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In-Home Care Funding
How do I pay for the care of a family member at home?
Most people do not realize, until in-home personal care is needed, neither their health insurance company nor Medicare will pay for this type of personal care. In the healthcare field, services are divided into two main categories, Medical Care and Non-Medical Care. Non-Medical Care is defined as Activities of Daily Living (ADLs), which include help with bathing, dressing, meal preparation, medication reminders, etc. Many times elders and families must pay for these services out-of-pocket if they wish to avoid placement in a nursing home. Making decisions about home healthcare can be overwhelming and costly. The following are several options that may help with funding for non-medical care.
If you included Long Term Care Insurance (LTC) as part of your financial planning, a large portion of the cost may be covered. These policies are designed to pay for non-medical care. Unfortunately, only a small percentage of individuals have purchased LTC insurance. If you have a policy in place, contact the office so we can help with the details.
Some Health Maintenance Organizations (HMOs) provide coverage for non-medical home healthcare but this is far from common. If you are in an HMO, you may want to contact your insurance provider to see if coverage is included on your policy.
Low-income individuals may qualify for some financial help through a federal and state funded program called Medicaid, not to be confused with Medicare. Individuals with limited income and assets may qualify for help through this program. The application process can be difficult and may take as long as 6 months. The number to determine if you are eligible is 843.529.0142.
Military Veterans or their spouses may be eligible for benefits through the VA. For more details and to determine if you are eligible to apply contact Cynthia Busby at 843.832.0050. The application process with VA may take 1 to 3 months.
Trident Area Agency on Aging (843.554.2275) and The Alzheimer’s Association (843.571.2641) award grants to primary caregivers of individuals that will help with respite care. There is an application process and grants are awarded in a few days in some cases but may take a few weeks. Funds are limited and the grants are provided on a case by case basis.
Hospice Companies may provide some grant monies. If the individual’s doctor has ordered hospice care, the hospice company may be able to access grant money that could be used for help with care for ADLs
Reverse Mortgages are provided to consumers by many financial institutions. The homeowner may remain in the home while accessing the equity to help pay for healthcare and other cost. There is no monthly payment to the homeowner for this type of mortgage product. Contact us 843.832.9888 for detailed information.
AllCare Living Services can help with all of the funding sources mentioned. Please contact us so we can ensure you have considered all available options and are making an informed decision.
All Ages. All Stages. AllCare Living Services 1675 North Main Street, Suite 105-B 2817 Maybank Highway, Unit #1 Summerville, SC 29483 Johns Island, SC 29455 843-832-9888 843-832-9888
