How to Pay for In-Home Care

As your loved ones age, making sure they receive the care they need can become a top priority. In-home elder care is a valuable option that allows seniors to receive professional assistance while remaining in the comfort of their own homes. However, figuring out how to pay for in-home care can be challenging. At Family Choice Home Care, we're here to guide you through your options and help you make the best decision for your family.

Does Medicare Pay for In-Home Care?

One of the most common questions we hear is, "Does Medicare pay for in-home care?" The answer is typically no. Medicare only covers in-home health care when it is deemed medically necessary, such as skilled nursing or physical therapy, and even then, it's often short-term. Personal care assistance—like help with bathing, dressing, meal preparation, and household chores—is generally not covered.

Since Medicare doesn't usually cover non-medical in-home care, it's important to consider other ways to finance this essential support for your loved ones.

Exploring Payment Options for In-Home Elder Care

Here are several ways to manage the cost of in-home elder care:

1. Long-Term Care Insurance

Long-term care insurance can be a tremendous asset when it becomes time to pay for in-home care. This insurance is designed to cover services that Medicare doesn't, including personal care and assistance with daily activities.

When selecting a policy, carefully read the coverage details, as some plans have waiting periods or specific requirements before benefits are paid out. Be proactive by investing in long-term care insurance well before you need it.

2. Medicaid

Medicaid, a joint federal and state program, covers some forms of in-home care. Eligibility varies by state, but it generally serves low-income seniors who meet specific medical and financial requirements. In Kentucky, Medicaid offers programs that cover personal care services, but enrollment and qualification can take time. A potential client needs to be current with the Participant Directed Services Waiver Program (PDS). With PDS, the Medicaid recipient can select their provider.

Our team at Family Choice Home Care can help guide you through the application process and provide resources to navigate Medicaid benefits.

3. Veterans Benefits

If your loved one happens to be a veteran or the spouse of a veteran, they may be eligible for in-home care assistance through the VA Aid and Attendance Benefit. This program helps veterans and their surviving spouses pay for personal care services, including in-home support.

An order from a VA provider is written for homemaker and respite hours. Family Choice Home Care should be requested when the provider sends the order. The physician's order is then sent to the VA Community Health Program. The VA conducts an assessment to determine the number of weekly hours that will be approved for a six-month period. Hours can range from 4 to 18 per week.

Homemaking hours are used for personal care or housekeeping services. Respite hours are approved in a lump sum that can be used for any purpose in a 6-month time frame. Once the hours are used, they are gone until the next 6-month assessment is conducted.

4. Personal Savings and Investments

Some families pay for in-home elder care using personal savings, retirement accounts, or investments. While this approach can be financially demanding, it offers flexibility and immediate access to funds.

5. Reverse Mortgages

This option allows seniors (age 62 and up) to convert their home's equity into cash, which can then be used to pay for services. Keep in mind it's very important to fully understand the terms and long-term impact before proceeding.

6. Life Insurance Policies

Some life insurance policies allow for what's called an accelerated death benefit, or policy conversions, which enable you to access funds while the policyholder is still alive.

Trust Family Choice Home Care for Compassionate In-Home Care

Navigating the complexities of financing in-home elder care can be overwhelming, but you don't have to face it alone. Family Choice Home Care proudly serves Lexington, Richmond, Berea, Danville, Georgetown, Lancaster, Nicholasville, Mount Sterling, Winchester, KY, and all surrounding areas.

Contact us today and learn how we can support your loved one with high-quality, compassionate in-home care. Let us help you explore your payment options and get the assistance your family needs.