In-home care is an option that many families are choosing more and more to care for their loved ones. Aside from wanting your loved ones to stay in the comfort of their own home, nursing homes and assisted living facilities can be more expensive and may not be as individualized as in-home care services. Now that you decided that In-home Care is the option for your loved one, the question arises, how are services paid?
Several financial options are available, including:
Private Pay allows families to come together to determine what will work best to pay for In-Home Care such as:
- Family members combining monies/splitting the cost.
- Client liquidates assets no longer in use ie.:
- Vacation Home(s)
- Accessing home equity is another common financing option
Whichever method your family decides to choose, HHC makes payment simple through our payment portal. We know that members supporting their loved one may live in different locations and in today’s world, no one wants to mail a check. After evaluation and plan of service are determined, it’s as simple as choosing the number of monthly hours your loved one needs starting from 10 hours a week and submitting payment below.
Your long-term care policy may have a clause for in-home care services. If you need assistance in determining if your policy covers caregiving services, we would be happy to assist you.
In addition, some life insurance policies will allow you to convert your policy into cash to assist with in-home care services.
Public benefit programs
If your loved one lives on a limited income with few assets, he or she may qualify for home care assistance through Medicaid, veterans’ benefits, Program of All-Inclusive Care for the Elderly (PACE) or State Health Insurance Assistance Program (SHIP). Check with Medicaid about PACE and in-home care beyond acute, short-term care. You may also want to talk with a SHIP counselor in your state (some programs use a different name, but they are still part of the SHIP network.) Your local Area Agency on Aging is another helpful resource for at-home care coverage.
Veterans Aid and Attendance (A&A)
Veterans and their surviving spouses who require the regular aid and attendance of another person (for activities of daily living such as bathing, dressing, medication monitoring, etc.) may qualify for a special veterans Aid and Attendance (A&A) benefit, in addition to a monthly pension. Military service qualifications include the following: At least 90 days of active duty, but need not have served in combat; one day of active duty during a period of war; or discharged from service under conditions other than dishonorable. Assets are included in the equation for eligibility, with exclusions for personal property such as the veteran’s home or vehicle. Veteran applicants must pass a complicated “Income and Asset Test.” Your local Right at Home office may be able to help you with the application process by putting you in contact with a VA-accredited claims agent. For additional A&A information, visit the U.S. Department of Veterans Affairs website.