Senior Communities and Training Centers


Several financing options are available to pay for assisted living

such as:

Private funds

Long Term Care Insurance (LTC)

Home equity or bridge loans

VA funding

COP funding

IRIS funding

Family Care Funding


Private funds: Private funds are generally use to pay for assisted living services and may include: cash on hand, CD’s, annuities, pensions, social security income, checking and/or savings, investments, real estate, etc.


Long Term Care Insurance: Insurance policies may cover long term care in assisted living and nursing homes. Phone the insurance company to determine the daily rate the policy will cover. Example: if the daily rate for assisted living is $80 per day: $80/365 days in a year = $29,200 per year or $2433 per month.


Home Equity or Bridge Loans: Banks, lending institutions, AARP, etc. may agree to provide an equity loan or line of credit against a home or property until the home or property is sold. This allows the home owner to use the equity before the home/property is sold to pay for services such as assisted living. When the home/property is sold, the loan must be paid in full from the proceeds.


VA Funding: Veterans or spouses of veterans may be eligible for the Aid and Attendance Benefit offered by the Veteran’s Administration. If a veteran or spouse of a veteran served at least 90 days of active duty with one day during a period of War, they may be eligible for assistance to help pay for assisted living.


Periods of War are as follows:


World War I: April 6th, 1917 to November 1st, 1918

World War II: December 7th, 1941 to December 31st, 1946

Korean Conflict: June 27th, 1950 to January 31st, 1955

Vietnam Era: August 5th, 1964 (2/28/1961 if "in country") to May 7th, 1975

Persian Gulf War: August 2nd, 1990 - Date to be determined.


VA offices are located throughout Wisconsin. Those serving BAKA communities are:


Brown Co. VA: 305 E Walnut St. Green Bay, WI 54305-3600, 920.448.4450, Email:

Outagamie Co. VA: 227 S. Walnut St. Appleton, WI 54911, 920.832.5697, Email:

Washington Co. VA: 432 E. Washington St. West Bend, WI 53095, 262.335.4457, Email:


COP Funding: The Community Options Program (COP) provides funding to those with financial need. The funding is provided by state, county, and federal funds and administered by the local county Human Services Department.


IRIS Funding: IRIS stands for Include, Respect, I Self-Direct. IRIS representatives assist clients in establishing monthly care budgets. IRIS the pays for a portion of the monthly care. Clients direct how the money is spent and administer it themselves rather than have a county or state agency, such as Family Care or COP, do it. Contact the local ADRC or Human Services Department to determine if IRIS is available in the county of residency.


Family Care Funding: Family Care provides funding to those with financial need. The funding is provided by state, county and federal funds and administered locally.

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