Paying For Senior Homecare Assistance In Shelton, CT
A number of financing options are available for homecare assistance
When people first start considering homecare assistance for their senior loved one, it is not long after that they start thinking about financing.
While in-home senior care can admittedly be considered a bit on the pricey side for the average American household, there are a number of financing solutions available that can help take the load off of primary caregivers and their loved ones. However, the first thing to consider are the financial benefits of deciding for professional homecare assistance.
Being the primary caregiver is rewarding, but at the end of the day, it is more expensive than professional in-home care. If you factor in all the time and money you spend caring for your loved one, you will soon see that hiring a professional caregiver is a viable option.
Many people chose to pay for in home senior care out of pocket and that is definitely the most expensive route. Most often, people pay out of pocket because they do not have insurance that covers long-term care.
However, long-term care insurance is available and could end up making the most sense for your situation. It could help significantly decrease the financial impact your loved one's care is having on your family. While the premium may be high, it is significantly lower than paying out of pocket for homecare assistance. One thing to watch out for is the elimination period. This is the time frame during which you and your loved one will have to pay for caregiving out of pocket before the benefits kick in.
It is also wise to look at whether or not the premium will be adjusted for inflation and doing your research is of critical importance. While it is best to purchase long-term care insurance before your loved one needs a caregiver, it can still make financial sense after they start needing assistance on a regular basis.
Whatever your current financial situation, Comfort Keepers will work with you and your parent to find a solution that works best for everyone. We treat each one of our clients as an individual and each care plan is developed and planned accordingly.
For more information on paying for homecare assistance, please give us a call today!