Finances
When You’re Out of Options: We’re Here to Help
If you’re wondering how to pay for a nursing home when your loved one has no money, you’re not alone. Many families across Colorado feel overwhelmed and scared when faced with this question. You want the best for your parent, but the costs feel impossible.
At Harmony Senior Referrals, we understand. We’ve helped hundreds of families through this exact moment, and we want you to know: there are options. In this guide, we’ll walk you through the financial resources available, from Medicaid and Medicare to veterans benefits and more, so you can make confident, informed decisions.
Nursing homes provide the highest level of care, but they’re also the most expensive. The average cost of a private room in Colorado is over $10,000 a month. For families with limited resources, this can feel like a dead end.
But the truth is, few families pay these costs out of pocket. There are programs in place to help, and knowing where to start is the first step.
Medicaid is the largest funder of nursing home care in the U.S. If your loved one qualifies, Medicaid can cover nearly all costs associated with a nursing home.
To qualify, your loved one must:
What Medicaid Covers:
📝 Tip: Colorado’s Medicaid program is called Health First Colorado. You can apply through your county office or speak with a senior living advisor to guide you.
Many assume Medicare will cover nursing home care, but it’s important to know it only pays for short-term rehab, not long-term residency.
Medicare Covers:
After day 100, families must find other ways to pay. Still, Medicare may help with hospice care and certain therapies within a nursing home.
If your loved one is a veteran, or the surviving spouse of one, they may qualify for benefits through the VA Aid and Attendance program or VA health care services.
What VA Benefits Can Help Pay For:
To qualify, your loved one must meet service, income, and medical criteria.
🔗 Learn more from the U.S. Department of Veterans Affairs
Social Security retirement or disability benefits can be used to help cover nursing home costs. But most monthly payments, around $1,800 on average, won’t cover the full amount.
Still, every bit helps. Combining Social Security with Medicaid or VA benefits can bridge financial gaps.
A nursing home may not always be the best fit, or the only option. Depending on your loved one’s needs, these may be more affordable:
You don’t have to do this alone. We’re here to help every step of the way.
How much does a nursing home cost in Colorado? The average cost is $9,000–$10,000+ per month depending on room type and services.
Does Medicaid cover nursing homes in Colorado? Yes. If your loved one qualifies, Health First Colorado (Medicaid) can cover most or all costs.
Can I use a reverse mortgage to pay for care? Yes, but it depends on the homeowner’s age and equity. It’s often a last resort but can provide access to funds.
Do all veterans get free nursing home care? Not all. Eligibility depends on service history, income, and medical need. Aid and Attendance is a helpful benefit for many.
What happens if my loved one runs out of money? They may qualify for Medicaid or other public programs. A local senior care advisor can help you apply.
Navigating senior care with limited funds is hard. But you don’t have to figure it out by yourself. At Harmony Senior Referrals, we’ve walked this path with countless Colorado families. We’ll listen, guide you, and help you find the right solution.
👉 Speak with a Local Senior Living Expert Today
Because peace of mind shouldn’t have to come with a price tag.
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