Affordability is a common concern for families considering home care. Questions often arise about Medicare coverage, health insurance, Veterans benefits, and using assets like life insurance or home equity to cover costs.
At Bay County Caregivers, we specialize in navigating these complexities for families like yours, offering clear answers and support to help you make informed decisions. Here are some of the various options available to finance home care:
- Private Pay: Use savings, supplementary income, or family contributions.
- Long Term Care (LTC) Insurance: Check if your policy covers our services.
- Veteran’s Aid & Attendance Pension Benefit: Eligible veterans and spouses may receive up to $2,020 monthly.
- Whole Life Insurance Policies: Explore borrowing options against the policy’s cash value.
- State and Local Programs: Some areas offer funded care programs based on specific criteria.
- Reverse Mortgage: Consider if eligible as a homeowner aged 62+ with substantial home equity.