Planning is something you may have been doing from an early age and particularly since early adulthood. Deciding which career option to follow, which path to take, where to settle down and possibly raise a family and how to afford to someday retire are some of life’s most planned ventures. Even small day-t0-day decisions can require some level of forethought. However, as we all find out, it can be hard to plan for the unexpected. Health issues arise, mobility limitations surface, injuries occur and before you know it the only place you want to be is in the comfort of your own home rather than in a facility while you recover or receive long-term care. Often with these unexpected life events comes unexpected expenses. There may be unforeseen costs associated with support at home as you may not have considered someday requiring in-home care services. This can leave you feeling anxious or uncertain about the future you had envisioned for yourself.
Determining how to pay for in-home care services can feel like an enormous task. For some, the following options may help:
- Veteran Benefits – If you and/or your spouse is a veteran of the United States military, you may be eligible to receive in-home care that is covered by VA pension benefits. Injured or disabled veterans may be eligible for benefits that cover costs of in-home care, so it is important to determine eligibility through the Department of Veterans Affairs.
- Long Term Care Insurance – Obtaining a policy through an insurance provider for in-home care can allow you to make monthly payments while you receive the care you need. This is separate from Medicare or other health insurances as most plans do not cover in-home care.
- Reverse Mortgage – The equity you have accumulated in your home can be sold back to the bank. The bank pays you monthly for this amount which can, in turn, pay for services you may require.
While these are only a few options one can consider, not every option is for every one. It may be beneficial to speak with someone regarding your options to determine the best solution for you. We at Aqua Home Care understand that the unexpected in life is inevitable. Should an event happen that leads you or a loved one to require support at home, know that we are here to handle the task of finding a trusted, compassionate caregiver best suited to meet your personal care needs. We believe there is enough to worry about when facing life-changing circumstances. Unease and worry can surface in light of the reality of requiring care and securing payment, and we do not intend to add to this stress. With experience and reputable resources, we listen, answer questions, make assessments, develop tailored care plans, match individuals with caregivers based on needs and personality, and continually follow-up thereafter.