If you or a loved one needs home care, you may be confused or overwhelmed with how you will pay for these services. The process of paying for home care can be burdensome for many, especially those dealing with a serious or long-term illness. If you’re starting to learn about the cost of private home care services, here are some tips for how to plan and budget accordingly:
Assess your medical needs.
Rates for home care providers can heavily depend on a patient’s medical needs and the caregiver’s expertise. For example, a caregiver with highly specialized expertise in complex medical conditions will likely have a higher-than-average hourly rate. In general, when a patient has more needs, they will likely require a caregiver with additional training and certifications, thus increasing the cost of care.
Understand your payment options.
Many families don’t realize there are many payment options for home care services. While paying for home care can feel overwhelming, it’s important to consider your financial situation and consider what payment services are best for your finances. There are many home care payment options, including private insurance; Medicaid; Medicare; life insurance; and reverse mortgage loans, among many others. If you need help sorting through the various forms of financial aid and assistance programs, get in touch with a representative from your state’s “office for aging” to learn about your options.
Be aware of extra costs.
There are some extra costs that many people fail to realize are not included in the cost of home care services. These costs typically include agency fees associated with a service or referral agency, caregiver benefits (depending on your provider’s work arrangement with you), and taxes (this is because the IRS considers a caregiver a household employee). Being aware of these additional costs will help you budget accordingly for home care services each year.
Need help securing home care services?
Contact Anodyne and let us find a qualified home care provider for yourself or your loved one.