Caring for a loved one with memory loss is never easy, and when it’s time to consider a memory care community, the emotional weight of that decision can be heavy. Add in the stress of figuring out how to pay for it all, and the journey can feel overwhelming. If you’re looking into memory care options for your loved one, you’ve probably already seen how quickly the costs can add up. But here’s the good news: there are more ways to manage those expenses than you might think!
This guide is here to help you understand how memory care is typically paid for, which insurance programs might apply to your situation, and what local and national resources can help ease the financial strain. With a little guidance and the right support, memory care can become a more manageable—and hopeful—step forward for your family.
If you’re beginning the journey of finding memory care for a loved one, you may have already experienced that first moment of sticker shock. It’s a common and understandable reaction—especially when seeing monthly costs in Asheville that can range from $5,000 to $8,000 or more, depending on care needs and amenities.
These higher costs reflect the specialized nature of memory care: communities are thoughtfully designed to support individuals with dementia, offering increased safety features, personalized attention, and highly trained staff. While the price tag can feel like a lot, especially if this is your first time navigating long-term care, understanding what contributes to these expenses can make things clearer.
To help break it down, we’ve created a resource outlining four main factors that impact senior living costs in Asheville. It’s a great starting point if you're trying to make sense of what to expect and how to prepare.
It’s completely understandable to assume that programs like Medicare will help cover long-term memory care (as many families do), but when the bills start coming in, they’re often surprised to learn that coverage isn’t what they expected. If you’re navigating memory care for a loved one in Asheville, knowing what’s actually covered can save you both time and heartache.
One of the most common surprises families face is learning that Medicare does not cover long-term memory care. While it may help with short-term rehab after a hospital stay or cover certain medical services, it won’t assist with daily custodial care in a memory care community. This realization can be a major source of stress for families who assumed it would be their main safety net.
For families concerned about finances, Medicaid can be a lifeline—but qualifying isn’t always easy. North Carolina’s Medicaid program offers assistance for those who meet specific income and asset criteria, and certain waivers may help eligible seniors receive care in residential communities. However, the application process can be confusing and lengthy, often requiring documentation that’s difficult to track down without help. Many families find themselves overwhelmed before they even begin.
If your loved one has long-term care insurance, you may have more options than you think. These policies can help cover memory care costs—sometimes fully, sometimes partially—depending on the details of the plan. Still, not all policies are straightforward. Terms vary widely, and it can be tough to decipher coverage limits and benefit periods. That’s why it’s often helpful to sit down with a financial counselor at the community or seek advice from an elder care specialist who can walk you through it step-by-step.
The good news is that you don’t have to figure any of this out by yourself. Learn everything about the resources available near you, in our comprehensive Asheville dementia care resources guide.
While you may be feeling a bit overwhelmed by the thought of memory care expenses, there may be additional and helpful financial resources you haven’t yet explored. While insurance and Medicaid are often the first to be considered, several other programs could provide much-needed relief for your family:
Veterans Benefits: If your loved one is a veteran or the spouse of a veteran, they may qualify for the VA’s Aid and Attendance benefit. This monthly payment can help offset the costs of memory care and is a lifeline for many families navigating long-term support needs.
Life Insurance Conversions: You may be able to turn an existing life insurance policy into a long-term care benefit plan. This would provide helpful funds for memory care that you may not have realized were accessible.
North Carolina State Programs: The North Carolina Department of Health and Human Services, along with local aging agencies, may offer state-specific assistance, grants, or waiver programs that can ease the financial burden of care.
These options often go overlooked simply because families don’t know to ask. That’s why it’s so important to start conversations early with a trusted memory care community. The right team will walk you through these options, helping you find support that aligns with your loved one’s needs, as well as your family’s peace of mind.
If you’re still finding the financial hurdles in front of you daunting, it’s an important reminder that you’re not alone and you don’t have to navigate it all by yourself. A great place to start is by reaching out directly to a local memory care community in Asheville. Many offer complimentary financial consultations, where a knowledgeable team member can sit down with you, explain your options, help with any confusing paperwork, and even guide you through available benefits.
Families are often relieved to discover just how much support these communities can provide, including:
Clear and transparent pricing
Flexible payment plan options to fit your budget
Personalized assessments to determine your loved one’s care needs
Trusted referrals to elder law attorneys or financial planners
It all starts with a conversation. If you’re unsure whether it’s the right time to explore memory care, our guide on evaluating readiness for a move can help you take that next step with confidence.
At Arbor Terrace Asheville, we know that planning ahead for memory care is as much an emotional decision as it is a financial one. Families often face uncertainty, stress, and a long list of questions. That’s why we’re here: to walk alongside you, offering clarity, compassion, and guidance every step of the way.
We also understand that being proactive can make all the difference. For example, when you take time to explore your insurance options, understand available resources, and begin conversations early, the process becomes far less overwhelming. It not only helps you make informed and confident decisions, it also ensures your loved one receives the personalized care they deserve in a setting where they’ll feel safe, supported, and truly at home.
We’re more than a community—we’re a partner you can trust.
Take the first step today. Use our completely free Senior Living Cost Calculator to better understand your financial situation, or contact us to discover how Arbor Terrace Asheville can support your family every step of the way.