Our goal is to help our clients remain independent at home for as long as possible. However, we understand that most people do not have unlimited funds to pay for respite care. There are several options available to help pay for long-term home care and lighten your family's financial burden. Listed below are some creative options to help your loved one remain in their own home.
Long-Term Care Insurance
Long-term care insurance helps cover the cost of senior care at home or in a nursing facility. It helps protect your loved one's assets and can cover much of the cost of home care, depending on the policy terms. Senior Helpers works with most long-term care insurance companies, so be sure to find out if your loved one has a policy.
If your loved one has equity in their home, they can probably qualify for a reverse mortgage. A reverse mortgage is a loan against your home that you do not have to pay back for as long as you live there. With a reverse mortgage, you can turn the value of your home into cash without having to move or to repay the loan each month. These funds can then be used to pay for home care.
The Veterans Administration offers programs that can reimburse veterans for home care based on certain qualification criteria. To learn more about these programs, please visit the Veterans Administration website.
Your Senior Helpers representative can discuss the VA benefit with you in more detail during the initial in-home interview.
Additional State and Local Programs
In many states, there are local and state funded programs that offer limited care for seniors who meet certain criteria. Contact the Senior Helpers office for more information.
Viatical Life Settlements
If your loved one has a life insurance policy, there are companies that offer insurance owners the option to sell their policies in exchange for a lump sum payment that is greater than the cash surrender value.
Senior Helpers offers a choice of payment options for your convenience. We invoice for our services on a bi-weekly basis for the prior two weeks and can send the invoice directly to the client, their family, a trusted advisor or long-term care insurance company. Our invoices are detailed with the dates and times of service along with the caregiver who provided care on each day.
Most of our clients are "private pay," which means they submit payment directly to us each billing cycle. For your convenience, we accept payment by both checks and credit cards (at most locations).
The Self-Administered Gerocognitive Examination (SAGE test), which takes less than 15 minutes to complete, is a reliable tool for evaluating cognitive abilities.
The SAGE test can be taken at home by patients, who can then share the results with their physicians to help spot early symptoms of cognitive issues such as early dementia or Alzheimer's disease.