8 Ways to Pay for In-Home Care

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ComForCare Home Care

For more information about the author, click to view their website: ComForCare Home Care - North Colorado Springs

Posted on

Nov 02, 2023

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Colorado - Colorado Springs

These days, thanks to modern medicine, people are living longer and longer. The majority of people will require long term care at some point in their lifetime. Many of these seniors prefer to age in place and stay in the comfort of their own homes, but they and their families may worry about the associated costs. Below we address how to plan for in-home caregiver cost.

In-home caregivers cost less than you think, especially when compared to nursing homes and other assisted living facilities. Exact in-home care costs vary based on factors like your location and the levels of care needed. There are multiple avenues of financial assistance like life insurance policies, Veterans benefits, or a reverse mortgage. Community-based services can also help families pay for home care and home health services for the older adults in their lives.

As you develop a long-term care plan for yourself or a loved one, several factors must be considered, such as one’s current and future medical needs, family support system, and budget. Since 90% of people 65+ want to stay in their homes for as long as possible, in-home care is a popular option. As your loved one’s needs change over time, ComForCare works with you to make changes to the schedule and routine.

Do you need help paying for home care? To find out more about the ComForCare pay schedule and costs or meet with some of our compassionate in-home caregivers, reach out to us now.

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How much does in-home care cost?

Since 2004, senior care cost (both in-home care and at senior living communities) has steadily increased, averaging 1.5-3.8% per year. In-home elder care costs depend on where you live as prices can vary greatly by market. According to Genworth’s 2021 Cost of Care Survey, the median price for a home health aide is $26 an hour in the U.S. (Note: rates vary by location, hours a week, and types of care; please contact us to inquire about home care pricing in your area.)

At that rate, it would cost about $50,000 per year for 40 hours of in-home care a week. To compare, the average cost for a semi-private room in a nursing home is $89,292 a year.  

Paying for care at home – what are my options?

In-home care, homemaker services, and other personal care services are typically paid for out-of-pocket. However, that’s not always the case. Here are eight other ways you may be able to cover long-term care costs and make in-home care payments:  

  1. Long-term care insurance is a supplemental policy purchased through a life insurance company. Long-term care insurance reimburses policyholders a set amount per day for home care services. It's vital to know your insurance coverage options and life insurance benefits inside and out. Contact your private health insurance or life insurance policy provider to see if this is an option for you.

  2. Veterans Pension provides a home care allowance to qualifying veterans and their surviving spouses. Visit http://www.benefits.va.gov/benefits to learn more about the assistance available from the Department of Veterans Affairs.

  3. Catastrophic auto insurance acts as a personal-injury protection or “no fault” insurance, which can cover home care expenses.

  4. Workers’ compensation may cover home care costs associated with an illness or accident on the job.

  5. Reverse mortgages are available to people 62+ who own their home. The funds can be received in monthly installments or a lump sum. Check with your or your loved one’s bank for eligibility requirements, terms, and conditions.

  6. Medicaid may cover home care services and nursing services through a waiver program, which varies by state. The waiver programs are often coordinated through Area Agencies on Aging. Contact us to see if we participate in a waiver program. It’s important to note, Medicare does not pay for long-term home care services. Medicare covers short-term home health care prescribed by a physician. These services include skilled nursing, physical therapy, occupational therapy, and speech therapy. Assistance with bathing, feeding, meal preparation, and other personal care may also be provided while a person is receiving home health care and support with the tasks of daily living.

  7. Area Agencies on Aging provide a variety of services (including in-home care) to adults 60 and older. Services provided through local agencies are determined by performing a community needs assessment and vary by location. To find your local AAA, go to www.eldercare.gov and search by your ZIP code or call 800-677-1116 to speak with a specialist.

  8. Family funds can be set up among siblings and other family members to cover the cost of home care for an aging parent or relative. Be sure to clearly spell out the terms of the agreement and consult an elder law attorney for guidance.

Provide Relief for Family Caregivers with Quality In-Home Care from ComForCare

Paying for in-home care services is just one part of the long-term care process. Check with your or your loved one’s insurance about coverage or contact us for a free insurance eligibility verification. At ComForCare, we can connect you with resources and programs that can help ease the financial burden of in-home care.

If you have additional questions or would like to schedule a complimentary in-home consultation, call 800-886-4044 or find a ComForCare Home Care location for affordable home care options near you.

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When it comes to caring for an older person, someone leaving hospital, or someone who has a disability, it can be difficult to know what resources are available to you. You may wonder if your loved one needs to enter a rehab facility, hospital, or nursing home or if they are eligible for home care services, allowing them to stay in familiar and comfortable surroundings.At ComForCare, we offer a range of flexible home care services to meet the needs of many people who could use a helping hand. If youre interested in learning whether home care could be right for your family, read on for some of the many ways we offer support in the home.In-Home Senior CareHome Care is a service that provides support for the day-to-day activities of living. Older adults who need a helping hand to stay on top of household duties, personal care, meal preparation, and similar activities are great candidates for home care services. An in-home caregiver can help older adults maintain their independence in the comfort and safety of a familiar space. Nearly 90% of adults over 65 want to age in place, staying in their homes and communities as long as possible. With in-home elderly care services, that dream can be a reality for many.Transitional CareWhen a loved one is moving from a hospital, rehabilitation center, or skilled nursing facility to home, providing a safe transition is crucial. Seniors are at an elevated risk of hospital readmission and other hazards after hospitalization. In fact, people ages 65 and over account for about 56% of 30-day readmissions after discharge from care facilities.  Transitional care, otherwise known as short-term services, can help support seniors during this critical time. ComForCares professional caregivers are advocates for their clients health, and they can:Assist with personal care, such as bathing and groomingHelp implement discharge instructions from doctorsPick up prescriptions and provide medication remindersHelp schedule and attend follow-up medical appointmentsReduce fall and injury risks with home safety recommendationsRespite Care & Short-Term CareSometimes, older adults who live at home receive the care they need from family members. While this arrangement can be wonderful, it can also be taxing on their loved ones. Up to 35% of family caregivers rate their health as fair or poor, which can lead to burnout. To ensure that you are providing the best possible care for your family member, you need time to take care of yourself!  Thats where respite and short-term care come in. Hiring a professional caregiver temporarily can give you the time you need to recharge, refresh, and resetwhether for a weeks vacation or just a weekend break. This service can also help provide a fresh perspective so you dont have to feel alone in the care and keeping of your loved one.Disability ManagementThough in-home care is most often associated with seniors, many adults with disabilities also need compassionate, hands-on care. Whether your loved ones disabilities are physical or cognitive, institutions cant always provide the kind of personalized one-on-one care that your family member needs.Advocates and researchers have seen the positive impact that home and community-based services make in the lives of people with disabilities. At ComForCare, our disability management services can help make that difference in your family members life. We provide care services including, but not limited to:Light housekeepingHelp with hygiene and incontinence careMeal preparationTransportation assistanceAlzheimer's and Dementia CareMany people believe that once an older person is diagnosed with Alzheimer's disease or another form of dementia, they cant live at home anymore. However, with ComForCares unique approach, DementiaWise, we can give older adults the freedom to remain at home as long as possible. With flexible scheduling, personalized care, and meaningful activities that keep your loved one engaged, calm, happy and utilizing their remaining abilities, you can rest assured that your family member is living their best life, physically and mentally.Find the Best Home Care ServiceNow that you know who a good candidate for home care services is, its time to find the best team to look after your loved one. At ComForCare, we continually strive to provide the most compassionate, consistent and competent care to those who need it. With flexible care options suited to each individuals needs, well care for your loved one like family. ComForCare: Long or Short-Term Home Care with Joy and Dignity. If you have any questions, please call 720-575-5576.

How to Get Your Parent to Accept Help at Home

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Home Care vs. Home Health Care: Whats the Difference?

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Local Services By This Author

ComForCare Home Care - North Colorado Springs

Non-Medical 7608 North Union Boulevard, Colorado Springs, Colorado, 80920

ComForCare Home Care - North Colorado Springs

Home Health 7608 North Union Boulevard, Colorado Springs, Colorado, 80920

If age, illness, or accident is threatening your loved ones independence call us. We can provide the exact amount of personal home care services your family needs to help them live the best life possible, for the longest time possible - at home.Our private-duty nursing services help people of all ages who need a higher level of care due to physical restrictions, illnesses or chronic medical conditions. During the initial visit, our registered nurse (RN) will complete a comprehensive RN assessment with you and your loved ones, including an in-depth review of all the medications you are currently taking. The RN will then assist in developing a care plan along with your input that is specific to meet your needs.