Senior Center

How to Pay for Home Health Care

By Daniel @ LivingSenior - March 13, 2013

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Home health care is beneficial for any senior who is homebound and needs regular medical care, but it can also be expensive. Luckily there are a variety of resources available and sources of financing for paying for the health care. Look into public programs, non-profit organizations, private insurance, and private funds to come up with a possible financing option.

Public Benefit Programs

Start by looking into the public benefit programs you might be qualified for. This includes Medicare, Veteran’s benefits or Medicaid. Medicare benefits that can help cover part of the cost of home health care includes part A, part B and part C which is Medicare’s advantage plan. You should also inquire about Medicaid or veteran’s benefits from the Department of Veteran Affairs (VA). They may or may not cover the full cost, depending on benefits you have used before and what you need the home health care for. They are typically only available short term, such as following a surgery or long illness.

Insurance Benefits

You may also be able to use some of your private insurance to help pay for the costs of home health care services. Check with your insurance company to find out more about using benefits for this type of care. Long term care insurance and basic health insurance for retirees often cover part of the costs, though probably not all. You can also use a combination of private insurance and public benefits to help get the entire cost covered and not have to stress about financing it on your own.

Private Funds

Your last option is to use your own private funds, whether that be social security benefits, part time income if you have a home-based job, money borrowed from family or friends, your retirement fund, or your own savings or checking account. If you recently retired, you might have pension or retirement funds that can be used for your home health care services. Social security benefits can be used to pay part of the costs, but they won’t cover all of the costs and if you need help paying rent as well, this might not be a viable option. If you have no other way to pay for it and are still in need of home health care, consider asking close relatives to help cover some of the costs. It is important that you get the care you need, even if it means asking for help