Continuing to live at home for a lifetime is the intent of nearly all seniors. Home is where we’re most content. It’s where memories have been and continue to be created. We’ve carefully designed our environment at home based on our individual tastes and preferences. And it’s where we have the liberty to make all of our own choices: from what and when to eat our meals, to what activities we engage in, to the people we spend time with.
If maintaining your home or taking care of everyday needs becomes difficult later in life, home care is often an excellent remedy. Senior in-home care allows for independent living so that an elderly individual or couple can remain at home with an ideal measure of support.
At Compassionate Nursing Services, our Chesterfield caregiving experts receive messages each day from older adults and their relatives who want to learn more about our senior care solutions, and one of the first questions is usually, “How do I pay for home care costs?”
There are actually several different methods to cover home care expenses. We are here to help you determine the best method for you.
Because senior care services are non-medical in nature, the most common method to pay for them is out-of-pocket. Consider these ideas:
- Talk with a financial advisor. Financial planners provide support on deciding which financial investments you can and should use to pay for home care services.
- Determine the value of any personal assets, such as collectibles, art, antiques, etc. that you might decide to liquidate.
- Ask a tax professional for help with establishing how much revenue you can gain from selling a piece of real estate, or whether to explore an equity credit line.
- Meet with other members of the family to go over splitting the cost for home care.
Veterans’ Aid & Attendance
The Veterans’ Aid and Attendance program helps wartime veterans and their spouses cover the expense of care in the home, when they meet the following criteria:
- An honorable or general discharge.
- Orders from a doctor confirming the need for support to manage daily activities of living.
- Specific financial requirements.
- 1 day of service that took place during an active war, as well as at least 90 days of service total.
Housebound benefits are another consideration for many veterans. This is an amount that’s paid over and above a veteran’s monthly pension plan. Requirements include:
- A single permanent impairment that is verified as 100% disabling, making the veteran permanently and substantially confined to the home; or
- A single permanent impairment that has been confirmed as 100% disabling, along with another disability (or disabilities) confirmed as 60% or more disabling.
Long-Term Care Insurance
Though Medicare and standard medical health insurance plans generally do not cover the cost for non-medical in-home care services, long-term care insurance policies often do. The criteria for using a long-term care plan involves a person’s inability to perform basic activities of daily living, such as taking a bath or shower, getting dressed, eating, using the bathroom, walking, and transferring from a bed to chair.
Compassionate Nursing Services’ Chesterfield, MO caregiving professionals are here to help you obtain any benefits to which you might be entitled. We will work with you to establish an individualized plan of care that fits a senior’s specific needs and budget. Call us at 314-432-4312 to schedule a complimentary in-home consultation at your convenience and to learn more.