Covering The Costs of In-Home Senior Care

If you or a loved one as come to the point in life where in-home care has become a necessity, you may be considering the best way to pay for it. While in-home care can be quite affordable when only needing a few hours a day of service, long hours can really rack up the costs. Many seniors will turn to Medicare or Medicaid when attempting to cover those costs. While both can be helpful, it is important to understand the difference in order to get the best coverage possible.

Medicare Won’t Cover Long-term Care

Medicare can be extremely helpful in covering the costs of intensive in-home care when a serious medical condition occurs or in the event of sudden health problems, but, unbeknownst to many, Medicare does not cover long-term home care. When facing an event that requires short-term, intensive care at home, your best bet is to look into utilizing Medicare while determining a long-term solution.

Click here to learn about recent changes with Medicare coverage.

Medicaid Can Assist With Long-term Care Coverage

Unlike Medicare, Medicaid can provide assistance on a long-term basis but must by qualified for by presenting financial records over the past 5 years which indicate a low income and little or no savings. So if you or a loved one is facing the need for long-term, in-home care and can’t afford it, then you should look into applying for Medicaid. If you are unable to qualify for Medicaid, then you may want to look into some of these other ways to help pay for in-home care.