. It’s advisable to consult with a senior living specialist to review your options and identify any financial aid programs that you may not have been aware of in the past.
What financial planning services do you offer to help residents manage their costs?
At Opus East Memphis, we are committed to offering an array of resources and services to seniors and their families, empowering them to make well-informed care choices. Our expert team is accessible 24/7 to address any queries you or your loved ones may have. In addition, we offer useful guides, host webinars, provide consultations, and more to help families understand financial assistance options and available programs, making sure you feel welcome and comfortable from the moment you step foot in our community.
How much does a senior living community cost in Tennessee?
In Tennessee, the cost of senior living communities is influenced by various factors including where the community is located, the amenities it provides, and the level of care it offers. Those opting for assisted living can expect monthly expenses ranging from $3,000 to $7,000. For individuals requiring memory care, the monthly costs might fall between $4,000 and $8,000.
What Others Have to Say
Welcome to Opus
Memphis, TN is our home, and we want to share it with you! The Memphis area has plenty to offer, from catching a blues or rock concert in the birthplace of rock and roll to enjoying a horseback trail ride or a historic riverboat cruise down the Mississippi River.
Stop by and experience the exceptional senior living at Opus for yourself!