How to Pay for Home Care
When a chronic health condition, recovery from an illness, dementia, or even the normal aging process makes it difficult for a senior to live at home safely, in-home care can provide the supervision and assistance they need to age in place. However, families are often concerned about how much home care services cost and what their financial options are for payment.
Seniors and their families may have several choices when it comes to paying for home care. Finding the right options to pay for your loved one’s care starts with determining the type of care they need. Medically necessary home health care, provided by trained medical professionals like registered nurses and therapists, is the most expensive level of care. Home health care is likely to be covered by a combination of payment options, which may include Medicare, Medicaid, veterans’ benefits, and other alternatives. Nonmedical home care provides companionship and assistance with daily activities and is typically paid for out of pocket. A comprehensive needs assessment is usually conducted to determine the type and amount of services a senior requires to meet their unique needs.
Raymond James is not affiliated with AgingCare.com or Kevin Ryan
