Secaucus, New Jersey
58 Harmon Cove Tower Suite 58, Secaucus, NJ 07094
(201) 771-1908
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Paying for Care

Comfort Keepers In-Home Care in Secaucus, New Jersey.

Comfort Keepers Affordable Senior Home Care NJ Can Advise on Planning and Funding Care

The cost of long-term care for seniors varies as much as the types of care available. Comfort Keepers offers affordable senior home care NJ seniors rely on in Secaucus and nearby areas.

Comfort Keepers Affordable Senior Home Care NJ reviews some standard funding options for senior housing and long-term care services in this article. Senior care can range from a few hours a week of personal care or companionship from an in-home care provider to full-time care at home to skilled nursing care in a nursing home. Want to learn more? Call us at (201) 771-1908.

Do Your Homework

Many who have not researched mistakenly believe Medicare is the answer for long-term care. In reality, it covers only a very narrow range of costs. You must understand the benefits and limits of Medicare ahead of time so you adequately prepare for senior care needs.

Although rates vary, LongTermCare.gov estimates costs for care at a nursing home at over $6,000 per month. Care inside the house is generally far less expensive, but prices vary greatly, depending on where you live, the level of care, and the hours of service required each week. How will you pay for long-term care? Comfort Keepers Affordable Senior Home Care NJ outlines the differences between the different ways of paying for care below.

Medicare

As mentioned, Medicare applies to long-term care in very limited circumstances, such as immediately following a hospital stay. Medicare may also short-term, physician-prescribed home healthcare for skilled nursing; physical, occupational, and speech therapy; medical social services; and assistance with bathing, feeding, and other personal care. Medicare does not pay for extended care. Medicare may also cover a limited number of days of nursing home care in limited instances, and it can help cover the cost of some durable medical equipment for home use. It also may cover hospice care for people diagnosed with terminal illnesses and a life expectancy of six months or less. Most private pay in-home care providers, including Comfort Keepers of Secaucus, NJ, do NOT accept Medicare.

Medicaid and State Programs

Medicaid, the largest public payer for long-term care, may (if you qualify) pay for consideration at a nursing home and other costs that Medicare does not cover. It may also cover some in-home care in very limited circumstances, but that care is only provided by certain providers that contract with Medicaid. Most private pay in-home care providers, including Comfort Keepers of Secaucus, NJ, do NOT accept Medicaid. Those who receive Supplemental Security Income (SSI) may qualify for Medicaid automatically. You could also be eligible if you have limited income and assets.

Eligibility guidelines vary, and assets considered for eligibility generally do not include homes, cars, household furnishings, or burial plots. Sometimes, you may still qualify if your income exceeds the eligibility level. And sometimes, seniors may be eligible for Medicaid after they have spent their income and assets on nursing homes or other healthcare expenses. This is commonly referred to as the Medicaid “spend down.” Older adults who do not qualify for more extensive government programs like Medicaid may find they qualify for state programs. Information on these can be found through the New Jersey Division of Aging Services.

Long-Term Care Insurance

Long-term care insurance helps seniors pay the costs of long-term care, preventing the depletion of life savings for extended care. However, coverage is expensive. Premiums increase with the age of the purchaser. According to The Wall Street Journal, a 55-year-old single adult can expect to pay $2,065 a year for $162,000 in benefits with 3-percent compound inflation protection (this increases your benefits to compensate for inflation).

If you earn ample income, premiums can be affordable, but you need to make sure you can still pay the premium after you retire. And even if you can, you may not be able to justify the expense if you have the resources to pay for care out of pocket. Your financial planner can help guide you in this decision. Comfort Keepers Affordable Home Care NJ advises that not all long-term insurance policies are created equal, so know what you are buying.

  • Know up front to what degree premiums may increase over time. Also, be aware that premiums vary by the number of years covered under the policy.
  • Some policies cover only specific types of long-term care, while others cover a variety, such as nursing homes, assisted living, or in-home care.
  • Lifetime coverage can be costly. 
  • Many long-term care policies have an elimination period — a waiting time during which the covered individual must pay for his own care. The longer the elimination period, the lower the premium.
  • Know what percentage of daily care costs your policy will cover, and realize that inflation will increase the costs. Inflation protection is commonly sold as a rider for long-term care insurance.
  • Policies vary in how they define eligibility for benefits. Some plans, for instance, state that a senior qualifies when she can no longer perform certain defined activities of daily living.

Comfort Keepers of Secaucus, NJ accepts most private Long Term Care Insurance plans.

Veterans Administration Aid and Attendance Pension Benefit

Veterans and their surviving spouses may qualify for Veterans Administration (VA) benefits to cover some of the home care costs. A veteran or a surviving spouse of a veteran who served at least 90 days on active duty with one day during a period of war may be eligible for the VA’s non-service connected disability pension.

Comfort Keepers of Secaucus, NJ currently cannot accepts benefits paid through the Veterans Administration.

Paying Out of Pocket for Long-Term Care

Seniors and their families must often tap into savings and assets to pay for long-term care. Many cannot afford long-term care insurance, many do not qualify for Medicaid, and Medicare coverage is minimal.

The cost of care will depend significantly on the amount of care the senior requires. To get an idea of the expense, research nursing home costs in your area of New Jersey, then calculate the total for a four-year stay. But actual costs cannot be predicted, as persons with Alzheimer's disease or other forms of dementia often need care for many more years. In comparison, in-home care expenses are usually much less. You can find out by researching costs in your neighborhood. In doing so, you may also need to get estimates of the cost of home adaptations to help you stay in your home.

Comfort Keepers of Secaucus, NJ accepts private-pay for our in home care services.

The Financial Impact of In-Home Care

At first glance, the cost of professional in-home care may look greater than it truly is. That is until family caregivers honestly consider the value of the time and financial sacrifices made to care for a loved one.

If you are a family caretaker, you understand that the responsibility requires a considerable amount of your time and attention your loved one deserves. As a care specialist, you get phone calls at all times, day and night. You coordinate transportation to and from medical appointments, grocery shopping, and other errands. You have another home to clean. You are the one who helps pay bills, provides companionship, and takes care of other tasks as needed. And you do this in addition to your other responsibilities, such as your job and family. To accomplish everything that needs to be done, you may have to reduce your hours at work. Maybe you have cut back to part-time employment and passed up a promotion.

Consider Everything

These lost opportunities have a real impact on your financial situation now and in the future, specifically when it comes time to retire. Considering these lost opportunities, look at the quotes you have been given to hire a professional care provider. With this in mind, the cost of having a qualified and insured home care agency assume caregiving tasks does not seem that high. When you work with a reputable in-home care agency like Comfort Keepers of Secaucus, you will still be in charge of the care your loved one receives. You just will not be responsible for the time-consuming, day-to-day caregiving responsibilities.

Make the Call to Our Office in Secaucus, NJ

If you have been avoiding it, now is the time to work with Comfort Keepers Affordable Senior Home Care NJ. You may find that allowing others to do the job is a wise financial decision. Do you have more questions about the positive impact of home care on your life? Contact Comfort Keepers Affordable Senior Home Care NJ today at (201) 771-1908 for answers.