When making the decision to pursue in-home care for yourself or a loved one, paying for such services is a factor for many. Below we have outlined some of the payment options which may be available to cover the cost of home care.
Home Care Private Pay
Many clients and their families choose to fund home care out of their own pockets, through savings, assets, and other investments. One or many family members may contribute financially to the cost of a loved one’s care. The client may choose to liquidate possessions and assets no longer in use to fund care, or tap into home equity for the funds necessary.
Private Insurance for Home Care
Depending on the private insurance held, you may have coverage for in-home care. Consult with your provider to discuss the options available to you. Another option may be to covert life insurance in order to access cash that will fund home care.
Benefit Programs for Home Care
Those with limited income and assets may qualify for public assistance that will cover or offset the cost of home care services. The Las Vegas Agency on Aging can provide you with resources that can help you access coverage for in-home care. Such programs include:
Medicaid
Veterans’ assistance programs
Program of All-Inclusive Care for the Elderly (PACE)
State Health Insurance Assistance Program (SHIP)
Volunteer Help for Home Care
Many families can offset the cost of home care by enlisting volunteers to help with some of the needed tasks. Local students, church members, neighbors, and family members may choose to volunteer their time to perform tasks such as running errands and doing laundry, while a caregiver can be utilized to perform more specialized care tasks.
Veterans Aid and Attendance for Home Care
Veterans Aid and Attendance (A &A) benefits may be available to you if you are a veteran or a surviving spouse. To qualify, veterans must have served a minimum of 90 days’ active duty, including one day during wartime, or have been discharged (not dishonorable). Your assets and income will be considered when determining eligibility, though there are exclusions for personal property. Contact the U.S. Department of Veterans Affairs for assistance with such programs.
