5 Ways to Help Make Ends Meet

It’s no secret that the cost of homecare can mount and mount quickly. Unfortunately, there’s not one program that provides payment for all the help your loved one needs. The best options often depend upon a quilt of services from businesses, social service agencies, nonprofits and insurers.

Government Programs: Medicare covers home health services like intermittent skilled nursing care, physical therapy, speech-language pathology services, occupational services and more. This care is brief, 60 days or less, and is ordered by a physician. Medicare also covers end-of-life hospice care if a patient has a life expectancy of less than six months. If your loved one has very low income and few assets other than his or her home, Medicaid may pay for home-based care. In Pennsylvania, seniors can also receive financial assistance through the lottery-funded OPTIONS program.
Veterans' Assistance: A program through the Veterans Administration assists chronically ill or disabled veterans of any age to remain in their homes as they age. For more information, visit va.gov and search for homecare.
Private Insurance: A long-term-care insurance policy may include coverage for homecare. Check with your carrier for details.
Reverse Mortgage: Reverse mortgages were designed to help seniors stay in their homes until the end of their lives, enabling them to use the value of equity in their home to get cash now. Reverse mortgages apply only if your loved one is 62 or older and owns the home outright.
Other Help: You could schedule a few hours each week at an adult day care program, a daytime program for older people in an interactive, supervised environment that costs less than homecare. The level of services varies from those that focus primarily on social interaction to those that provide medical care and those dedicated to Alzheimer’s care.