Paying for Home Care: Some Options

Eldercare usually involves not just healthcare but money and legal matters, as well. That might include estate planning, getting legal forms such as advance health care directives and power of attorney for finances in place, and understanding the coverage and policies — such as Medicare and Social Security benefits — of the person in your care.

If home care is provided under Medicare, the cost of services is covered completely. Equipment is paid under Part B and is covered at 80%. Homemaker and aide services provided under state programs are generally covered at 100%. These programs generally have income qualifications. Very often only low-income seniors will qualify.

Another option for paying for this care is long-term care insurance. Most will cover a portion of home care that is provider for personal type care. Check the benefits carefully. Some companies have provided this type of insurance under retirement benefits.

It would be wise to contact your former employer to inquire if this benefit is available. The other option is to pay for the care provided from savings. Check with your Agency On Aging for information on any assistance available.