Affording Senior Care at Home in Brentwood, TN
Learn about the different payment options available in Brentwood and the surrounding areas for senior care at home
If you and your family are building a care plan for an aging loved one, one of the most pressing concerns can be affording it. There are many options that can help pay for home care for seniors. Medicare, Medicaid, long term care insurance, Veterans Administration benefits, and out of pocket payments are all common ways of paying for care.
You should also consider the type of care needed, as this can have a drastic impact on cost. Live-in facilities, especially those with specialized services, are more expensive. Senior care at home can help your loved one remain in a familiar environment while maintaining their independence, and can be a cost effective solution for many seniors and their families.
Medicare covers a narrow range of costs and is usually not a solution for affording extended care. It may help in the short term or in emergency situations. In some cases, Medicare covers up to 100 days of nursing home care or hospice care. There may be restrictions, and you should review your benefits before using them to pay for care over a significant amount of time.
Medicaid is the largest public payer for care, and many seniors use it to afford services. Those with limited income, or those who receive Supplemental Security Income, are likely to qualify for Medicaid benefits. Medicaid may cover nursing care costs not covered by Medicare, and may also include coverage for senior care at home.
Long term care insurance
This specialized insurance is designed to protect savings and other assets as a senior ages and pays for long term care. The premiums increase with age, and the insurance product may be expensive. Long term care insurance is generally purchased before retirement and you will continue to pay on the policy after your retirement. Not all policies are the same; if you have long term care insurance, confirm your coverage with your insurance provider.
Veterans Administration benefits
VA benefits apply to veterans who served at least 90 days of active duty, with one day during a period of war, or the surviving spouse of a veteran who met those qualifications. There may also be a disability pension available to help pay for care. Check your eligibility at www.va.gov.
Out of pocket expenses
Costs that are not covered by insurance programs and policies will result in out of pocket expenses. Many seniors use retirement savings, health savings accounts, and other assets to afford long term care. Note that costs for specialized care, like dementia or Alzheimer’s care, might result in additional out of pocket expenses, and facilities that provide such care are often more expensive generally. Receiving senior care at home can be cost effective, while ensuring that the daily needs of a senior are met.
If you’re ready to learn more about the costs of senior care at home, call (615) 942-0111 or contact the friendly staff at Comfort Keepers of the Brentwood, TN area for information about our services and how we can help your family.