Posted by: options4care | February 9, 2010

Senior Care-Paying for Home Care-Lake County IL

In comparison to nursing homes and assisted living facilities, in-home care assistance is an affordable option. In the decision to place a loved one in a facility, families should inquire about the cost of in-home care services as well and compare the cost for all three. Make sure you fully understand the cost for each service and then you can compare the price. Not only does in-home care provide round the clock 24 hour live in care assistance, one important factor, in-home care offers one on one assistance for your loved one. The caregiver places full attention and is concerned with only your loved one’s needs. As opposed to nursing facilities and assisted living, how many caregivers are there per resident? Will your loved one receive one on one care and companionship round the clock if need be? For those interested in in-home care, the following are some ways to pay for home care services.

1. Privately paying for long term care means paying for care out of your own income, investments, savings and assets.

2. Long-term care insurance will pay for home care. This is the most appropriate and needed form of insurance protection available to us today.

3. Reverse mortgages have become one of the most popular and accepted way of paying for many different expenses including the cost of in-home care. Reverse mortgages are designed to keep seniors at home longer. It can pay for many other needs a senior may have as well.

4. VA Aid and Attendance Pension Benefit: The Veterans Administration has established a pension program whereby personal care and in-home care services may be paid for through your acquired pension. If you are a Veteran or the surviving spouse of a Veteran who has served at least 90 days or more on active duty and you are in need of assistance at home, you may be eligible for VA’s non-service connected disability pension. You can contact us for more information.

5. Government assistance  should be the last resort when considering how to pay for long term care. This type of assistance refers to relying on the Medicaid system. Medicaid will pay for long term care for seniors who cannot afford to pay for care themselves.
Some individuals choose to draw against their life insurance policy as well as a means to pay for in-home care but planning ahead is really the only viable option for families today. Long term care insurance is available to everyone. If your vision of your later years includes sitting at home in your own recliner, well you should be planning for that future with long term care insurance.
If you are in need of home support services, guidance or more information on resources visit us at:  http://www.heartsofgoldhomecare.com.

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