Many seniors and their loved ones worry and fret over how to pay home care providers, with some assuming that they don’t have the resources to pay for this much-needed service when the time comes. Many seniors that need assistance rely on a family member, usually unpaid, to help them out quite regularly. There are a few places to start when determining how you will pay for a licensed caregiver to step-in, and some things that you should know.
What do you need?
When Finding an in-home care provider, it helps to know what potential services include. For example, a homemaker can assist with activities of daily living (ADLs) such as dressing and preparing meals, as well as taking the client to appointments or shopping. Home health aides cover medical needs, such as tending to wounds or dispensing medications. The types of assistance you need dictate how services are paid-for.
Are there resources available to help pay for home care?
Medicare
Medicare will pay for things that are medically-necessary, but not for things related to ADLS, like errands or meal prep. Some supplemental plans or employer-issued insurance don’t often cover home care but may cover some period of assisted living. If you fall within the income guidelines, you may be eligible for Medicaid, which covers both in-home, assisted-living, and some residential care.
Veterans Administration
If you or your loved one is a veteran, you may be eligible for many different Department of Veterans Affairs programs that contribute to home care. Ask your VA representative or caseworker for more information.
PACE
In the Carolinas, there is a valuable resource called Program of All-Inclusive Care for the Elderly (PACE), which is a growing program funded by Medicare and Medicaid that assists keeping seniors in their own homes. This program offers in-home care, transportation, and even medications to help prevent hospitalizations and nursing homes for seniors with health challenges. Those seniors that don’t have Medicare or Medicaid may elect to pay privately for the services offered by this fairly-new program.
Community Organizations
Don’t underestimate the inherent resources in your own community, like your church, local Area Agency on Aging, and senior-citizen centers. These programs may offer meal delivery, adult day care, and grant money for assistance to the seniors served.
Insurance
If the day comes that you or your loved one need home health care, you may be able to cash in individual or group life insurance policies to pay for it. There will likely be a charge for cashing it out prematurely, but it can be a valuable resource in times of need.
A Bank
You may be able to secure a reverse mortgage from your bank to pay for home care. This may be a tricky approach as you could run out of home equity and be left needing additional assistance. It makes sense to speak with a mortgage counseling professional before taking the leap.
Preplanning
Individuals over age 50 are encouraged to invest and consider long-term care policies that offer in-home benefits when needed. These are typically purchased through an employer, long-before most are planning on needing this provision. Preplanning and purchasing these plans ensure you receive invaluable home care later.
When it comes to paying for home care, you are faced with choosing to plan in advance or plan during a time of crisis. Since each state varies, resources and eligibility will depend on where you reside.
Looking for reputable and experienced in-home healthcare in Columbia, SC? Talk to the professionals at Caring Healthcare for more information; they provide in-home care for elderly, special needs children, and those needing assistance due to illness or injury.
