Payment Option

Helping You Understand Your Home Care Payment Options

What do Chicago home care services cost? How can I afford them? These are the two questions we hear most often when discussing in-home care. Although home care cost varies widely depending upon your need, Home & Hearth Caregivers’ services are more affordable than you think, and there are several payment options available to help you afford care for yourself or your loved ones. The following are the payment options that we accept:

  • Private Pay: Most clients pay for home care via private pay. Often, families use funds from a loved one’s retirement or pension to help them pay for care and, if needed, family members can chip in to help pay for services.
  • Long-Term Care Insurance: If your loved one has a long-term care policy, it may cover the costs of in home personal care services such as bathing, dressing, meal preparation and general housekeeping activities. Home & Hearth Caregivers can help you navigate your insurance options and determine if you qualify for long-term care insurance coverage.
  • Veterans’ Home Care Benefits: Veterans’ home care benefits may be obtained with the assistance of the Veterans Pensions Benefit Program. The program is intended to provide financial support to service men and women for non-medical in-home companionship care services. Home & Hearth Caregivers can help you determine if you qualify for these benefits!
  • Converting a Life Insurance Policy: If you have a life insurance policy, you may be able to use that policy to pay for home care services. There are options such as life settlements, which allows policy holders to sell their life insurance policies for its present value, or viatical settlements, which allow policy holders sell their life insurance policies to a third party and use the money received to pay for long-term care. If you have a life insurance policy and are wondering if you can use your policy to pay for home care services, contact Home & Hearth Caregivers and we will be happy to walk you through the conversion process.
  • Reverse Mortgage: A reverse mortgage is a special type of home equity loan that allows you to receive cash against the value of your home without selling it, and this cash can be used to pay for long-term care services. You can learn more about reverse mortgages here or contact our in-home care experts and we can help you decide which payment options are right for you.

At Home & Hearth Caregivers, we want to help you fully understand all your home care payment options so that you can make the best decisions for your loved ones. Contact us today and let us help walk you through all your options.