Funding Care for Senior Loved Ones in West Chester
Learn about the costs of care for senior citizens in West Chester, PA and surrounding areas
The costs of long-term care and home health care services vary by area, by the level of care required, and by the number of hours of care required. If you’re looking into the cost of long-term care for yourself or an aging loved one, there are several options that can help afford these costs.
The first thing you’ll need to know is what kind of care you need to pay for. If you don’t yet have a service or provider picked out, you should know that costs can vary across providers and programs. Make a list of what you need from a care provider, and try to get multiple quotes for services. You can also work with your insurance company to determine which services are covered, if applicable.
Medicare, Medicaid, long-term care insurance, Veterans Administration benefits, and other benefits can help pay for care for senior citizens and in-home health care; out of pocket payments are needed for portions of the cost that will not be covered. Knowing how much assistance you’ll need is an important first step to figuring out what your total costs might be.
Public insurance programs
Medicare and Medicaid are popular programs that help afford care for senior citizens across the United States. Medicare is generally not a long-term solution; it might cover a brief stay in a nursing home or hospice care for those diagnosed with fatal illnesses. Medicaid is the largest public payer for long term care. Medicaid generally covers nursing care costs not covered by Medicare, which may include home care for senior clients.
Both Medicare and Medicaid require an application into the program. Eligibility for these programs may vary from state to state, but generally, seniors with low or fixed incomes can participate in these programs. For those who don’t qualify, information on other public programs can be found through local agencies for the elderly.
Long-term care insurance
This is a personal policy, generally purchased prior to retirement, though you’ll continue to make payments on it through your retirement years. The purpose of long-term care insurance is to protect seniors’ savings and assets from unexpected medical costs or long-term care costs. Not all policies and providers are alike. It’s important to understand the policy before you purchase it. Ask if that particular policy covers in-home care, assisted living, nursing homes, or another kind of care for senior citizens. And ask if eligibility changes over time, or due to changes in health or lifestyle.
Veterans Administration benefits
You may be eligible to receive aid from the VA if you are a veteran or a spouse of a veteran. A veteran who has served 90 days of active duty (with one day during a period of war) or their surviving spouse may be eligible for a disability pension and other benefits that can help pay for care. Visit www.va.gov to learn more.
Out of pocket expenses
Portions of the cost of long-term care not covered by the benefits above will need to be paid for out of pocket. Generally, retirement savings, health savings accounts, pensions, and other assets are used to help afford care for senior members of the family.
For more information on the cost-effective care services provided by Comfort Keepers of West Chester, PA, contact us today.