Don’t let the cost of home care stand in the way of providing your loved one with the temporary, part-time or live-in care and companionship that he or she needs. If long-term care insurance, Veterans benefits and private payment are not viable options for your loved one, don’t despair. There are a variety of additional resources and common payment options available, such as:
Sometimes referred to as “nursing home diversion” programs, there are a number of state-specific initiatives designed to help keep seniors who qualify for Medicaid out of nursing homes and living comfortably in their own homes. These programs will help to cover the cost of home care in cases where that care can be provided at an expense below that of a nursing home.
Tax Credits and Cost of Care Reductions
There are a variety of state and federal programs, initiatives and tax credits that can significantly lower your family’s tax burden, effectively reducing the overall cost of care. Research the following options to find out if your family member qualifies: Alzheimer’s Respite Care, Elderly and Disabled Tax Credit, Federal Elderly Care Tax Credit, LIHEAP – Aid for Energy Costs, Medical Expense Tax Deductions, NFCSP Respite Care, State Elderly Care Tax Credit and Veteran’s Affairs Respite Care.
In addition to researching all of the options above, be sure to look into some of the many non-profit assistance programs available nationally and in your region. There are also a number of state-based programs that may provide financial assistance to cover all or some of the costs of home care.