Paying For Elderly Care At Home in Pittsford, NY
Navigating the financial aspects of elderly care at home is a critical concern for many families. Understanding the available options can alleviate financial stress and ensure that your loved ones receive the care they deserve. This is why Comfort Keepers of Pittsford, NY encourages families to have the discussion with their loved ones about financial assistance and out of pocket options.
Here's an overview of financial assistance and out-of-pocket options for financing elderly care. We are proud to offer an array of services that prioritize the comfort and well-being of your loved ones, while also being mindful of your budget. With flexible plans and personalized care, we strive to make caring for the elderly at home accessible and affordable.
Our agency can point you towards a number of options available when it comes to paying for care at home.
Give us a call at (585) 249-0100 to learn more!
Support for your family only takes
Financial Assistance Options
Medicare
Medicare Advantage, or Medicare Part C, are plans offered by private companies approved to be part of the Medicare network.
This includes non-medical related elderly care at home, though primarily for short-term services. This is a great option for seniors or caregivers who need respite care, post-operative rehabilitation, or other short-term assistance.
These plans can include extra benefits that are not covered under Original Medicare (Parts A, B, and D), including coverage for non-medical related elderly care at home.
Note that both Medicare Parts A and B are included in a Medicare Advantage plan, however, they’re only meant to cover short-term medical based services performed in the home after approval from a physician.
Find a Medicare Advantage Plan in your area.
Medicaid
Qualifications for Medicaid coverage as well as the benefits offered will differ from state to state. Any care provided outside of a nursing home is considered part of Home and Community Based Services (HCBS).
Understanding your state's eligibility requirements is crucial for accessing this assistance. This service is ideal for elderly patients with advanced medical needs or disabilities that require more extensive care. Comfort Keepers is here to help you navigate the Medicaid system and find the best options for your loved ones
Learn your states eligibility requirements and how to apply.
Veterans Programs
The Department of Veterans Affairs has several options available through their VA Health Care program to support the costs of long term care at home.
This program complements other health care coverage, including Medicare and Medicaid. This may be an excellent option for veterans and their spouses. It's important to consider the type of care needed and eligibility requirements when choosing this option. We are here to assist in understanding and accessing these benefits.
Learn more about VA Health Eligibility.
Out of Pocket Options
Private Pay
You can pay for elderly care at home through income, savings, and other investment options such as:
- Annuities
- Health Savings Accounts (HSAs)
- Individual Retirement Accounts (IRAs)
- Life Insurance
- Long Term Care Insurance
- Outside Investments
- Pensions
- Real Estate
- Social Security
Reverse Mortgage or Home Equity Loan
A Home Equity Conversion Mortgage (HECM) is specifically designed for seniors looking to take a cash loan against the equity of their home. The loan does not need to be paid back until the borrower(s) have either moved away or passed away.
A Home Equity Line of Credit (HELOC) is also based on the equity of your home, but functions more or less like a credit card with specific withdrawal and payment periods, as well as highly competitive interest rates.
Selecting The Right Options
It is important you consult family members or professional financial and life advisors when deciding the best avenue for your family. Each has their own pros and cons that are based heavily on your location, care needs, financial situation, and more.
You can explore our Resources section for more information on elderly care at home in Pittsford, NY.
For more detailed information on financing elderly care in Pittsford, NY, or to discuss your specific situation, please contact Comfort Keepers at (585) 249-0100. Our team is dedicated to guiding families through the complexities of elderly care financing, ensuring your loved ones receive the quality care they need. Let us help you navigate the financial options available and find a solution that works for your family.
Contact Us Today! (585) 249-0100
Additional Resources for Elderly Care Financing
In addition to our services, here are some additional resources that may be helpful in understanding and accessing financial support for elderly care:
- Aging Life Care Association (ALCA): This organization offers resources on long-term care financing, including a directory of care managers who can assist with financial planning.
- Eldercare Locator: A public service of the U.S. Administration on Aging, this resource connects seniors and their families with local agencies that provide information on available resources for elderly care.
- National Council on Aging (NCOA): This non-profit organization provides information and services to help seniors navigate benefits and assistance programs, including Medicare and Medicaid.
- AARP: This organization offers a wealth of resources for seniors, including information on financial planning and assistance programs for elderly care.
By utilizing these resources and working with our team at Comfort Keepers, you can ensure that your loved ones receive the best possible care without financial burden. We are here to support you and your family every step of the way. So don't hesitate to reach out and let us help you find a solution that works for your unique situation. After all, caring for our seniors shouldn't have to come at a high cost.
