Paying for Home Care Services with Private Funds
For individuals that do not have long term care insurance or qualify for federal or state programs, paying for home care with “private funds” may be the only initial option.
Using Social Security benefits, 401K and pension funds or accumulated savings are readily available resources that can be used to pay for necessary home care services. Reverse mortgages, converting life insurance policies and other creative finance options are worth considering.
There are alternative assistance programs available for home care and many of them base eligibility on the individual’s financial resources. As your financial resources are depleted, the amount of assistance available to you from these alternative programs can increase substantially.
For more information on paying for home care with private funds or to speak to a home care specialist, call us today at 1-847-616-5600.