Financial Solutions for Mercy Retirement & Care Center

By: Mercy Retirement Center  09-12-2011
Keywords: Assisted Living, senior services

We are committed to providing referrals to senior services regardless of an individual’s economic means. There are many services available now to help residents and their families with more affordable options. We feel all seniors deserve a quality lifestyle and a place you can call home. If you or someone you know would like to live at an Elder Care Alliance community but needs financial assistance, the following resources may be helpful to you.

Companion and Studio Living. There are many ways to enjoy an Elder Care Alliance community at lower monthly rates without sacrificing any of our amenities, programs, or services. Roommates can enjoy a shared suite, or you can opt for a private studio apartment. Please let us know if you are interested in either of these options and we can refer you to the Elder Care Alliance community that best fits your needs at a price you can afford.

Elderlife Line of Credit. If you are in the process of selling a home or liquidating a portfolio, or are waiting to receive veteran benefits, this fast and easy way to finance a move to an Elder Care Alliance community is available to anyone, regardless of age.* In most cases, applicants will receive a same-day decision and funding within 48 hours. For more information, contact Elderlife Financial Services at 1.888.228.4500, or visit them online at They will gladly show you how you can make low, affordable interest-only payments (with principal due at maturity) while you take the time you need to help your loved one with their financial affairs.
*Subject to bank/credit approval. M&I Bank is the creditor for the Elderlife Line of Credit program.

Gift Tax Exemption. Family members can contribute toward the cost of assisted living and take advantage of the IRS gift tax exemption. In 2009, individuals are able to provide gifts of up to $13,000 per person per year without paying a federal gift tax. For more information, please consult your tax advisor.

For more information about any of these programs, please contact a Community Relations Director at your local Elder Care Alliance community.

Please note that Elder Care Alliance neither endorses nor requires the exclusive use of the following service providers. Before making any decisions, families are strongly encouraged to research all options available to them and to discuss their options with their financial, tax, and legal advisors.

The information in this article was current at 06 Dec 2011

Keywords: Assisted Living, senior services

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Mercy Retirement & Care Center

Our kind and patient caregivers help residents with medication management, showering/bathing, grooming, dressing, and escorting to the dining room and programs. Residential living is a comprehensive package of services and amenities designed to reduce daily chores – and give our residents a better quality day.