Page Reviewed / Updated - Apr. 2019
The guide is intended to help seniors and their loved ones understand costs associated with senior living in Loveland, Colorado, including assisted living, home care, adult day care and nursing home services. It also provides financial resources for those who need assistance paying for the cost of care, as well as clear explanations of alternatives for Loveland area seniors who need affordable or low-income living arrangements. To read more about paying for senior care in the rest of the state, check out our comprehensive guide to paying for senior care in Colorado.
The cost of senior living in Loveland tends to be higher than the state average, according to the 2018 Genworth Cost of Care Survey. The only exception to this is the monthly cost of adult day care, which averages $162 lower than the state average and about $97 lower than the national average.
In all other categories of senior living, average monthly costs in Loveland are above the state and national averages. For example, seniors should expect to pay about $5,000 per month for assisted living in Loveland. This is $1,000 per month more than the state and national average of $4,000.
Loveland’s average monthly cost of home health care is also higher than both the state average and the national average. The largest difference, however, is the average monthly cost for nursing home care. Costs in Loveland average $9,343, which is $1,451 higher per month than Colorado’s monthly average cost and $1,902 higher than the national average.
Note: Senior care cost data wasn’t available for Loveland, so the data for the closest city, Boulder, was used.
Assisted living costs in Loveland average higher than the state and many cities within the state. Loveland’s hefty average of $5,000 per month for assisted living seems really high compared to Colorado’s median of $4,000 per month. However, the average monthly cost of assisted living in Colorado Springs and Denver isn’t much lower — $4,875 and $4,700, respectively.
The rest of Colorado’s larger metropolitan areas have average monthly assisted living costs that are much less per month than those in Loveland. In Pueblo, assisted living costs are $1,000 less while Grand Junction, the lowest average monthly assisted living cost, is $1,650 less than in Loveland. Even though Fort Collins at $3,950 monthly and Greeley at $3,670 monthly are closer to the state average, they are both still significantly more affordable than assisted living care in Loveland.
At $5,339, the average monthly cost of home care services in Loveland is also higher than the state average and major Colorado cities. Denver is the only city that’s on par with the state median of $4,767, which is $572 per month lower than Loveland’s average. Fort Collins has the second highest average monthly home care costs in the state coming in at $4,887.
All other major Colorado areas have monthly home care costs that are quite a bit lower than those in Loveland and slightly lower than the state average. Seniors in Colorado Springs can expect to pay about $4,567 for home care services each month, while those in Grand Junction pay around $4,528 and seniors in Greeley pay approximately $4,624. The Pueblo area has the lowest average monthly cost of home care at $4,195.
Loveland’s average monthly costs for adult day care are lower than the state and other Colorado areas. At $1,463, Loveland’s average is almost the lowest — only Grand Junction has a lower monthly average for adult day care costs at $1,408.
As with home care costs, Denver’s average monthly adult day care costs, which are $1,625, are on par with the state average. The average monthly adult day care costs in the Pueblo area are the highest in the state, coming in at $1,950. Colorado Springs also has an average monthly adult day care cost that’s higher than Loveland and the state median, $1,723, while Fort Collins has a midrange average monthly adult day care cost of $1,560.
The biggest difference in monthly average costs in senior living fall under nursing home care. Loveland’s average of $9,343 is quite a bit higher than the state median of $7,892 and the $7,772 average in Colorado Springs.
Denver and Fort Collins also have average monthly nursing home costs that are higher than Colorado’s average and closer to Loveland’s at $8,365 and $8,197, respectively. Greeley’s average monthly nursing home costs come in right under Loveland’s at $8,578, while Grand Junction, $7,740, and Pueblo, $7,650, both have the lowest average monthly nursing home costs in the state.
In Loveland, Medicaid is referred to as Health First Colorado. The plan covers nursing home care. It also covers some personal assistive services, which may benefit seniors residing in assisted living facilities, as well as seniors in need of home health care or adult day care services.
Health First Colorado is an entitlement program. This means that as long as seniors meet the eligibility requirements, they are entitled to the benefits the program provides.
Seniors age 65 and older are considered eligible for Health First Colorado if they have a monthly income of $2,250 or less and assets that don’t total more than $2,000. Married seniors who are applying for benefits individually don’t need to include their spouse’s income. In fact, they can transfer a portion of their monthly income to a non-applicant spouse if needed.
To see about qualifying for Health First Colorado, Loveland seniors can apply:
Elderly, Blind, and Disabled Waiver
The Eldery, Blind, and Disabled Waiver is one of several Home and Community Based Waivers offered to Loveland residents. It helps seniors who have neurological or physical impairments pay the costs associated with adult day care, assisted living and home health care. Loveland residents who wish to apply for this waiver must have a monthly income that’s less than three times the current Federal Supplemental Security Income (SSI) limit, countable resources totaling less than $2,000 ($3,000 for couples) and be receiving Health First Colorado benefits. Seniors can apply online or by calling 1-800-221-3943.
Old Age Pension (OAP)
The Old Age Pension program provides financial assistance to seniors between the ages of 60 and 64 who have a monthly income totaling $788 or less and assets valued at or below $2,000 ($3,000 for married couples). The maximum monthly payout amount is $788; however, this amount may vary due to the amount of SSI or veteran's benefits a senior receives.
The program doesn’t provide seniors with a consistent lump sum of financial assistance. Instead, the amount seniors receive varies because it’s the difference between the senior’s income and the minimum income amount that’s considered acceptable for the year.
Individuals enrolled in the program who don’t qualify for Health First Colorado may also be eligible for the OAP Health and Medical Care Program. Learn more about OAP and how to apply here.
Adult Foster Care (AFC) Program
The Adult Foster Care program provides financial assistance to seniors and disabled adults to cover the cost of services needed to allow them to reside in an adult foster care home instead of a nursing home. It’s important to note that while this is an entitlement program, it relies on the eligibility requirements for other state-run programs. In addition to housing, the AFC program provides seniors with 24-hour supervision, meals, transportation, personal care, medication assistance, and light medication.
Learn more about the Adult Foster Care program, including how to apply here.
Home Care Allowance (HCA) Program
The Home Care Allowance program provides financial assistance to elderly, disabled and/or low-income residents in Colorado to prevent nursing home placement. To qualify, Loveland seniors must be currently receiving Supplemental Social Security (SSI) income or be enrolled in the Colorado Aid to the Needy Disabled program. Also, seniors must not have countable resources exceeding $2,000 ($3,000 for married couples) in value. Benefits received through this program include basic services and assistance with normal activities of daily living including:
It’s important to note, the HCA program isn’t an entitlement program. Eligible seniors may be added to a waiting list after they apply. Learn more about the Home Care Allowance program, including how to apply here.
|Low-Income Energy Assistance (LEAP)||(866) 432-8435||Discover Goodwill handles LEAP applications in Loveland. It’s a federally funded program that provides financial assistance to low-income households who need help paying their heating bill. To qualify for the program, an applicant’s household income must not exceed 165 percent of the federal poverty level.|
|Larimer County Office on Aging||(970) 498-7750||The Larimer County Office on Aging has an in-home services voucher program that covers the cost of home and personal care services for those requiring assistance with activities of daily living. This isn’t an entitlement program, and there’s a cap on enrollment each year. Also, eligibility isn’t based on income, but preference is given to low-income Loveland residents.|
|Care Housing||(970) 282-7522||Care Housing offers low-income housing in the Loveland area. They have seven different low-income apartment complexes from which to choose. However, there aren’t any senior-only communities. To qualify for placement, an applicant’s income can’t exceed the income limits designated by Care Housing, but applicants do have to have an income that’s twice the amount of their rent.|
|Loveland Housing Authority||(970) 667-3232||The Loveland Housing Authority offers a low-income housing program. It isn’t an entitlement program, so seniors applying can expect to be on a waitlist for at least six months. In some cases, it could take over a year to get placement. The Loveland Housing Authority works with three local senior apartment complexes: Mirasol Senior Living Community, Silver Leaf I and II, and Dove Valley Senior Community.|