Practical Ways to Afford In-Home Senior Care

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The costs of elderly care services can be expensive, and seniors often need to find ways to pay for in-home care as well as other long-term healthcare needs. If you have a senior loved one who needs in-home care, you’re probably concerned about how he or she can afford it. Finding high-quality care at an affordable price can be stressful. Thankfully, these practical solutions can ease some of the financial load. 

Medicare 

Although Medicare doesn’t cover the costs of nonmedical in-home care services, your loved one could receive financial assistance if his or her doctor deems the care necessary. A medical provider may say your loved one needs in-home care to receive help managing a chronic condition or while recovering from an injury or surgical procedure. Ask your loved one’s medical provider if in-home care is necessary, and request documentation to share with a Medicare representative.

If your senior loved one has been diagnosed with a serious condition and needs help with tasks like meal prep, transportation, bathing, and grooming, reach out to Assisting Hands Home Care, a leading provider of senior home care families can trust. We also offer comprehensive care for seniors with dementia, Alzheimer’s, and Parkinson’s.

Reverse Mortgages

Seniors who own their own homes can get reverse mortgages that allow them to cash in on the value of their homes. This process was originally developed for widows, but it can be a good alternative for single men and married couples as well. If your loved one takes out a reverse mortgage, he or she can then use the money to pay for in-home care. 

Veterans Benefits

Whether or not your loved one needs in-home assistance as a direct result of time served in the military, there may be benefits for veterans that can help him or her afford in-home care long after leaving the service. Contact a veterans association to find out more about how your loved one can benefit. 

Your loved one’s home care needs could vary according to his or her ability to accomplish everyday tasks. Aging in place can present a few unique challenges for older adults. Some only require part-time assistance with exercise or meal preparation, while others are living with serious illnesses and benefit more significantly from receiving more extensive home care. Cincinnati, OH, Assisting Hands Home Care are leaders in the elderly in-home care industry for good reason. We tailor our care plans based on each senior’s individual needs, our caregivers continue to receive updated training in senior care as new developments arise, and we also offer comprehensive care for seniors with Alzheimer’s, dementia, and Parkinson’s.

Insurance Policies

While it’s not often made obvious in the policies, many life and medical insurance policies cover in-home assistance when it’s needed. This option can help your loved one save money by using an insurance policy that’s already being paid for. 

Family Agreements

Some family caregivers are unable to be there physically, so they offer financial support to their elderly loved ones. These funds can be used for a variety of expenses, including in-home care. Schedule a meeting with family and close friends and disclose your loved one’s healthcare needs, giving a detailed breakdown of the costs, benefits, and current options. During the meeting, ask some of the attendees to commit to helping out with the financial costs associated with in-home care. This way, each family member can pay a certain percentage of the in-home care expenses, making it more affordable for your loved one. If someone is unable to donate money, ask him or her to pledge some time instead. The individual can come over and help with household chores, medication management, meal prep, running errands, and other aspects of caregiving. 

If you have a senior loved one who needs help maintaining a high quality of life while aging in place, reach out to Assisting Hands Home Care, a leading provider of home care service Cincinnati families can rely on. All of our caregivers are bonded, licensed, and insured, there are no hidden fees, and we never ask our clients to sign long-term contracts. If your loved one needs help with the challenges of aging, call one of our compassionate Care Managers today at 513-993-5025.