3 Ways To Pay For Home Health Care For The Elderly

When you were 16, you purchased your first car with hard earned money scrupulously saved over the years. At 18 it was college tuition, then a wedding, a house, and kids. That hole in your savings account never seemed to patch itself up. Finally planning for your retirement years is in the immediate horizon. In your head you are thinking of vacations on a sunny Greek island, wine tasting in Napa Valley, the fine restaurants in town that you never had the luxury of trying out. Just when you start thinking that these dreams are tangible, you see that reality is your aging parents and that their needs will have to come before trips to Europe and Michelin Star restaurants.

Life expectancies in the United States average at around 80.1 years which is higher than it was ten years ago. Many can be expected to reach into the upper 90s depending on quality of health care. Below is a link to a life expectancy calculator where you can answer questions and see how you score. Many people who take the test find out that they are expected to live into their late 80s.

https://www.livingto100.com/

Some families discover that in order to keep Mom and Dad, or Grandma and Grandpa out of the often cold and sterile environments of nursing homes, they will have to move them into their own homes. The daunting implications of this fact can turn into nightmares when faced with the mounting bills and expenses that home health care entails.

SSI

Find out if you qualify for assistance with living expenses from this subset of Social Security. SSI, or Supplemental Security Income can provide additional assistance even if you are already receiving Social Security benefits. These benefits are for adults over the age of 65 who qualify. To find out if you do qualify there is an online screening tool at http://www.benefits.gov/ssa. This is not an application, it is a tool to find out if you qualify. You will not be asked for your social security number nor be given an estimate of benefit amounts.

Medicare and Medicaid.

Medicare is available for elders who were hospitalized and need professional care or therapy in the home. The good news is this financial assistance is available regardless of income. The bad news is that it is short-term. Medicaid is available for low-income elders who need in home nursing care. For assistance in navigating through the maze of in home health care there are many options available such as https://www.benefitscheckup.org/
State Level Demonstration Projects

Medicaid eligible elders can call 800-677-1116 to find out if their state offers programs that will pay friends or family to be trained and provide care in the home.

Long term financial planning and diligent research are facts of life in dealing with the challenging issue of in home elder care. But if keeping your loved ones out of a nursing home is important, then it will be worth it in the end.