As we get older, our minds and bodies start to slow down. Things that we used to be able to do easily become harder, and we require the help of others to get through the day. There are many options to consider when it comes to elderly home care, including nursing homes, assisted living, and non-medical in-home care. Most seniors prefer to live out their remaining days in the comfort of their own home, but caregiving isn’t always an affordable option for seniors and their families.
At OC In Home Care, we are proud to offer top-rated in-home care services at a fraction of the price of other home care providers in Orange County. Our non-medical caregiving services are offered at a competitive starting rate of just $24 per hour, which makes it easier for seniors to get the quality care they deserve without breaking the bank. Contact our Orange County caregiver agency today to schedule a consultation, and follow these tips to make non-medical caregiving more affordable for your family.
Work With Your Insurance Company
One way to save on non-medical home care is to consult with your insurance company to find out whether or not you have coverage for senior care. Depending on your situation, you might be able to leverage your life insurance policy by taking out some of the cash that has accumulated over the years. Lots of people make the mistake of assuming that home care insurance isn’t available to them, but you never know until you talk with your insurance provider and figure out what the best course of action is. Oftentimes, health insurance providers are able to suggest options that you may have never thought of, such as dipping into your life insurance policy and withdrawing up to your cost basis.
It is important to note that seniors who have Medicare do not receive coverage on non-medical home care. Depending on their needs, Medicare only covers the cost of part-time caregiving for seniors who are recovering from an illness or injury, in which case they would need medical home care. However, Medicare does not provide coverage for elderly people with chronic conditions who require full-time care. This is where long-term care insurance comes in — you can submit your receipts to your insurance provider for reimbursement. No matter what type of health insurance you have, it’s worth finding out what type of coverage you have, if any.
Use Veteran Benefits
Another way to reduce the cost of home care is to tap into your veteran benefits if you served and are eligible. The U.S. Department of Veterans Affairs provides financial assistance for veterans who served in the military and require long-term care in their elderly years. If you have served in the military during periods of conflict, you may qualify for the Veterans Affairs Aid and Attendance benefit, so don’t hesitate to reach out to the VA to find out whether you have any monetary benefits you can take advantage of.
Arrange For A Reverse Mortgage
For many seniors who still live at home, taking out a reverse mortgage is a great way to pay for in-home elder care services. Essentially, a reverse mortgage allows you to withdraw cash from the equity of your home in a lump sum or a specified amount, with the maximum borrowed amount being approximately 75% of your home’s value. However, it’s best to leave this as a last resort, as it can be difficult for seniors to pay for home insurance, property taxes, utilities, and other expenses as they age. The last thing you want is to have to give your home up to your lender when you can’t make payments, so be sure to take advantage of insurance, VA benefits, and other savings before diverting straight to a reverse mortgage.
Save On Orange County Home Care Services
Looking for other ways to save on non-medical home care for yourself or a loved one? Click here to view our FAQ page, and get in touch with our in-home caregivers at OC In Home Care to set up a consultation. We would love to answer all your questions and help you find the most affordable home care option. In most cases, non-medical home care is more affordable than assisted living and nursing homes, and the quality of life is far greater. Allow us the opportunity to get to know you and customize an elderly care plan that serves your unique needs.