Payment Options For Home Care-Senior Moments with Kate

Paying for home care is costly for elderly adults and much of the time comes out of pocket. Medicare pays for home healthcare in specific instances; there are Veteran's benefits through Veteran Aid and Attendance; and there is long term care insurance that will cover home care costs.

As we live longer, the need to be able to finance our lives becomes a big consideration. Social security and Medicare don't cover all of the expenses anymore. And with 9 out of 10 seniors desiring to age in their own home, having help to subsidize the costs becomes important.

What are the options?

Medicare: This only pays for skilled nursing visits and physicial and occupational therapy at home. They also pay for some medical equipment like shower bars and walkers. The home health care provided is usually short term and the recipient must show continued improvement.

Long Term Care Insurance: This is a great investment to make for yourself as these dollars can be used to pay for home care help and other medical expenses. Personal care and activities of daily living like grooming, dressing, feeding, and toileting are covered through this insurance. There is usually a waiting period-up to 3 months-before the benefits kick in which you are personally responsible for paying for. Once the benefit does come, you are allotted a certain amount daily for your costs.

Veteran Aid and Attendance: For veterans who served even one day during a time of war and their spouse, these benefits may not cover all of the home care costs but they wil definitely defray them. It takes up to a year sometimes for the benefits to be approved, but once they are, the government retroacts teh payment back to the filing day so the recipient isn't out any money.

Private Pay: Unfortunately, it can be hard to get private insurance to pay for home care. This results in the payment source being you. Home care agencies will work with you to help you find the hours you need to meet your needs and control your costs.

Be sure to ask all of your questions so that you can make the most informed decision. And always be your own healthcare advocate.