PLANNING & FUNDING CARE
How Can Insurance Help With The Cost of Home Care?
Most people mistakenly believe that long-term care insurance is intended only for nursing homes. According to the American Association for Long-Term Care Insurance, “some 7.6 million individuals currently receive care at home because of acute illnesses, long-term health conditions, permanent disability or terminal illness. By comparison, there are just over 1.8 million individuals in nursing homes.”
Long-Term Care Insurance
There are many versions of long-term care policies and each will have its own stipulations for coverage. One major difference between policies is the definition of the elimination period before their coverage begins to pay. You should check with your insurance carrier for the details regarding home care in your policy.
One thing is common to nearly all long-term care policies. Any home care agency that you choose must be qualified and licensed to provide those services according to government requirements. Our fulfillment of the licensing requirements of the State of Texas ensures that we should be approved under your Long Term Care Insurance provisions.
Paying Out of Pocket for Long-Term Care
Seniors and their families often must tap into savings and assets to pay for long-term care, as many cannot afford long-term care insurance and do not qualify for Medicaid. Medicare coverage is also very limited.
The cost of care will depend greatly on the amount of care the senior requires. To get an idea of what the expense could be, research nursing home costs in your area, then calculate the total for a four-year stay. But actual costs cannot be predicted, as persons with Alzheimer’s disease or other forms of dementia often need care for many more years. In comparison, in-home care expenses are often much less.
Medicaid is a joint federal and state program that helps with medical costs for some people with limited income and resources. Medicaid offers benefits not normally covered by Medicare, like personal care services to help individuals with activities of daily living, such as bathing, grooming, meal preparation and housekeeping.
Medicare applies to long-term care in limited circumstances, such as immediately following a hospital stay. Medicare covers short-term, physician-prescribed home health care for skilled nursing; physical, occupational and speech therapy; medical social services; and assistance with bathing, feeding and other personal care. Medicare does not pay for extended care. It also covers hospice care for people diagnosed with a terminal illness and a life expectancy of six months or less.
The needs of every client vary in the services they require and the number of hours that should be dedicated. That is why we work with you to identify exactly what your needs are. We provide as much flexibility as possible. You determine the schedule and the services that you feel are necessary for proper care. You are in charge of budgeting to fit the care requirements and the costs. And, since there is no long-term commitment, Ameristars Best Care can be the answer even if you are simply looking for a brief respite from the responsibility of being the primary caregiver. We can provide the break that eases the pressures of always being responsible yourself.
Your exact costs will be based on the number of hours of service you need per week.
Veterans Administration Aid and Attendance Pension Benefit
Veterans and their surviving spouses may qualify for Veterans Administration (VA) benefits to cover some of the cost of in-home care. A veteran or a surviving spouse of a veteran who served at least 90 days on active duty with one day during a period of war may be eligible for the VA’s non-service connected disability pension.