Affording Senior Living: Financial Options

Understand Your Financial Options!

Today, there are more resources for financing assisted living than ever before. At The Terraces at Park Marino, we understand that everyone has unique circumstances that help determine how they can best afford the cost of assisted living for themselves or their loved ones.

Rental Assistance Program

The Terraces offers a HUD money-saving option to help families who are looking for independent and/or assisted living for their loved one. While not everyone will qualify, we can offer eligible residents an opportunity to get a substantial discount off the monthly fee. Should you feel that you or a loved one may qualify for this program, please contact our Community Relations Director.

Elderlife Financial Services

To help seniors and family members navigate through the many options available for financing assisted living, The Terraces is pleased to partner with Elderlife Financial Services.

Begin your free financial consultation with Elderlife by calling 888.228.4500. With a single phone call, your loved one can get a complete solution tailored to their unique needs and resources. This includes help with real estate, veteran’s benefits, insurance policies, and a short term bridge loan if they need to move quickly.

Veterans’ Benefits

The U.S. Department of Veterans Affairs outlines the benefits available to our senior veterans. War veterans and their spouses may be eligible to receive nearly $2,000 per month to help defray the cost of assisted living or other non-reimbursed medical care through the Aid and Attendance program.

To learn more, contact Elderlife 888.228.4500

Tax Benefits

The IRS offers tax deductions for those receiving long-term care in a senior community due to chronic illness or the inability to live alone. The Terraces does not provide tax advice. Consult a tax advisor, for guidance on assisted living financing. As after-tax cost of senior living can represent a significant savings. Tax deductions may apply to apartment and care costs.

The Elderlife Bridge Loan

  • Free, Easy Application.
  • Affordable, interest-only payments.
  • Funds in as little as 24 hours.

The Terraces
at Park Marino

2587 E. Washington Blvd.
Pasadena, CA 91107

Office Hours
Monday - Sunday: 9:00am - 5:00pm