The Role of Social Security in Funding Assisted Living: What You Need to Know As people age, they often face decisions about their living arrangements, including possibly moving into an assisted living facility. Unfortunately, many seniors and their families wonder if Social Security will cover assisted living costs. In this comprehensive guide, we'll explore the role of Social Security in assisted living expenses, potential additional funding sources, and the factors that can impact costs. Understanding Social Security and Assisted Living Social Security is primarily designed to provide income for seniors during retirement, not directly cover assisted living expenses. However, it can be a significant source of income for seniors, which they can use to help pay for assisted living expenses. How Social Security Benefits Work Social Security benefits are calculated based on an individual's earnings history and retirement age. Monthly payments are typically disbursed as retirement benefits and can be adjusted for inflation annually through cost-of-living adjustments (COLAs). Social Security Benefits and Assisted Living Costs While Social Security can contribute to assisted living costs, it's essential to understand that the benefits usually don't cover the entire expense. In addition, assisted living costs can vary widely depending on factors such as location, services offered, and the level of care needed.