Paying for Home Care

How to Pay for Home Care

The majority of people are not prepared for the possibility of needing care at home as they age. Whether it is non-medical or medical care, home care is essential to safety and well-being, however it is generally not covered by insurance or by Medicare.

The following options can help you plan ahead so that you can get the services you need even if you have limited funds.

Long-Term Care Insurance

Another way to fund care is through long-term care insurance. You may already have some form of long term care insurance in place like an employer sponsored plan if your job offers it; otherwise, you can find an individual policy to cover your needs. Long-term care insurance is an excellent way of providing for future care. You will be able to select how much coverage you want and what type (or types) of expenses it covers. This includes daily living activities like dressing and eating as well as skilled care. Some of the plans we work with include John Hancock, MetLife, Genworth, Calpers, Banker’s Life and Farmers.

If you are able and willing to take out a policy, it may be worth considering. Policies can range in cost from $2,500 per year for a couple in their mid 50’s, up to $14,000 per year for a couple in their early 70’s.

Even if you are not able to purchase insurance, there are various ways of planning ahead for future care needs. Contact us today to learn about the options available for your Home Care needs.



Some of the plans we work with are:

  • John Hancock
  • MetLife
  • Genworth
  • Calpers
  • Banker’s Life
  • Farmer’s
  • Transamerica

We’re Here to Help

Long-term care insurance is designed to help cover the cost of health care and living assistance when you need it most.

If you have questions about how to start home care services for a loved one, or what services are covered under long term care insurance, we’re happy to help.

Please call our office at 928-284-1948 today or click the button below to request an appointment.

Private Pay

One of the easiest and most popular ways to provide for future care is through private pay, which can be arranged in a number of ways. One way is to have family and friends set up an account that you can draw from as needed, so they will know when the money should be drawn down on your behalf. Another way is to arrange for a credit line with your bank so that you can draw from the account as needed. This approach might be appropriate if you want to maintain control over how much money you use and when, or if your financial resources are limited.

Another way to use private pay is through a long-term care insurance policy. Though you need to have adequate assets in order to qualify and the premiums can be expensive, these policies offer an alternative for covering future home care needs. If you don’t want your funds tied up in one of these policies or if they are not appropriate for your circumstances, an alternative may be to use a reverse mortgage. With this option, you will be able to receive funds in the form of a line of credit that can then be used for home care needs and other purposes.