Public & Private Sources to Pay for an In-Home Caregiver

Look to public and private sources to provide payment for an in-home caregiver in Massachusetts. Depending on your aging loved one’s finances, the money may come from one or the other source, or a combination of both.

 

However, we recommend starting the process by consulting with a financial planner. This professional is skilled and experienced in looking at the costs and coming up with a sound plan.

 

Public Benefits

Medicaid – The federal and state government funds the public health insurance program that assists families and individuals with low incomes.

Cash & Counseling – Senior citizens, 65 and older, may qualify for funding if they live in an area that offers this program.

PACE – Those aged 55 and older may qualify for this Medicare and Medicaid program.

Veterans Benefits – The Department of Veterans Affairs may pay benefits to discharged veterans in good standing.

 

Private Insurance

Your elderly parent may have long-term care insurance to pay for all or part of the cost for an in-home caregiver in Massachusetts. Or your senior could cash in a whole life insurance policy.

 

Private Payment

You or your loved one may have assets that could pay for the home care your relative needs. You might consider home equity, a reverse mortgage, or the sons and daughters sharing the duties and/or the costs.

 

Examine the possibilities for your loved one to receive home care services that allow them to remain in their house.