Many individual clients and/or their families pay for home care from their own assets, investments or savings. Some family members each contribute together to pay for their loved one’s caregiver costs. Liquidating possessions that a senior no longer uses such as vacation homes, vehicles, boats, land, livestock, etc. is another source of finances as well. Accessing equity in the loved one’s home is also a common financing option. Provided certain requirements are met life insurance policies may be converted to cash and used for home care.
Many private Long Term Care (LTC) insurance policies cover personal care and other home care services. Most policies have “elimination periods”. This is the period of time after a policy becomes active before the senior is eligible for any benefits. Typically, these are between 20 and 100 days, but some are even longer. If you or your loved one has a long term insurance policy, contact the Long Term Insurance insurer for status and benefits in the policy.
Understanding Long-Term Care Insurance
Services at Home and in the Community are part of the VA Medical Benefits Package. All enrolled Veterans are eligible for these services. However, to get the service you must have a clinical need for it, and the service must be available in your location. Services in the VA Standard Benefits Package include:
VA Home Care and Home Care Aide Program
Other Options to Cover Home Care:
Native Elder Care Benefits, Provides assistance to Native Elders with bathing, dressing, walking, eating, supervision, emotional security, and housekeeping.
Respite Voucher Program, Respite service can provide a much-needed, temporary break from the often exhausting challenges faced by family caregivers. Respite vouchers let caregivers hire another person (respite provider) to temporarily care for their loved ones.
Medicare Advantage, In-Home Services
Around the Clock Home Care does not require long-term contracts or deposits to start services.
Contact Us for more information on paying for home care and our care services.
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