Can You Afford Home Care?

When it becomes clear that an aging relative needs help to remain in their home, families often wonder how they will manage the care. Sometimes, family members are able to divide the needs between them, but often they need outside help, too. Home care is an excellent option for older adults who need flexible non-medical assistance.

Home Care Rochester NY - Can You Afford Home Care?

Home Care Rochester NY – Can You Afford Home Care?

However, if money is tight, you may wonder how to pay for home care services. The good news is, there are all sorts of resources that may be available to the older adult or their family members. Below are just a few.

Family Pool

Some families develop a care schedule and then determine how many hours per week they need home care to fill in and what the cost will be. From there, they work together to decide how much each family member, including the older adult, can contribute toward the cost. This way, one family member isn’t shouldering the entire cost and it isn’t a hardship for anyone.

Veteran’s Benefits

If your aging relative is a veteran, they may have access to veteran’s benefits that pay for home care services. Whether they are eligible depends on their level of disability and they must be enrolled in the Veterans Health Administration package of standard medical benefits. If they are eligible, they will receive a monthly budgeted amount that can be used to cover the services they need, including home care to assist with things like bathing, dressing, and cooking.

Long-Term Care Insurance

Some long-term care insurance policies will pay for home care services. The policy may have certain requirements, such as home care services being received through a licensed agency rather than a family member or privately hired caregiver. If your aging relative has a long-term care policy, contact the insurance company to find out if they will cover home care services.

Reverse Mortgage

People who are 62 or older and own a home may be able to take out a reverse mortgage. A reverse mortgage is a way for seniors to cash in some of the equity in their homes. It works sort of like a loan except that they won’t have to make monthly payments to pay it back. Instead, the money is paid back when the house is sold or vacated. Families should use this option with care since there are fees involved and it will leave the older adult with fewer assets to pass on to their loved ones when they die. Be sure to do your research and contact a qualified lender with a good reputation as there are fraudulent programs out there.

Sources:  https://www.aarp.org/caregiving/financial-legal/info-2017/afford-a-homecare-worker.html

https://www.aarp.org/health/health-insurance/info-06-2012/understanding-long-term-care-insurance.html

https://www.consumer.ftc.gov/articles/0192-reverse-mortgages

If you or an aging loved one are considering Home Care Services in Rochester NY, contact the caring staff at Caring Hearts of Rochester today! Serving Rochester, Pittsford, Greece, Webster, Canandaigua, Fairport, Perinton, Penfield, Brighton, Henrietta and surrounding communities. Call 585-245-0134.

John Hunt

John Hunt

I am the owner of Caring Hearts of Rochester, LLC.

At Caring Hearts of Rochester, the well-being and genuine health of others is our greatest concern. We are committed to providing first-class person-centered care and services for our clients and patients so they may enjoy independence and relaxed comfort in their homes or residence of choice.

At Caring Hearts of Rochester, our caregivers are the most significant members of our team. They are devoted to delivering our service commitment to others.

We honor values of honesty, trust, integrity, respect and dedication. Caring Hearts of Rochester promotes a caregiving atmosphere where independence is supported, successes are attained, and a healthy culture of care is offered.

Caring Hearts of Rochester is built on a foundation of core values and dedication to client happiness, quality of life and peace of mind. Our commitment is to service excellence, personal growth, and accountability.

What makes our caregivers different?

Our top priority is excellence in care. So many businesses promise a commitment to excellence but don’t deliver. We believe our clients deserve better.
John Hunt