Paying for Elderly Services in Spartanburg and Boiling Springs, SC
What to consider when planning and funding elderly services in Spartanburg, Boiling Springs, or the surrounding areas of South Carolina
Many seniors need with help with day-to-day activities, which is why Comfort Keepers provides elderly services designed to meet the needs of your senior loved one. With the help of our trained caregivers, your senior loved one will age with dignity and maintain control of his or her life. If you have been wondering how you will pay for home care services, we offer several options.
Paying Out of Pocket
While there are several financial options available to seniors in need of adult home care, the majority of older adults in America have to self-finance this type of care. Obviously, many seniors are worried if they can afford home care. If your senior loved one is considering their options, the best way to determine whether in home care is a better solution than staying at a nursing home is to research their costs. In most cases, the cost of receiving care at a nursing home is much higher than receiving top-notch care at home, even when you take into account senior-proofing the home to make it a safer environment for a senior.
As for the exact cost of home care services, it depends on the type of care your senior loved one needs, as well as whether they require part-time, full-time or live-in care. If your senior loved one would like to work with Comfort Keepers of Spartanburg, SC, scheduling a free in home consultation is the first step toward developing a personalized care plan. Once we gain a better understanding of your loved one’s medical condition, living situation, and personality, we can propose a long-term care plan which focuses on increasing independence.
Long Term Care Insurance
Long-term care insurance also helps seniors cover the costs of elderly services. Depending on a policy, your loved one could have a waiting period before they can access their funds. Many policies have an elimination period. During that time seniors need to pay for their care on their own.
Be aware that premiums on long-term care insurance policies increase over time. Make sure your loved one understands any limitations or coverage gaps in their plan. They should know exactly what is and isn’t covered by their insurance policy before the purchase it. Policies define eligibility for benefits in various ways. Ensure your senior understands how their insurer defines activities of daily living and the disabilities that interfere with them.
Extended in-home senior care costs can easily drain one's finances. Opting for a long term care insurance plan can minimize the financial and emotional impact on your loved one’s budget. Unlike traditional health insurance, this type of insurance is designed to cover long-term services, lessening the impact a health care crisis can have on your loved one’s savings.
There is a vast array of options in regard to long term care insurance policies. Some policies cover specific types of at home care. Research what is covered and what is excluded and pay attention to the elimination period. This is better known as waiting time, lasting anywhere between 30 to 180 days, during which the covered individual will pay for his/her own care before benefits become available. The longer the elimination period, the lower the premium will be. Inflation is also something to consider, as it can significantly increase premium costs over time. Many plans offer inflation protection option that will protect your benefit amount from inflation.
If your loved one qualifies for Veterans Administration Aid it can cover some of the costs of elderly services. We encourage you to reach out to your local VA to get the process started and get any necessary documents in order. Once you have everything you need, we'll work with you and the VA to ensure you receive the care you need.
If your loved senior cannot afford long-term care insurance and doesn’t qualify for VA Benefits, paying out of pocket might be the only solution. The cost can vary. It depends mostly on the amount of care your loved one requires. If you are overwhelmed by the cost of home care for seniors, just remember that it’s a much more affordable solution than a nursing home.
To learn more about our services and the payment options available to you in Spartanburg, Boiling Springs, or the surrounding areas of South Carolina, please contact us today. We are available 24/7 to answer any of your questions.