Use these tips to pay for care for senior loved ones.
Imagine this: Your elderly father needs help in order to stay independent, but wants to stay at home. Do you know how to pay for his care? This is a question millions of people across the country are currently facing. Luckily, you have options.
When it comes to paying for home care services, you will likely find that most services will have to be paid for out of pocket. For this reason, assessing your finances and determining what assets are available to assist in paying for home care services is essential.
Live Free Home Health Care has compiled a few tips to help families get the most out of their personal funds in order to pay for in-home senior care. Perhaps one or more of the following options is right for you:
- Use a financial planner. Financial planners can provide expert guidance on which investments you can and should use for funding purposes.
- Assess the value of personal property, including antiques, art, collectibles, etc. Make sure to have pieces professionally appraised before selling them to ensure you get a fair price.
- Ask a tax analyst for insight into how much money could be gained from selling a home or applying for an equity line of credit.
- Consult your insurance agent to determine if any pensions, annuities, or policies can be used to pay for senior care.
- Discuss the idea of sharing the costs and duties of home care with other members of the family. Working together with relatives can reduce the expenses associated with providing home care.
We know how overwhelming it can be to research home care options to find the right care for you, not to mention your options to pay for the care you or a loved one needs. If you have questions about home care services or payment options, contact our care professionals at 603-217-0149 or fill out our online contact form to learn more about our professional senior care in Concord or the surrounding areas. Visit our Service Area page for a full list of the communities where we offer care.