If you need help with the cost of home health care, there are many affordable options to choose from. These include insurance coverage options like Group Health Insurance, Personal Health Insurance, Short Term Health Insurance, and Disability Insurance. Depending on what is needed, either type can provide an array of coverage. The good thing is they are very affordable and are readily available. The bad news is many people don’t seek these out and therefore are not afforded the affordable care they need.
Those who take advantage of in-home care services can often purchase insurance policies that cover in-home care benefits. This would be either a long-term care policy or an individual life insurance policy with an additional rider for in-home care. Some of these insurance policies also offer financing options to purchase the necessary equipment for in-home care.
For individuals, long-term services covered by in-home care plans can be obtained through Medicaid programs. In addition, Medicare, the federal government’s health care program, offers long-term benefits for those who are 65 years and above. Although Medicaid only covers a portion of the costs of in-home care, many seniors and persons with disabilities who qualify find this relief through these means. These benefits are also available for the in-home caregivers who provide such services. Medicaid and Medicare both have payment systems that allow a family member to be adequately covered for the services provided by the in-home care provider. Therefore, it can be helpful for the patient and the caregiver to work out an arrangement regarding payment arrangements.
There are two types of coverage to consider when obtaining Medicaid benefits for in-home health care services. The first type is “fee-for-service” where the resident is solely responsible for the cost of the services and any additional out-of-pocket expense; however, if a referral is needed then payment can be arranged. Another type of coverage is “provider-based” where the family or privately hired caregiver makes payments according to a schedule and the services are covered on a sliding scale based on financial need. Both fee-for-service and provider-based coverage are managed by the state for individuals with Medicare. Because the cost for these services depends on financial need, most seniors fall into this category.
The other type of plan that provides coverage for in-home health care services is long-term care insurance (LTCi). Like Medicaid and Medicare, a long-term care policy will reimburse the insured for nursing home services and related expenses at a set level. The benefits will be limited but a person will be able to choose the level of coverage that best meets his or her needs. Many seniors fall into this insurance category either because they need nursing home care now or they are looking forward to the day when they can no longer rely on their strength for help.
Regardless of the type of coverage chosen, hiring a home health care agency is a great way to protect your loved one’s independence. You can rest assured knowing that if something happens, their loved one will be in a safe and loving environment. This will allow the patient to heal faster and regain independence. The agencies work closely with health care providers to coordinate care appointments and to make sure patients remain in their comfort zone. With their expertise and caring personnel, home health agencies will take the worry out of home health care services for you and your loved one.