paying for in-home care

How To Pay For In-Home Care Services

If you are considering using In-Home Care or In-Home Nursing services in Miami, you are probably also wondering how to finance it.

In-Home Care for elderly or ill parents can be very expensive and sometimes seem daunting to afford. Don’t Worry. There are resources available to fund or in some instances completely cover the cost of In-Home Care. If you need some help or ideas of how to finance In-Home Care for a senior citizen or elderly patient, here are a few below.

Supplemental Security Income

Supplemental Security Income, or SSI for short, is a federal government program for disabled adults, children, and those 65 and older, who meet financial limits to receive monetary support. The program is designed to help aged, and other sectors to provide basic needs like food, clothing, and shelter. If your loved one qualifies for this program, the money could be applied towards In-Home Care or Nursing Services. This is a good option if the patient is in a low-income tax bracket.

Long Term Care Insurance

Long Term Care Insurance or LTC is, an insurance product available to supplement costs associated with In-Home Care or Nursing Services for long term patients. This type of policy typically covers basic daily needs over a prolonged period of time. Separate from health insurance and Medicare, this type of coverage extends to chronic illness and can encompass essentials like medication administration and vitals, to skilled nurses and specialty therapists. This is a good option if the patient can pursue private coverage options.

Medicare

Medicare is a government-funded health insurance program for US Citizens over the age of 65. Medicare has two components, Part A and Part B. Part A covers expenses incurred at hospitals, and also covers Nursing Services both at nursing facilities and In-Home Care. Part B covers services like vaccines, lab tests, medical equipment and a variety of doctor visits. Both components of Medicare can be applied towards medical needs of your elderly loved one and are great resources to offset rising health care costs. In many cases, Medicare covers 100% of In-Home Nursing Care provided by Specialized Nursing Services. This is a great resource for anyone over 65 seeking financial assistance for medical services.

Medicaid

Medicaid is a government-funded health insurance program that provides coverage to low income individuals. State and federal funds are used to support the program. This program provides coverage to those with medical needs, and also has the added benefit of providing coverage to caretakers of parents or children. This program covers doctors visits, hospital expenses, and various forms of In-Home Care or Nursing Services. Medicaid is sometimes not available to those who already receive SSI. In many cases, Medicaid supplements 100% of In-Home Care provided. This is a great resource to low-income individuals who need financial support.

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If you have any questions, we’re ready to help. Contact Specialized Nursing Services when you need help.

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