5 Ways to Pay for Home Care in Illinois

The children of aging adults at one point in their lives will have to make decisions regarding the care of their parents and who will administer that care. If a parent decides that they prefer to remain in their own home, there are ways to help pay for home care. Home care is a more affordable alternative to nursing home or assisted living placement. Home care provides ONE on ONE private assistance in the comfort of a individuals home. Home care staff is SOLELY concerned ONLY with the care of you or your loved one. Here a 5 ways to pay for home care assistance in Illinois:

1. Privately paying for long term care means paying for care out of your own income, investments, savings and assets.
2. Long term care insurance will pay for in-home care, assisted living, and nursing home care. This is the most appropriate and needed form of insurance protection available to us today.
3. Reverse mortgages have become one of the most popular and accepted ways of paying for many different expenses, including the cost of long term care. Reverse mortgages are designed to help keep seniors at home longer. A reverse mortgage can pay for in-home care, home repair and any other need a senior may have.
4. Government assistance should be the last resort when considering how to pay for long term care. This type of assistance refers to relying on the Medicaid system. Traditionally, Medicaid resources for in-home care are extremely limited, which means most seniors that apply end up in a nursing home type setting. Planning ahead is really the only viable option for families today.
5. VA AID and Attendance Pension Benefit: The Veterans Administration has established a pension program whereby your purchase of personal care home services may be paid for through your acquired pension. If you are a Veteran or the surviving spouse of a Veteran who has served at least 90 days or more on active duty with one day beginning or ending during a period of war, and you are in need of assistance at HOME, you may be eligible for VA's non-service connected disability pension.

So you see, families have options and choices financially if their loved one would prefer to remain at home. Another is using your life insurance as a way to pay for home-care services. Talk to your financila planner, banker, or Hearts of Gold Home Care can put you in touch with professional that will assit you with your needs. We work with professional that can help in placement of a nursing facility or assisted living by helping you get through the maze. We can provide you with in-home care services, whatever your requirements may be. All families have choices. All families have options.