![]() It just looked like a nice place to live. It was clean and the people looked happy. To apply for a bridge loan, call Elderlife Financial at (888) 228-4500 or complete an online application.Montage Ridge was beautiful and I was impressed with the whole facility. Applications can list up six borrowers to help a senior qualify, but applicants will need to explain their planned source of long-term funding. Monthly payments for housing and care can be sent directly to a senior’s assisted living facility. Bridge loans usually have a line of credit structure, which allows approved seniors to borrow only what they need. An assisted living bridge loan can help seniors handle this gap in funding. Seniors waiting for a pension to kick in or a home to sell may find themselves in this situation. Assisted Living Bridge Loans Some Lakewood seniors may only need short-term help paying for assisted living. ![]() Applicants are interviewed by an intake program specialist who then makes an eligibility determination. Lakewood seniors interested in the OAP program can apply by calling the Jefferson County DHS department at (303) 271-1388. Applicants are also limited to $2,000 in total resources ($3,000 for couples). citizens or qualified legal residents and earn less than $771 per month. Colorado Old Age Pension The state of Colorado provides financial assistance to low-income seniors through its Old Age Pension program. To receive this benefit, Colorado seniors must be U.S. To learn more about the program or to apply, call the Colorado Department of Human Services at (303) 866-5700. Colorado’s Optional State Supplementation program provides up to $551 per month to single seniors and $1,489 to couples who qualify. Colorado is one of the many states that provides top-up funding to SSI recipients who live in assisted living facilities. ![]() Across the country, more than eight million people collect SSI benefits. Optional State Supplementation The federal Supplemental Security Income program provides monthly benefits to elderly people with low incomes and few assets. Seniors can apply for the EBD waiver by contacting the Jefferson County DHS office at (303) 271-1388. The program’s monthly income limit is $2,313, or three times the current Supplemental Security Income rate. To qualify, seniors must have a significant functional impairment and need a nursing home level of care. The waiver also covers services provided in alternative care facilities, including assisted living residences, but it doesn’t cover room-and-board costs. This program provides a number of long-term care benefits, such as adult day health care, homemaker and personal care services. Elderly, Blind and Disabled Waiver Lakewood seniors who need help paying for assisted living care may qualify for the Elderly, Blind and Disabled waiver. You can also call (800) 221-3943 or apply in person at the Jefferson County Department of Human Services office. Completing an online Colorado PEAK application is the fastest way to apply for coverage. Many assets are exempt, including a primary residence, personal property, household belongings and one car. Countable assets are capped at $2,000 for individuals and $3,000 for couples. The limit for two-person households is $22,491. One-person households must have an annual income of $16,612 or less. To be eligible for Health First Colorado coverage, state residents must meet the program requirements. Eligible Coloradans receive many medically necessary services through Health First Colorado including: More than 1.2 million people are enrolled in Colorado’s Medicaid program, Health First Colorado, including children, pregnant women, seniors and people with disabilities. Medicaid is a joint federal and state program that provides medical coverage to low-income Americans.
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