Numerous factors hinder us from hiring caregivers from a Home Care in Danbury, Connecticut. Will they be trustworthy? Do they have good and reputable records? Are their prices reasonable? Are their payment options convenient?
No matter how many questions we have, we must recognize that we need help from a home health care agency to accompany us at home. We need the special type of companionship and Personal Care which care agencies provide.
To answer some questions, here are some payment options which most agencies offer and most elderly prefer:
Pay through Insurance
- Medicare and Medicaid.
Medicare is a federal health insurance program for people of all ages who fall under the coverage of the law- those who are 65 years and above, individuals with renal disease (end-stage), and younger citizens with disabilities. However, we should take note that Medicare only covers home health care which is medically necessary and it does not include assistance for non-medical home care.
On the other hand, Medicaid is a joint state and federal health program which covers non-medical home care. This is only available for low-income individuals whose qualifications fall within the rules on the eligibility and benefits provided by each state.
- Long-term Care Insurance for Home Care Coverage
This type of insurance will only be significant to those who already have long-term care insurance because most insurance companies would no longer allow belated application for this type of policy. If they would even allow such, companies would often require higher premiums.
Pay through Private Payment
- Reverse Mortgage and Home Equity Lines of Credit (HELOCs).
The elderly who needs Personal Care can hire home care agencies and pay it through reverse mortgage or HELOCs. But we must remember that financial institutions only allow borrowing up to 70% of the home’s value. The severity of the need and the possible length of time for home care services would be the basis of whether we must choose reverse mortgage or HELOCs. We can talk to our home care agencies for further elaboration on this payment type.
- Own Savings
If we are not eligible for all other payment options, we can still choose to hire a home care agency and pay through our own pocket. This option is most frequently used because of its ease and convenience. In fact, most households start to save up upon reaching the age of sixty for probable home care needs in the future. Through putting aside cash in advance, we will not need to undergo financial stress once our body declines and eventually require companions at home from Live-Ins For The Elderly LLC.
When we look for a home care agency to hire, we should also check out their payment options before finally deciding to hire them. We must choose the company which could allow us to save not only money but effort all throughout the process, too.