Paying for care at home can be confusing, but our experts have the information you need to make the best decision for your family.
Continuing to live at home for a lifetime is the aim of nearly all older people. Home is the place we are most content. It’s where memories have been and continue to be made. We have meticulously designed the atmosphere at home based upon our particular tastes and preferences. It’s also where we have the freedom to make all of our own choices: from what and when to eat our meals, to which activities we engage in, to the visitors we spend our time with.
If maintaining the house or taking care of everyday needs becomes challenging later in life, senior in-home care is often an excellent solution. Home care allows for independent living where an older adult chooses to remain at home with just the right measure of support.
At Home With You Senior Care, a trusted provider of home care in Reisterstown, MD and the surrounding communities, we receive calls every day from older adults and their family members who want to find out about our home care services, and one of the first questions is generally, “What are my options to pay for care at home?”
There are actually many different methods to cover home care costs. Our team is here to help you determine the most effective means for you.
Private Pay
Because home care services are non-medical in nature, the most common method to pay for them is out-of-pocket. Consider these ideas:
- Talk with a financial planner. Financial advisors offer support on deciding which financial investments you can and should use to finance senior care services.
- Evaluate the value of personal property, such as art, antiques, collectibles, etc. that you might choose to liquidate.
- Talk to a tax professional about identifying exactly how much revenue you might gain from selling a piece of property, or whether to explore an equity line of credit.
- Consult with other loved ones to talk about splitting the cost for senior care.
Veterans’ Aid & Attendance
The Veterans’ Aid and Attendance program helps wartime veterans and their spouses cover the cost of care at home, if they meet the following requirements:
- An honorable or general discharge.
- Orders from a physician verifying the need for help to manage daily activities of living.
- Specific financial requirements.
- 1 day of service that occurred during an active war, as well as at least 90 days of service total.
Housebound benefits are another consideration for some veterans. This is an amount that is paid in addition to a veteran’s monthly pension plan. Qualifications include:
- A single permanent disablement which has been confirmed as 100% debilitating, making the veteran permanently and substantially restricted to the home; or
- A single permanent disablement that’s been established as 100% debilitating, alongside another disability (or disabilities) proven as 60% or more disabling.
Long-Term Care Insurance
Even though Medicare and standard health insurance plans typically do not cover the fee for non-medical in-home care services, long-term care insurance policies often do. The requirements for using a long-term care plan involve a person’s lack of ability to execute basic activities of day to day living, such as taking a bath or shower, getting dressed, eating, using the bathroom, walking, and transferring from a bed to chair.
Home With You Senior Care’s experts in home care in Reisterstown, MD and the nearby areas are here to help you with obtaining any benefits to which you might be entitled. We will work with you to create a custom plan of care that fits a senior’s unique needs and budget. Contact us at 410-756-0959 for a no-cost in-home consultation at your convenience to find out more.