Facilities such as assisted living and nursing homes are more expensive compared to care in-home assistance. Comparing the cost of different home care facilities is vital before you can decide which one is good for your loved one. Ensure that you are fully aware of each facilities cost and compare the rates.A senior home that provides 24-hour assistance to the residents is preferred. These in-home facility provide a personalized assistance to your loved one. The needs of a resident in an in-home are catered for personally by a care-giver who is assigned to each resident.
The cost of an in-home care is different because of the personalized services offered unlike nursing home and assisted living homes where residents are served in general. This makes it hard for the resident to get personalized care and any needed attention.
There are many ways which seniors use to pay for their home care services being rendered to them. Assets, savings, investments can be used by a senior to pay for the services he receives in a in-home care. Insurance payments is also another mode of paying for in-home care. This one is popular, much needed and appropriate. Insurance companies offer the policy to cater for in-home care payments.
Third, senior home care cost can be paid using reverse mortgages. Several expenses incurred by the resident can be paid easily using reverse mortgages no wonder its popularity. It is possible for a resident to remain in a home care because the reverse mortgage caters for his stay. Reverse mortgage pays for all the needs a resident may have during his stay at a home.
The pension obtained from the veteran administration or attendance pension is what can be used to pay for in-home care. A surviving spouse or the veteran him or herself and is on a 90-day active duty and a need arises, then you become eligible for the veterans administration which is linked to the disability pension.
Assistance from the government is also a resort that is considered if the payment is for long term. The governments payment is connected to the medical aid system and is especially for those who are unable to pay for their stay in seniors homes.
Another payment option that is considered is the life insurance policy which seniors use to pay up for their stay in homes and use it and also take into account other issues that can arise later in life. While insurance policies for long term care are readily available, in case you do not intend to be active in your sunset years then it is paramount that you consider taking up the long term care insurance.