Long-term care insurance is a popular way to pay for elder care. It may help pay for your in-home care and protect your assets by paying for covered expenses up to amounts set forth in your policy. Typically, a visiting nurse from the insurance company will come to your home to complete an evaluation of your in-home care needs based on Activities of Daily Living to determine your benefit amount. Long-term care policies can be written in a variety of ways to provide a wide range of benefits.
* Consult a trusted insurance broker prior to investing in a long-term care policy.
Veterans Benefits Assistance One in three seniors in this country is a veteran or a surviving spouse of a veteran. Veterans and their surviving spouses may be eligible for a VA benefit called “Pension with Aid and Attendance.” This benefit may provide reimbursement funding of up to $25,020 a year to help cover medical expenses, including in-home care services. Millions of qualifying veterans and families go without this benefit simply because they are not aware of it. The services of a certified care-giver or home health aide can help veterans remain at home. A home helper or home health aide can be used as part of an alternative to nursing home care, and as way to get in-home respite care for veterans and their family caregiver.
For more information, contact your local VA medical facility and speak with a caregiver support coordinator, visit va.gov/health or dial toll-free 1.877.222.VETS (8387).
Another source of income that seniors over 62 years of age increasingly rely on is the reverse mortgage. If you or your loved one has equity in their home, you can potentially qualify for a reverse mortgage. A reverse mortgage is essentially a loan against your home that your typically do not have to pay back for as long as you live in your home. With a reverse mortgage, you can turn the value of your home into cash without having to move or to repay a loan each month. These funds can then be used to pay for home care.
*For more information about a reverse mortgage, please visit the Federal Trade Commission website at consumer.ftc.gov.
Cash Assistance Programs
Some states have programs for seniors with limited resources and assets, which- rather than going through a home health care agency – allow seniors (or their representatives) to pay a person of their choosing for in-home services. Such programs are often called “Participant-Directed Services” or “Cash and Counseling,” although similar services go by different names depending on location.
To learn if a cash assistance program for in-home health services exists in your state, contact your local Area Agency on Aging through their website. In the Tucson, AZ area contact pcoa.orgor call 520.790.7262 or contact The Eldercare Locator at eldercare.gov or call 1.800.677.1116.
If you or 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. In the event your loved one looking for care has a life insurance policy, life settlements may be an alternate option to fund their care. The policy is treated as an asset in the same way that the home, mutual funds or personal assets are treated. The life insurance policy is sold to an investor while the policy holder is still alive. The selling price is typically considerably more than the cash surrender value of the policy, but far less than the policies face value. Depending on age, health and other factors at the time of sale, you or your loved one may receive a lump sum payment for the policy at half or less than the face value. For more information on Life Settlements as a funding solution visit
*Due to many complexities of life insurance settlement, consulting with a financial planner is imperative before making any decisions.
Certified Caregiver #ALTP0136 | City of Tucson Business License #3023043
Because We Care Home Care - Serving Tucson, Arizona, Marana, AZ, Oro Valley, AZ , and more. Providing, but not limited to the following: In home non medical senior care, Private home care for seniors, Help at home care, Senior home care assistance, Senior care services at home, Bathing services for the elderly, Dental assistance for seniors, Senior transportation services, Transportation services for elderly, Caregivers for the elderly, Senior care givers, Elder care home health, Senior care home health, Aid for elderly in home, Senior homecare services, In your home care, Help for the elderly in their own home, Assistance for seniors living at home, In home care services for elderly, Non medical in home care for seniors, Home care service provider, Home care services for seniors, Senior instead home care, Non medical senior care, Care home health services, In home care for the elderly, Senior citizen home care, In home senior care providers, Elderly home care services, Senior in home services, Senior personal care services, In home caregiver agencies, Elderly care providers, Home assist senior care, Non medical in home senior care, Non medical home care agency, Home care companies, Senior home care services, Home instead senior home care, In home senior care, In home caregiver, Companion care, Memory care, Alzheimer's care, Alzheimer's and elder care-giving, In home memory care, Senior transportation, Dementia care, Senior medication assistance, Grooming assistance, Help with dressing, Showering assistance, Incontinence care, Meal preparation, Certified care-giving, and much more. Shirley Trent, Level 3 Certified Caregiver. Serving, but not limited to the following communities: Continental Ranch Sunflower, Sun City Oro Valley, La Cholla Hills, Casitas de Castilian, Casas Del Oro Norte, Vistoso Village, Highlands Dove Mountain, Saddle Brook Ranch and more.
This website is not designed to, and does not, provide medical advice. All content, including text, graphics, images and information available on or through this website are for general informational purposes only. The content is not intended to be a substitute for professional medical advice, diagnosis or treatment. Never disregard professional medical advice, or delay in seeking it, because of something you have read on this web site. Never rely on information on this website in place of seeking professional medical advice. The information contained in this website is for general information purposes only. The information is provided by Because We Care Home Care and while we endeavour to keep the information up to date and correct, we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability or availability with respect to the website or the information, products, services, or related graphics contained on the website for any purpose. Any reliance you place on such information is therefore strictly at your own risk. In no event will we be liable for any loss or damage including without limitation, indirect or consequential loss or damage, or any loss or damage whatsoever arising from loss of data or profits arising out of, or in connection with, the use of this website. Always consult a certified financial planner, certified accountant or a licensed attorney prior to making any financial decisions that may negatively affect your profits. Through this website you are able to link to other websites which are not under the control of Because We Care Home Care. We have no control over the nature, content and availability of those sites. The inclusion of any links does not necessarily imply a recommendation or endorse the views expressed within them. Every effort is made to keep the website up and running smoothly. However, Because We Care Home Care takes no responsibility for, and will not be liable for, the website being temporarily unavailable due to technical issues beyond our control.