Various types of financial supports are needed for older people to successfully age in place, but the cost to implement age-friendly programs can be high. Financial resources may come from foundations, community or organizational partnerships, government funds, and reimbursement for services.
Government funds, like Medicaid, can be used to expand home and community-based services, which help individuals stay in their homes rather than nursing homes or assisted living alternatives for care.
Additionally, rural aging in place programs should consider applying for financial support from potential funders through grant programs or donation requests. When a program's organizers first approach potential funders, they should emphasize its expected successes and benefit for the greater community. It is also important to connect any funding requests with the mission and values of the funding agency.
Rural Health Information Hub's Rural Funding & Opportunities section offers more information on funding programs.
Resources to Learn More
Home and Community-Based Services 1915(c)
Describes HCBS waiver program basics, including who can get coverage and what services are covered.
How to Make and Pay
for Home Modifications to Enable Aging in Place
Discusses common types of home modifications, how to determine what modifications are needed and financial assistance available for home modifications.
Organization(s): PayingforSeniorCare.com, The American Elder Care Research Organization
PACE® Provider Grant Program
Program administered by the Centers for Medicare & Medicaid Services (CMS) that provides funding to develop Programs of All-Inclusive Care for the Elderly (PACE).
Organization(s): National PACE Association