Colorado Springs Senior AdvisorHow do most Colorado Springs families pay for assisted living?
With the resident's own income and savings first, often including proceeds from selling a home, plus long-term care insurance, VA pension where eligible, and help from family; public programs usually come later, after savings are spent down.
At Colorado's 2025 median of about $6,584 a month, $300,000 in savings and a $2,500 monthly income cover roughly six years of assisted living before care levels rise. Do that arithmetic with real quotes before signing, and plan the point at which Health First Colorado or a move to an ACF might be needed.
What is Colorado's Old Age Pension?
The Old Age Pension (OAP) is Colorado's state cash assistance for residents 60 and older with very low income and resources; HCPF's January 2026 limits chart lists the individual OAP standard at $1,032 a month, and OAP recipients also receive health coverage.
OAP is not a long-term care benefit by itself, but for someone with little income it can be part of how room and board is paid in an ACF. Apply through the county department of human services or PEAK. Because OAP rules on income, property and sponsors differ from Medicaid's, ask the county worker to screen for both at once.
Does Colorado offer any property tax help to seniors who stay home?
Yes. Colorado's senior homestead property tax exemption reduces the taxable value of a primary residence for owners 65 and older who have owned and lived in the home for at least ten years, and surviving spouses of qualified owners can keep it.
Apply through the El Paso or Teller County assessor. The exemption is a modest saving, but for a widowed homeowner on a fixed income it can help pay for a few hours of home care a week. Disabled veterans have a separate exemption.
What should a Colorado Springs family check before using home equity for care?
Whether the home is the at-home spouse's main asset, how a sale affects Health First Colorado eligibility, capital gains and the step-up in basis at death, and whether a reverse mortgage would leave enough equity if the owner moves out permanently.
A reverse mortgage generally comes due when the borrower has not lived in the home for 12 months, which happens with a permanent move to assisted living. An elder law attorney or a HUD-approved housing counselor can lay out the options in one meeting; PPAAA's Yellow Book lists local legal help.
Side by side
| Private pay planning means | It does not mean | |
|---|---|---|
| Budget | Real quotes multiplied out over years | Trusting a base rate |
| Programs | Knowing when OAP, the waiver or Medicaid fit | Giving assets away to qualify sooner |
| Home | Weighing sale, rental or reverse mortgage | Selling in a hurry from a hospital bed |
| Help | Free counseling from PPAAA and county offices | Paying for benefits applications |
Drawn from 6 CCR 1011-1 Chapter 7, CDPHE and HCPF publications, CareScout, CMS, the VA and the Pikes Peak Area Agency on Aging; our editorial standards explain how we check them.
