One of the most challenging aspects of providing home care services for you or your loved one is to determine your best home care payment options. For guidance, feel free to contact All Heart Home Care directly. An All Heart representative is happy to walk you through all your available payment options for home care. We strive to provide you with the highest-quality of care at affordable home care rates. Some common payment options for home care includes:
Long Term Care Insurance (LTC)
Most long term care (LTC) insurance plans cover in-home care service. All Heart Home Care works with many LTC insurance providers. We have the experience and knowledge in the claim process. Team All Heart can reach out to your LTC insurance provider to better understand your policy and learn the claim procedure. All Heart Home Care assists clients with the difficult LTC claim process.
Life Insurance with Living Benefits
In 30 days or less a Life Insurance policy can be converted into a Long Term Care Benefit Plan. Start making monthly and tax-free payments directly to the care provider of choice. If you have a life insurance plan, the policyholder may be able to collect benefits to pay for in-home care. Check with your insurer to see if this is available, or All Heart Home Care will assist you with this.
For the terminally ill that require in-home care, companies exist that will purchase your life insurance benefits and in exchange, pay the policyholder a cash settlement. If this is a scenario you are interested in exploring, All Heart Home Care can provide names of companies that purchase these kinds of assets.
Out of Pocket Savings
It is often challenging to obtain private insurance coverage for in-home care, assisted living or nursing home services. The good news is that All Heart Home Care is so much more affordable than the alternatives, that many people in need of help have no problems paying for our service out of pocket.
A reverse mortgage is a wonderful way to pay for long term home care services. It utilizes your home’s equity giving you an additional source of income from a bank or a lender; paying you a lump sum or in monthly installments. Repayment of the reverse mortgage loan occurs when the house is sold. Call a trusted loan officer to assist you in the reverse mortgage process.
Many Veteran seniors are not aware of this popular payment option for home care. Veterans who have been honorably discharged, have more than 90 days of active military duty (including one day during a period of war) and are disabled or over the age of 65, are eligible for in-home care benefits. There are also income requirements that are assessed on a case-by-case basis. All Heart Home Care is happy to work through this process along with you or your loved one.
To learn more about how All Heart Home Care can help sort through the varied payment options for home care contact us today at 619-736-4677. We offer free in-home consultations and can explain all of the benefits obtained from using our home care service!