A common misconception for most families faced with the idea of considering senior home care is that Medicare covers Custodial Care, which is defined as assisting a person with their activities of daily living (ADLs). In most cases this is exactly the kind of care that most people first needing senior home care require, and Medicare does not cover it or long-term care of any kind. Live-in care falls under that category, and the cost of Live-in care is thus an out-of-pocket expense.

There are, however, a number of other options that can assist with payment for home care.

Aid and Attendant Pension: Qualified Veterans can get up to $20,000 per year to help pay for the cost of home care or assisted living in a facility.

Reverse Mortgage: The mortgage company pays the homeowner a monthly amount which is then subtracted from the equity in the home.

Life Settlement: Unneeded or unaffordable life insurance policy can be sold for a percentage of the face value.

Long-Term Care (LTC) Insurance: Recommended for those over 55, LTC insurance pays for senior home care preventing the depletion of a lifetime of wealth accumulation by insuring against long-term illness.

The first three options are little known and worth consideration when sorting out ways to pay for custodial care for a loved one.

At Tender Hearts at Home Senior Care, we have access to all these products and services through relationships with reputable professionals, and will gladly share details and resources.

Tender Hearts at Home Senior Care of Cincinnati, Ohio provides the best non-medical home care services with compassionate caregivers. They provide home health care, elder care, live in care, personal care, companion care, respite care, errands, transportation, home helper and senior helper services and all many other types of non-medical senior care. A family owned and operated company in Cincinnati, Ohio serving Hamilton, Butler, Warren, and Clermont counties. Please call us when your loved one needs help at 513-234-0805

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