How to Pay for Long-Term Senior Care Costs

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Who Pays for Long-Term Senior Care?

By Glenn Krakow, 8:00 am on

Long-term care provides health services for senior adults, including stays in assisted living facilities or nursing homes, group care during the day, and in-home care in El Dorado Hills. When you are faced with obtaining long-term care for your loved one, who pays for the services? Let’s take a look at the options.

Medicare

Medicare provides health insurance for people aged 65 and older, as well as young people with specified disabilities. Often, it is an unwelcome surprise to learn that Medicare does not cover most long-term care costs. Medicare covers some part-time, short-term care and may cover part of the first 100 days in a nursing home. There are policies to supplement Medicare, known as Medigap. These policies also do not provide for long-term care, but may cover co-payments for a nursing home stay that qualifies for Medicare coverage.

Medicaid

Medicaid provides insurance to those with low income. Medicaid also does provide for long-term care. It is important to remember you must meet certain financial and health requirements to be covered under Medicaid.

Federal Programs

If your senior loved one is a veteran, Veterans Affairs (VA) benefits may help cover long-term hourly or live-in home care services as well as care in a VA nursing home. Whether or not a veteran, your loved one may also qualify for care under the Federal Older Americans Act program. This program provides for in-home care, meals, transportation, and other services to help seniors remain independent for as long as possible. There are no income restrictions for these programs, but they are targeted at lower income, frail, or disabled seniors.

Private Options 

Due to the limited options available for funding through government programs, many face the reality that they must pay for long-term care costs themselves. This can be handled through personal savings and long-term care insurance. Long-term care insurance is reasonably priced provided the policy is purchased when the insured is younger with low health risk. As age and health risk increases, so does the price of the policy.

If you have other questions about long-term or in-home senior care, call (916) 358-3801 and request a complimentary, no-obligation consultation with an experienced Care Manager from Home Care Assistance of El Dorado Hills. Whether you’re interested in part-time care or need home care for a senior with dementia, Alzheimer’s, or Parkinson’s, we’re here to answer questions and provide support during this new stage of life. We look forward to hearing from you.