Ways To Pay for In-Home Senior Care: A Guide for Families
The vast majority of older adults want to age in place, in their own homes, as long as they can. However, aging, disability, illness or injury can make living at home a challenge. In-home care provided by professionals like Right at Home can be the answer for many families as their senior loved one starts to need additional support to ensure their well-being at home.
Two of the most frequently asked questions we hear are, “What does home care cost?” and “Does insurance pay for it?” The cost of in-home care depends on:
1
Geographic location
2
Number of care hours
3
Frequency of visits
4
Types of services needed
Ways To Pay for In-Home Senior Care: A Guide for Families
Funding Sources for In-Home Senior Care
There are several funding sources that you may be able to use to help pay for in-home care. In our Ways To Pay for In-Home Senior Care Guide, available above, we provide information on these funding sources to consider:
Out-of-Pocket/Family-Funded
Private Insurance/Long-Term Care Insurance
Long-Term Care Insurance Partnerships
Hybrid Life Insurance
Whole Life Insurance
Viatical Settlement
Mutual of Omaha Care Funding Solutions Program
Reverse Mortgages
Veterans Assistance Programs
Medicare and Medicaid
