The cost of receiving in-home personal care varies, depending on the amount of care and level of services you or a loved one needs, as well as where you live, and if your home is located in an urban or rural environment. Regardless of physical location, the cost for receiving our in-home care services are much less than you would likely think at first. When you consider the high expenses associated with assisted living, or the big bills that follow trips to the emergency room (which are often preventable if home care services are being rendered) you start to see that home care services is actually one of the most affordable options out there. Data released from the 2015 Genworth Long Term Care Cost survey also seemed to indicate and suggest that home care services are indeed often the less expensive option. Considering the hard and soft costs home care services can replace, and the value each Beam personal service assistant provides to a client’s overall well-being and safety, the cost of home care services is actually quite reasonable.
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Because home care services typically provide non medical assistance, it is usually considered a private pay resource. That said, there are several options you can turn to for assistance with paying for in-home care:
Some long-term care insurance policies cover certain in-home care services, and we work with many long-term care (LTC) insurance companies to bring you the covered services you need over the short or long term. Check your policy to see if it provides coverage for the level and type of care services you need. In addition, some life insurance policies also can be converted into cash for help with paying for home care services.
Many seniors and their families rely on personal assets, and each other, to help pay for home care services. There are several other options as well that family members may be able to tap into -- such as reverse mortgages, a Flexible Spending Account (FSA), an Employer-sponsored Health Savings Account (HSA), or even family trust funds.
If you or your senior loved one has low income and very few assets, there are a few public benefit programs, such as Medicaid, Medicare, PACE, and Cash and Counseling, which may, under special circumstances, be able to offer at least some assistance with paying for a limited amount of care.
For veterans who need long term help with the activities of daily living, The Veterans Administration will, in some instances, help by providing financial benefits and incentives. Veterans must have had an honorable discharge, and must have also served at least 90 days of active duty during a wartime period.
In addition, spouses of veterans may also be entitled to "aid and attendance," a monthly disability payment program established by the VA, that may provide some assistance in paying for in-home personal care services.
If you have questions about what your financial options are for affording personal home care services, give us a call. We will be happy to discuss your options with you.
Beam - Phoenix
7211 N 7th St
Phoenix, AZ 85020
Beam - Bellevue
13350 SE 26th St,
Bellevue, WA 98005
Beam - Surprise
18510 N Parkview Pl
Surprise, AZ 85374
Beam - Olympia
700 Black Lake Blvd SW,
Olympia, WA 98502
Beam - Puyallup
4502 6th St SE,
Puyallup, WA 98374
Beam - Vancouver
13303 SE McGillivray Blvd, Vancouver, WA 98683
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