Financing Private Home Care
When the time comes that we can no longer take care of ourselves or our loved ones, we definitely need to be prepared.
Life is a long journey and we should be ready for the years when bathing, eating, dressing up or even walking are no longer that easy.
Most families nowadays rely on caregivers or care providers to assist and take care of their elderly loved ones or family members who have special medical conditions.
However, most families also fear losing all their savings or finances paying for private home care services; that's why they choose cheaper options that in reality are not that comfortable for the patients themselves.
In truth, letting our loved ones stay at home and be taken care of there is a lot more beneficial for them.
They will feel much better physically, emotionally and psychologically.
The good news is that we shouldn't be scared nor should we hesitate in choosing private care for our loved ones as there are a lot of ways on how we can finance private home care.
1.
Medicare Medicare normally covers private home care expenses for a specific span of time.
Usually, when a patient has recently gotten out of a hospital or a long-term facility, Medicare provides financial assistance so that monitored care can be continued at the comfort of the patient's home.
However, one should take note of the requirements to avail of this benefit.
In most cases, the doctor's order for home care is necessary as well as other supporting documents.
Ask your local representative for detailed information.
2.
Medicaid Medicaid is just about the same as Medicare only that the former's qualifications or basis of eligibility relies on a patient's income rather than age and disability.
There are also other differences in terms of health coverage but Medicaid is definitely another good way to help you finance your private home care services.
Just also make sure that necessary documents are filed and the doctor's order is noted to apply for financial assistance.
3.
Social Security When you're getting Social Security benefits, you can set some of the amount aside to aid in paying for your home care.
You can supplement your Medicare and Medicaid coverage by letting your saved Social Security benefits pay for those expenses that are not covered by the first two.
4.
Long Term Insurance Most long-term insurance policies provide assistance for private home medical care.
Although coverage varies among insurance companies, you should remember that most of them has or requires a maturity or elimination period before you can avail of specific benefits.
5.
Veterans Benefits If you're a U.
S.
Armed Forces Veteran, you may actually qualify for a Disability Pension Benefit that you can use for your home care expenses.
This said benefit is mostly termed or referred to as the "Aid and Attendance Allowance".
You can use the internet to search for more information regarding qualifications or procedures on how to avail this benefit.
These are just some of the creative ways on how you can finance your private home care services.
Not every one of us may be qualified with all the options provided above but it doesn't mean that we should set aside our loved one's comfort and wellness for practicality.
After all, families can always pitch in and help each other for another loved one who needs the help.
Life is a long journey and we should be ready for the years when bathing, eating, dressing up or even walking are no longer that easy.
Most families nowadays rely on caregivers or care providers to assist and take care of their elderly loved ones or family members who have special medical conditions.
However, most families also fear losing all their savings or finances paying for private home care services; that's why they choose cheaper options that in reality are not that comfortable for the patients themselves.
In truth, letting our loved ones stay at home and be taken care of there is a lot more beneficial for them.
They will feel much better physically, emotionally and psychologically.
The good news is that we shouldn't be scared nor should we hesitate in choosing private care for our loved ones as there are a lot of ways on how we can finance private home care.
1.
Medicare Medicare normally covers private home care expenses for a specific span of time.
Usually, when a patient has recently gotten out of a hospital or a long-term facility, Medicare provides financial assistance so that monitored care can be continued at the comfort of the patient's home.
However, one should take note of the requirements to avail of this benefit.
In most cases, the doctor's order for home care is necessary as well as other supporting documents.
Ask your local representative for detailed information.
2.
Medicaid Medicaid is just about the same as Medicare only that the former's qualifications or basis of eligibility relies on a patient's income rather than age and disability.
There are also other differences in terms of health coverage but Medicaid is definitely another good way to help you finance your private home care services.
Just also make sure that necessary documents are filed and the doctor's order is noted to apply for financial assistance.
3.
Social Security When you're getting Social Security benefits, you can set some of the amount aside to aid in paying for your home care.
You can supplement your Medicare and Medicaid coverage by letting your saved Social Security benefits pay for those expenses that are not covered by the first two.
4.
Long Term Insurance Most long-term insurance policies provide assistance for private home medical care.
Although coverage varies among insurance companies, you should remember that most of them has or requires a maturity or elimination period before you can avail of specific benefits.
5.
Veterans Benefits If you're a U.
S.
Armed Forces Veteran, you may actually qualify for a Disability Pension Benefit that you can use for your home care expenses.
This said benefit is mostly termed or referred to as the "Aid and Attendance Allowance".
You can use the internet to search for more information regarding qualifications or procedures on how to avail this benefit.
These are just some of the creative ways on how you can finance your private home care services.
Not every one of us may be qualified with all the options provided above but it doesn't mean that we should set aside our loved one's comfort and wellness for practicality.
After all, families can always pitch in and help each other for another loved one who needs the help.
