How to Finance Home Care

With individuals living longer, and eligible for treatments of various chronic conditions, many will require home care at some point in their lives. This care can come in many different forms, and may refer to nursing services, physical and occupational therapy, speech therapy, home health aides, or homemaker visits. Unfortunately, paying for home care can be a burden, especially if the recipient is a senior citizen on a fixed income. Often, family members end up chipping in their limited funds in order to help the patient out. But before you do that, look into some of the other options that are available when it comes to financing home care.

Instructions

• 1

  Enroll in Medicare if you are eligible, you typically must be sixty-five or older, or have a chronic, lifelong disease. Call Medicare and ask if the person in need of the home care is eligible for benefits under this program. Typically, Medicare pays for home care for a limited amount of time if you were recently released from a hospital, sub-acute, or long-term facility. Get a doctor's order for home care and fax it to Medicare, along with supporting documentation as to why the services are necessary. If you were recently discharged from a facility, it may be the responsibility of the staff to do this for you.

• 2

  Enroll in Medicaid. Unlike Medicare, which is a federal program based on age and disability, Medicaid is a state-administered program based on income -- you may qualify if your assets are $2,000 or less. Call Medicaid and ask if you are eligible for home care benefits under the program. Follow the same process for Medicare if it is determined that you are eligible -- send a doctor's order and the necessary supporting documentation to the appropriate Medicaid office. Unlike Medicare, Medicaid will sometimes pay for long-term home health aide care, in addition to other services.

• 3

  Use your Social Security benefits. If you are elderly or disabled, you may be receiving Social Security benefits since you are unable to work. Set aside part of these to help pay for your home care, which you can supplement with Medicare and Medicaid-paid services

• 4

  Ask family members for assistance with financing your home care. They may be able to provide you with enough funds for a bare minimum of care.