How do I pay for homecare?
There is no denying that home care is a valuable service. Many find home care to be the vital link to remaining at home, or the ideal solution to help adult children feel their loved ones are safe and well cared for. While the emotional value is clear, the ability to manage the financial cost of home care is on the minds of many older adults and their families.
But how do families pay for home care? Generally, individuals pay for home care with their own personal funds. Families may also use long term care insurance or implement reverse mortgages. Some veterans and their spouses qualify for the Veteran’s Aid and Attendance program, which helps with home care costs. Additionally, some states offer programs through Medicaid to assist with home care costs.
Most home care agencies (who employ their caregivers, such as Lifematters) are happy to work with you to explore your options and help you structure a care plan and payments.
Next week: How do I find a caregiver?