Payment Options for Senior Care

What Is the Cost of In-Home Care?

The actual cost of home care is determined by the type of services provided, the length of care provided, the frequency of care provided, and other factors. Have you and your family considered how you will pay for the care of a loved one? It may be intimidating to pay for long-term care once you've received a figure on care costs. However, the cost of care does not have to be the price you pay. If your loved one qualifies, there are numerous feasible options for home care funding.

Here is some information on the most frequent home care financing options:

Long-Term Care Insurance

If you believe you will require long-term care in the future, purchasing long-term care insurance may be a wise financial decision. Before selecting on the best policy for you, you should consult with a financial counselor to better understand the various policies and your possibilities.

Paying Out of Pocket

Paying for care out of pocket may be the sole choice for those who do not qualify for any of the other financing options. Many people utilize their investment earnings or life savings to pay for long-term care. Families also tend to pool their resources in order to divide the expenditures of a loved one's care.

While home care charges may appear to be too expensive at first, consider it an investment. You'll have peace of mind knowing that your loved one is safe, comfortable, and well-cared for. 

Veterans Administration Aid & Attendance Pension Benefit

Veterans who served on active duty for at least 90 days may be eligible for Veterans Administration benefits. Their wives may also be eligible. These advantages can assist to defray some of the costs of in-home care.

While home care charges may appear to be too expensive at first, consider it an investment. You'll have peace of mind knowing that your loved one is safe, comfortable, and well-cared for. To learn more, please contact us at (334) 749-8461 or click HERE to fill out our free form.