Bloom Into Your Best Self

Financial Solutions

Financial Solutions

We understand that everyone has different retirement goals, unique financial circumstances and cost is a primary concern while considering senior living options. Our financial concierge is available to address the challenges people face when they are ready for senior living, but uncertain how to best afford it. There are available options through third-party financial assistance programs to help our residents and their families craft an affordable senior living experience at our premier community. We connect you with people and agencies offering flexibility and access to resources ensuring your goal of moving into our community is realized.

Government & State Options

If you are a wartime veteran or the surviving spouse of a veteran and are paying for care, you may be eligible for a tax-free pension from the U.S. Department of Veterans Affairs, which provides up to $1,949 per month through the Aid & Attendance benefit. Veterans Financial, Inc. will help you navigate the eligibility and application process free of charge. To learn more, please contact: 1-800-835-1541 /

In some states (i.e. Indiana and Ohio), Medicaid Waiver programs are available to fund assisted living services. Other state specific programs may exist. For example, Indiana has a special program, Money Follows the Person Demonstration Grant, which assists individuals moving from a nursing home or hospital to assisted living.

To download the Veterans Financial brochure, please click below:

Loan & Line of Credit Options

A line of credit secured by cash, properties, CDs or equities allows you to borrow money against the account. Another fast and easy option is the unsecured Elderlife Line of Credit for Senior Living, which can help your family bridge a funding gap, supplement community fees, move-in deposits or monthly rent while you are waiting for veteran or other benefits, the sale of your home or insurance benefits to arrive. With a friendly U.S. based call center specializing in helping seniors and their families, a same day application and decision (in most cases), Elderlife is used by many seniors and their families. To learn more, please contact Elderlife Financial Services and let them know you are inquiring about a stay in our community: 1-888-228-4500 /

To download the Elderlife Financial brochure, please click below:

Traditional Options

Cash, investment accounts and retirement savings (such as CDs, IRAs, 401 (k), social security, pensions, etc.) may generate income in the form of dividends, capital gains and interest, which can be used to fund senior living. Assistance from family members is also an options.

Insurance Options

Long term care insurance can help defray the costs of senior living. Additionally, many individuals are unaware that their life insurance policy is a financial asset that can be sold to fund their current senior living expenses. Commonly referred to as a Life Settlement, it involves the sale of an existing life insurance policy to an investor for a lump sum cash settlement greater than the cash surrender value given by the insurance company. Cash settlements typically range in amounts between 10% and 40% of the life insurance policy’s face value. Policy owners may want to consider this option if they have outlived the purpose of a life insurance policy, can no longer afford it, feel it has become an underperforming asset, or require liquidity and are considering letting the policy lapse.

Real Estate Options

Real estate is a viable option to fund senior living. Some individuals elect to sell their homes if no one resides there any longer, they wish to downsize or transition into a senior living residence. The money generated from the sale of a home can provide the funds necessary to cover senior living costs. For individuals who elect to keep their homes, borrowing against the equity in real estate is an option to fund senior living. Home equity loans enable owners to use the equity in their home as collateral. Reverse mortgages may be also be a way to borrow money against equity in an existing home. This may be a practical option if one spouse remains in the home while the other resides in a senior living community. Reverse mortgages offer homeowners the opportunity to convert home equity into cash and the loan typically does not have to be repaid until neither spouse resides in the home.

Companion Living Options

Semi-private friendship suites are a wonderful alternative for individuals looking for lower monthly rates. Residents can be matched with a roommate to share a suite and living costs. Residents still retain their individuality and receive all the features and benefits offered by our community such as nutritious meals, wellness programs, enriching activities, transportation and resident centered health care. The goal is to match residents with common backgrounds and interests. Companion living eases the resident’s transition into the community and relieves feelings of isolation.

Tax Benefits

Senior living costs may be tax deductible as a medical expense if the resident is unable to perform (without substantial assistance) at least two activities of daily living or who require substantial assistance due to Alzheimer’s or dementia. In some cases, tax exemptions may be available for family caregivers if they are able to claim the resident as a dependent for federal income tax purposes. Additionally, family members may decide to share the costs of senior living and take advantage of the IRS gift tax exemption.

Cost Compare

Many of our residents are surprised to learn that our community, which includes services, care and amenities as part of the base rent, is more affordable than their daily cost of living. Put the costs into perspective by taking into account what our community offers and comparing it against your daily cost of living using the Financial Cost Comparison Worksheet below.

To download the Bloom Senior Living Financial Solutions brochure, please click below:

We are not a provider of these products and do not provide financial, tax or legal advice. We are independent from the companies referenced herein, do not endorse their services and receive no incentive compensation from the companies and products listed. We do not endorse any specific company referenced herein. The information provided is for general informational purposes only and a limited description of options available. We disclaim any responsibility for the accuracy of information provided by the programs referenced in this brochure. We recommend you and your family fully explore all available options with these agencies and others before selecting the option and company that best fits your needs. There are a variety of companies not listed in this brochure who perform the same services. Additionally, each option may have conditions, tax implications and legal requirements and you should consult your accountant, personal financial advisor and / or attorney first.


Contact Bloom at German Church

At Bloom Senior Living, our goal is to be accessible to our residents, their families and our associates. To that end, if you would like to contact us:


Our Contact Phone

317 891 1508


Our Contact Email


Bloom Senior Living

2250 Harvest Moon Dr.

Indianapolis, IN 46229

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