One of the biggest questions on your mind may be how to pay for senior care and in-home care.
There are many answers and options. We can help you figure this out – we provide this service too!
Hi, I’m Linda. I’m the Senior Care Manager here at Sunland. It’s my privilege to explain the options to consider for how to pay for senior care. Call us at 480-588-2650, we are the experts in helping!
Here are the options that I see our seniors and their families use to pay for care. Some of them you may not have even realized are available!
- Long term care plans (LTC)
Most major insurance companies provide long term care insurance plans, which are plans to help cover costs of senior care. It is a separate policy that you purchase like health insurance. While these policies can be wonderful, you need to be aware of some of the pitfalls within the policy. Be sure to really read the policy, and check to see if:
- There may be different qualifying periods. Some insurance companies do not begin paying right away. You may have to pay out of pocket for a period of time before they start paying for care. We can help you understand your policy.
- It’s important to note that when you are ready to qualify, some insurance companies send out their own nurse to conduct an assessment. Their nurse will complete an evaluation to determine if you are eligible for long term care benefits. To qualify, you must meet the qualifications of the insurance company.
- Pay yourself
Everyone has their own budget, and some people are able to plan for care later in their lives. Many of our clients have found that working with a financial planner helps them budget how many hours of care per week can be afforded. Contact a financial planner to see what you can draw on.
- Family pitches in
Sometimes family members are willing and able to help with the cost of care. You may feel funny asking, but we see families helping alleviate the cost of care all of the time. Families know the importance of having in-home care and how it helps the family as a whole.
- Reverse mortgage
A reverse mortgage loan, like a traditional mortgage, allows homeowners to borrow money using their home as security for the loan. While this option may have faced some stigma in the past, these days it is a more common practice and something we see here often.
- VA benefits
Veterans and their spouses are eligible for veterans benefits that can cover the cost of senior care. And, we have someone here on staff who will help you qualify for veteran’s benefits. Give us a call at 480-588-2650!
We know how you feel when it comes to figuring out how to pay for in-home care services. You have more options than you think. Call us today at 480-588-2650 for a free assessment and let us help!