In Home Care Costs – Affordable Options
Do the prospects of excessive in home care costs concern you? Seniors and their families often fear not having enough money, or enough of the appropriate insurance coverage, to cover all of the care they may need in their final years. And along with that, a secondary looming fear can be that all of their savings– even their home– may have to be relinquished in order to pay for hospitalization nursing home or in home care. Close family members may also fear having to use up their own resources in caring for their loved one. Often, this comes at a time when they are sending children off to college or saving for their own retirement.
Becoming informed on the many care options, their true costs, and the funding programs that are available can dispel many of these fears. This information will help you develop a plan for your loved one and may even improve your peace of mind.
The Most Affordable Senior Care Option May Actually Be The Best One
The more pleasant looking senior living centers can be so very expensive that many people are left feeling that they won’t be able to afford anything but the most depressing of nursing homes. Often, in trying to avoid the attending guilt of placing a family member in an “affordable” place, many people will choose to take on the entire caregiving burden themselves. They may choose to do it either alone, or they may choose to share it with another relative. After a few weeks or months, though, many who decide on going this route, will find they are unable to fully care for themselves. They may also find they are unable to give enough attention to their other family members and friends. However, engaging a part-time professional caregiver to come to your senior’s home can provide you with much needed emotional and even physical relief. And it can also be quite cost effective.
It may surprise you to know that in home care costs, using a part time professional, is only a fraction of the most basic nursing home expense. In-home care can be the far superior option for providing the quality assistance your senior needs, while allowing them to stay where they are the happiest– in their own familiar home. Having a part-time caregiver can also provide you sufficient relief from the caregiving burden and do so without removing your opportunity to be intimately involved in your senior’s daily life. It is, in fact, the single best plan for sharing those last years and months and months with them.
In-home caregiving can be very flexible which can make the in home care costs even more affordable. You can schedule your service for different times and days to fit your own unique needs. The service can be for as few or for as many hours per week as you need, and you can even call for help at unanticipated times. Since you are in control of the hours, you are in control of the cost. Depending on your needs, you can have caregiving help in the home at a cost of anywhere from a relatively few dollars for a couple of hours of service to several hundred dollars per week for longer periods of time.
There Are Some Programs That May Cover The In-home Care Costs
The Federal Long Term Care Insurance Program (FLTCIP) is a program specifically for retired or disabled government employees, and sometimes their relatives. If qualifications are met, in-home care is covered. This most important benefit is overlooked by many families with Veterans or surviving spouses who need additional monies to help care for ailing parents or loved ones. This is a “Pension Benefit” and IS NOT dependent upon service-related injuries for compensation. Aid and Attendance can help pay for in home care. A Veteran is eligible for up to $1,788 per month, while a surviving spouse is eligible for up to $1,149 per month. A Veteran with a Spouse is eligible for up to $2,120 per month and a Veteran with a Sick Spouse is eligible for up to $1,406 per month.
Depending on your loved one’s previous career and employer, they may have health insurance extending into retirement which may cover in-home care. Or your loved one could qualify for a state-subsidized insurance plan. Many insurance companies, as well as many regional governments, are realizing more and more that in-home care is by far the more affordable option than nursing homes.
Medicare will pay for some kinds of in home care costs including skilled care for certain amounts of time and under certain conditions. By making sure that you use services covered by Medicare when your loved one qualifies for them saves personal funds. Also, if your older family member requires special care after hospitalization, Medicare may cover another period of skilled service providers.
It can depend on what state you live, but insurance or government assistance that will not pay you to actually care for a loved one will instead pay for a licensed or professional in-home caregiver. This may seem unfair, but getting this respite care will help you take good care of yourself both emotionally and financially. Some of the financial benefits may come simply in the time that it frees up for you to earn income.
Private Long-Term Care Insurance can be purchased and this would pay for any kind of in-home caregiver needed. If you foresee your ability to care for your loved one coming to an end at some point, now is the time to investigate long-term
If your loved one has been diagnosed as terminal, Hospice care will provide you with a range of assistance, either free of charge or for nominal fee.
How To Save Time In Search For Affordable Care
If you don’t have a lot of time to research all your options on your own, you can save time by talking with a professional who is already immersed in health care, home care, insurance, and other funding programs. There is almost always a way to get some form of affordable help.
You can work with a Senior Advocate whose job it is to find and coordinate options that work for you, or you can arrange a free consultation with an Oakbrook IL senior care expert from Home & Hearth Caregivers. We are always happy to talk with you about your personal situation and what care options might work best for you. We can even help you determine if you qualify for any type of government or private insurance to pay for an in-home caregiver.