Paying for Care
HelloCare can help families budget for care. Discussing your care goals as a family is a great place to start. If your goal is to age in place or move to a senior living community, we can help connect you with the resources to make your plans a reality. We provide the information you need to make the best choices for yourself or your loved one. Many families ask about payment options. Here are a few options to consider for your loved one’s care:
Paying Out of Pocket
This is the most common choice for seniors and families. Savings or supplementary income can help pay for home care or other special types of care.
Savings and Investments – Using personal or family savings and liquidating investments.
Retirement Income – Pensions, Social Security, or 401(k) withdrawals.
Family Contributions – Pooling resources from children or relatives.
Long Term Care (LTC) Insurance
A LTC policy is a great way offset the cost of home care. As the cost of care increases, LTC policies can close the gap in budgets to make care more affordable. Please call your agent to verify HelloCare services are covered. Most policies do have an in-home care benefit. Our skilled advisors will direct you to review your policy and HelloCare can work within your budget. Already partner with most LTC insurance companies to provide care for their policy holders.
Veteran’s Aid and Attendance Pension Benefits
Veterans and surviving spouses may be eligible for in-home care benefits. The number of hours covered is determined by the service connection and level of need. HelloCare is a preferred provider for VA home care. Contact your VA provider to learn more about your eligibility.
Reverse Mortgage
Reverse mortgages can act as a healthcare savings account for home owners 62 and older. HelloCare Care Managers can refer you to a reputable Reverse Mortgage Specialist to evaluate and see if this option is right for you.
Whole Life Insurance Policies
Many policies offer an option to borrow against the policy while keeping insurance in effect. Contact your insurance agent to discuss your needs and possible options for paying for care.
State and Local Programs
Oregon provides funds for in-home to seniors who meet certain criteria. HelloCare Care Managers can help you evaluate these options along with NW Senior and Disability Services staff.
Our care managers are experts in providing the right care to each senior. We are here to review the programs available to you and present you with the options that are the best fit for your circumstances and budget.
The team at HelloCare looks forward to providing your loved one with the help they require to continue living independently at home!
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