How Is 24-Hour Care Paid For?
Individuals receiving 24/7 home care have access to professional caregivers who provide their services to help these individuals with their daily living activities and other tasks related to their medical conditions. When your family member needs 24-hour care and you can no longer provide the level of care they need, an excellent solution is to get a professional caregiving agency involved.
While the services a company provides are worth it, you may feel intimidated when thinking about paying for them. We break down the cost of 24/7 care services and the payment options you’ll have to ensure you can provide your family member with the assistance they need and deserve.
What Does 24-Hour Care Cost?
The cost of 24-hour care differs depending on the type of services your family member receives, such as live-in or regular 24/7 in-home care. It also depends on the individual agencies, what they factor into their costs and their location.
On average, the national rate for home health care professionals is $27 per hour, according to the Cost of Care Survey by Genworth Financial. For 24/7 services, the monthly cost would be around $19,600 per month. Though various factors go into the price of 24/7 home care, you can expect to pay thousands of dollars, regardless of your relative’s location.
How to Pay for 24-Hour Care Services
You have multiple options for paying for your family member’s home care service. Some choices include:
- Personal resources: Use your parent’s retirement income, savings or part of your regular income to pay for the services.
- Long-term care insurance: Some long-term care insurance plans may cover the costs of 24/7 home care, though your parent must have the insurance plan well before the care period starts. Ensure you know all the policies and requirements because the insurance may only cover part of the costs.
- Veterans’ benefits: Individuals receiving care who are veterans may receive benefits that help cover the cost of 24/7 care. Eligible veterans could get financial assistance if they have Veterans Affairs (VA) health care.
- Medicare: If your parent needs 24-hour care, Medicare will not pay for it. It only pays for part-time care services if your parent needs help with injury or illness treatment or assistance maintaining their health. Medicare usually won’t cover these services unless the client also gets skilled care services.
- Medicaid: Various Medicaid programs may cover 24/7 in-home care services. The exact services they cover may differ by state. Additionally, some states may have Home and Community Based Services (HCBS) Medicaid waivers to let older adults receive in-home services and have them covered by Medicaid.
The organization you’re working with for 24/7 caregiving services may accept payments paid in full or split into a monthly payment plan.
Let Corewood Care Help You Find Appropriate Coverage
At Corewood Care, we do our best to provide your family member with the safest and most comfortable 24/7 home care possible. When you’re considering enlisting our 24-hour care services for your parent, we ensure you get a payment plan that works for your situation. Our caregivers will assist you in finding the most suitable plans while also helping you navigate the health care system. Learn more about your payment options when you complete our contact form and speak with a representative today.