Colorado Springs Senior AdvisorWhat should we do when a parent's savings for assisted living are running out?
Start about six months ahead: ask the current residence whether it is a Medicaid-certified Alternative Care Facility, get a Health First Colorado eligibility screening, and contact The Resource Exchange (719-380-1100) about the EBD waiver.
If the residence is ALR ONLY, a move to an ACF may be needed. Our roster shows every ACF in El Paso and Teller counties. 32 of the 69 senior assisted living residences in El Paso and Teller counties carry the ALR/ACF code in CDPHE's data, with 766 licensed beds between them; most are smaller homes.
What happens to nursing home residents who run out of money in Colorado?
They apply for Health First Colorado; once approved, Medicaid pays the nursing home's rate minus the resident's income contribution, and the resident keeps a monthly personal needs allowance.
Ask the nursing home's business office for help with the application and whether the resident keeps the same room. Spouses at home are protected by Colorado's 2026 resource allowance of up to $162,660 and a monthly income allowance.
Are there other programs that help low-income seniors in Colorado Springs?
Colorado's Old Age Pension for residents 60 and older with very low income, VA pension with Aid and Attendance for eligible veterans and survivors, PACE, Medicare Savings Programs, and nutrition and transportation help through the Pikes Peak Area Agency on Aging.
Ask the county department of human services to screen for OAP and Medicaid together. A veterans service officer can screen for VA pension at no charge.
How do we spend down savings without breaking Health First Colorado's rules?
Spend on the applicant's own care and needs: paying the residence or nursing home, prepaying funeral expenses in an allowed arrangement, repairing the home the spouse lives in, buying needed equipment, or paying off the applicant's debts; gifts to family inside the five-year look-back can trigger a penalty.
Keep receipts for everything. An elder law attorney can review the plan in one meeting, and the county caseworker can tell you what the application will ask for.
Side by side
| Planning ahead means | Waiting means | |
|---|---|---|
| Timing | Applying months before money runs out | A gap with no payer |
| Setting | Choosing an ACF while there is time | A forced move on short notice |
| Assets | Spending down on allowed things | Gifts that trigger penalties |
| Help | Free counseling from county and PPAAA | Paying someone to fill out forms |
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.
