Wednesday, May 8, 2013

Caregiver Series VII: How to Pay for Long Term Home Health Care



The aging process and the complications that come along with it, emotionally and physically, can be incredibly challenging for any family.  When mom or dad needs additional help through home care services, the associated costs can be intimidating.  Daily home health care at Trustiva Health is very affordable.  The company has no minimums and offers flexibility in scheduling with rates ranging from $10-$19/hour.  In addition to private pay, the list below details other ways to pay for long term care.

1.       Private pay

2.       Private Insurance:

a.       Long Term Care Policy

b.      Life Insurance Policy

                                                               i.      Death Benefit Loans

                                                             ii.      Accelerated Death Benefits

                                                            iii.      Life Settlements

                                                           iv.      Viatical Settlements

3.       Financing:

a.       Reverse Mortgage

b.      Home Equity Line of Credit

c.       Line of Credit (tied to other assets)

d.      Unsecured Senior Care Bridge Loan

4.       Medicaid

a.       MI Choice Waiver Program

b.      MI Home Help Program

5.      Non-Medicaid

a.       MI Adult Medical Program

6.      Federal Government

a.       Social Security (also known as Old Age, Survivors, and Disability Insurance)

b.      Veterans Aid and Attendance Benefit


Call us today at 248-220-4052 or visit www.trustivahealth.com.