Learn More About What We Provide.

What services are available at Spring Gardens?

Spring Gardens provides numerous Community Services to all residents. In addition, we provide individualized services for Independent Living, Assisted Living, and Memory Care. We also provide Respite Resort services for those needing temporary care.

What are my payment options?

As our economy changes, we know that many seniors are focused on finding the best way to finance a move to a senior living community. We want you to be aware of some financial options that you may not have considered. These provide flexibility and access to resources when you need them.

Conventional: You can use cash savings, CDs, IRAs, 401(k), investments, pension funds, and social security to form a pool of money that can also generate income in the form of interest, capital gains, or dividends. This money can be used to pay for your monthly rent at the community. Many of these options can also be used as a line of credit as needed.

Elderlife Financial Services: A loan structured as a line of credit with low monthly payments that you and your family can use to supplement or finance your monthly rent. Elderlife Financial Services specializes in helping families with senior living needs. Elderlife can be reached at 1-888-228-4500 or at www.elderlifefinancial.com.

Real Estate: The sale of your home is a personal decision. You may also want to explore a home equity loan or reverse mortgage to generate funds for your move to our community. Home equity loans come in many different forms, but generally enable people to use the equity in their home as collateral. If you are not ready to sell your home, consider renting it out for a while and using the rental income to cover your monthly costs.

Insurance: Long term care insurance provides funds for care in situations not typically covered by health insurance, Medicare, or Medicaid. Assisted living at our community may be covered and premiums are usually based on the age of the insured. Life insurance settlements are another way seniors can receive funds to pay for senior living. This option typically includes selling a life insurance policy. These settlements can be made directly with an insurance company or with a third party.

Government Options: Benefits provided to Veterans often provide an additional source of funding for long term care for those who qualify. For more information go to www.veteransaid.org. We also work with the New Choices Waver program for eligible individuals.

Tax-Deductions: Residents, family members, and others who pay for an individual’s care in an assisted living community can, in most cases, use the monthly cost of assisted living as a tax deductible medical expense. Details are available in two IRS documents: Tax Topic 502 (Medical And Dental Expenses) Go to www.irs.gov. We cannot provide tax advice; rather, you should consult a personal tax advisor or the IRS for information specific to your needs. Each of these options should be carefully considered to make sure it is right for your individual situation. There are a number of legal requirements and tax implications that should be reviewed.

More Coming Soon!

Please call (435) 688-1622 for more information.

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