One of the most challenging aspects of providing home care for you or your loved one is to determine your best payment options. For guidance, feel free to contact us directly and an Adult Home Health Care representative will be happy to walk you through all of your available options. We strive to provide you with the highest-quality of care at competitive home care rates. Some Common Sources Include:
Long Term Care Insurance
Most long term insurance plans cover in-home care. We are happy to assist you in reaching out to your insurance provider to better understand your coverage levels and what needs to be done in order to begin services.
Life Insurance with Living Benefits
A Life Insurance policy can be converted into a Long Term Care Benefit Plan in as little time as 30 days to start making monthly, tax-free payments directly to the care provider of choice. If you or your loved one has a life insurance plan, the policyholder may be able to collect benefits while alive to pay for in-home care. Check with your insurer to see if this is available, or Adult Home Health Care can assist you with this.
If you or your loved one is terminally ill and requires in-home care, companies exist that will purchase your life insurance benefits and in exchange, pay the policyholder a cash settlement. If this is a scenario you are interested in exploring, Adult Home Health Care can provide names of companies that purchase these kinds of assets.
Out of Pocket Savings
It is often challenging to obtain private insurance coverage for in-home care, assisted living or nursing home services. The good news is that Adult Home Health Care is so much more affordable than the alternatives, that many people in need of help have no problems paying for our service out of pocket.
A reverse mortgage is a wonderful way to pay for long term home care services. It utilizes your home’s equity giving you an additional source of income from a bank or a lender; paying you a lump sum or in monthly installments. You will not have to repay the loan until the house is sold. Call your trusted loan officer to assist you in the process.
Veterans who have been honorably discharged, have more than 90 days of active military duty (including one day during a period of war) and are disabled or over the age of 65, are eligible for in-home care benefits. There are also income requirements that are assessed on a case-by-case basis. Adult Home Health Care is happy to work through this process along with you or your loved one.
If you are interested in learning more about how Adult Home Health Care can help sort through the varied payment options contact us today at 619-940-6561. We offer free in-home consultations and can explain all of the benefits obtained from using our home care service!