Paying for Home Care

The cost of in-home care usually ranges between $10 and $40 an hour, depending on the location (urban areas tend to be more expensive), the type of care needed (simple help around the house is less expensive than skilled help with bathing, toileting, and safely getting in and out of bed, for example), and whether the caregiver comes from a licensed home care agency (more expensive) or is an independent home care worker (less expensive).

Here are some of the options you can explore to help pay for in-home care:

1. Pay for in-home care with public benefit programs.
   If your loved one has very low income and few assets other than the home he or she lives in, some public benefit programs -- including Medicaid, PACE, VA benefits for veterans, and Cash and Counseling -- pay a limited amount for care. See how public benefit programs can help you pay for in-home care.

2. Pay for in-home care with private insurance.
   There are at least two options worth looking into: If your loved one has a long-term care insurance policy, it may include coverage for in-home care. He or she might also consider converting a life insurance policy into cash to help pay for in-home care. Explore options for using private insurance to pay for in-home care.

3. Pay for in-home care with personal and family assets.
   Like most families, you'll probably have to rely on your loved one's and other family members' personal assets to pay most in-home care costs. There are several ways personal and family assets can be used help pay for in-home care, including tapping into the equity in your loved one's home and gathering contributions from those family members who aren't actively helping with daily care. Explore ideas for paying for in-home care with personal assets.

4. Pay for in-home care with creative ways to lower costs.
   To lower the cost of in-home care, you might explore some creative alternatives. Find volunteers at a local church or high school to provide a few hours of coverage each week, or schedule a few hours each week at an adult day program. Find out more about how to lower the cost of in-home care.