| | | | | repayment of the loan. You can continue to own |
| Paying privately for home health care services is | | | | your own home and afford the care you require. |
| often a necessary option for seniors who want to | | | | |
| remain living independently in their homes .Homecare | | | | The Veterans Administration has established a |
| is the fastest growing segment of the health care | | | | pension program whereby the purchase of personal |
| industry. With more people in need of 24 hour care, | | | | care and attendant home services are paid for |
| live-in care allows the elderly to remain at home with | | | | through a Veteran's acquired pension title VA Aid and |
| a minimum of cost compared to nursing home or | | | | Attendance Pension Benefit. This plan helps senior |
| assisted living costs. Since Medicaid and Medicare | | | | veterans afford private pay home care. Individuals |
| typically don't pay for long term care, the burden of | | | | must have a qualifying medical condition that requires |
| payment becomes that of the individual or their | | | | them to need the daily assistance of others for |
| extended family. How do the elderly afford quality | | | | activities of daily living (ADL's). In addition , to qualify, |
| homecare for themselves? There are several possible | | | | the veteran must: |
| ways to afford private pay homecare, even when | | | | - Have received an honorable or general discharge |
| the costs seem out of reach. | | | | - Have doctor's orders stating they need the aide |
| | | | | and assistance of others daily |
| Most major diseases such as Alzheimer's, MS, and | | | | - Meet financial requirements |
| Cancer offer programs to assist individuals with that | | | | - Have served 1 day during an active war and had no |
| particular illness. Check with your local agency | | | | less than 90 days of service |
| supporting your illness for local community resources. | | | | |
| Additionally, many religious organizations have some | | | | |
| funds available for its members. | | | | The surviving spouse of a veteran may also qualify |
| | | | | providing they were still married to the veteran when |
| Statistics show that the majority of people are going | | | | they passed. This veteran benefit process can take |
| to need some type of long term care in their lifetime. | | | | 4-6 months to process but all benefits are |
| For those who don't have the savings available to | | | | retro-dated back to the originally filing date. Since this |
| pay for private pay home care, Long Term Care | | | | process can be lengthy and confusing, the free |
| (LTC) Insurance is an option. Many insurance | | | | assistance of an Elder Law Attorney is |
| companies have brokers that specialize in this type of | | | | recommended. |
| insurance. Make sure your LTC policy allows for | | | | |
| substantial home care benefits since that is where | | | | Your local county Office on Aging is an excellent |
| most people prefer to remain. | | | | resource that can assist you with finding information |
| | | | | on available funds through your county and state |
| Home Equity Conversion Mortgage (HECM), formerly | | | | programs. The information they provide is available to |
| known as reverse mortgage is a loan you take on | | | | the public and free of charge. |
| the equity you have accrued in your house. This | | | | |
| option allows you the funds needed for homecare in | | | | Institutionalized care such as nursing homes and |
| order to remain in the comfort of your own home | | | | hospitals has risen in cost to the point that has led |
| environment. It is not an equity loan that has to be | | | | many people to seek alternative care. Resources are |
| paid back. This is beneficial in that you don't cause | | | | available to offset the cost of private pay homecare. |
| further financial difficulties by acquiring an additional | | | | Asking your local agencies and seeking all options is |
| mortgage payment. The lender recovers repayment | | | | the first step to making homecare affordable when it |
| on the loan from the proceeds of the sale of the | | | | seems out of reach. |
| property. Your heirs are not responsible for | | | | |