Thursday, December 13, 2018
The trend of seniors choosing home care in order to remain in the comfort of their own homes wisely continues! It’s smart for all families to consider the options that allow them to stay close to all they know and love. When home care is desired, how can an elderly person or family pay for this professional help? You may be surprised at the options available.
5 Ways To Pay For In-Home Care Services
Private long-term care insurance almost always covers in-home care. Alternately, some life insurance policies can be converted to cash to help pay for caregiver services. We recommend you have your policy thoroughly reviewed by an expert to understand exactly how much it does cover.
Some older adults choose to pay for in-home care from their own savings, investments, or the equity in their homes. They also might consider liquidating assets like vacation homes or recreational vehicles that are no longer being used, in order to create another source of cash. In other circumstances, children, siblings or extended family might pool their assets to contribute as a group for their loved one’s caregivers.
Public Benefit Programs
Elderly adults without substantial assets, or who are living on a smaller limited income, may qualify for assistance from veteran’s benefits, Medicaid, Program of All-inclusive Care for the Elderly (PACE), State Health Insurance Assistance Program (SHIP) or another state program, depending on where they live. A good place to start researching resources for in-home care is the local Area Agency on Aging.
Assistance for Veterans
There are programs specifically created for veterans and their spouses who need trained in-home care for bathing, dressing, monitoring medication, and more. A program called Veterans Aid and Attendance (A & A) is available to those who meet their qualifications. The program has an equation for eligibility, which includes exclusions for personal property and the mandatory passing of an “Income and Asset Test.”
We recommend you contact an expert who is a VA-accredited claims agent for more details or visit the website of the U.S. Department of Veterans Affairs to learn more about this program.
Request a Local Volunteer to Fill in the Gaps
There are people who volunteer through their local churches, schools, or community service programs who are willing to offer home care services at no charge to aging adults and families.
This volunteer may not be professionally trained, but can easily handle errands, light housekeeping or chores. However, when it comes to assistance with personal care needs or complex medical conditions, a licensed professional home care agency should be consulted.
For more information please feel free to call Concierge Care at 888-205-9940 to talk further about our home care referral options for you or your loved ones today. We would be happy to provide you with a free in-home consultation and connect you with the experts that can assist you with your individual needs.