Home healthcare service is ideal in a number of situations, but many worry about how to pay for it. Often these services are out of pocket expenses. However, given its cost, this is not easy in today’s economy. Fortunately, there are options that could help you pay for the home healthcare that is so desperately needed. Here are some options for paying for home healthcare.
Medicare
For seniors, Medicare will typically cover the cost of some healthcare services. There are, however, conditions. Individuals must be homebound, which means they are either unable to leave home or leaving home requires the help of another individual. The person must also require skilled services. While home healthcare services can assist with things like bathing and meal preparation, these are not typically considered skilled services. Instead, those are services that must be provided by a certified professional like a home health aide. Medicare will look at the orders of a physician, the complexity of the service required, and the patient’s condition to decide if this is a necessity. The final qualification for Medicare to pay is that the care has to be intermittent in the patient’s home. It cannot be required all of the time or for an extended period.
Private Medical Insurance
Private insurance may also pick up the cost of home healthcare, but there’s usually a copay involved in this service. As with Medicare, there are typically a number of other requirements including the need for medically necessary, skilled care. It also typically has to be short term in nature. The key is to talk with your insurance company. You must learn more about the available benefits when it comes to home healthcare services. Educate yourself about what is and is not covered. Make sure you’ve properly applied for those benefits.
Long Term Care Insurance
These policies cover the care that other options don’t. As long as the patient is not able to perform two activities of daily living such as bathing, dressing or eating, you should be able to utilize a long term care insurance plan. There are many plans available with various levels of coverage depending upon what you sign up for. It is best to commit to this in your 40’s and 50’s while you are still healthy as the insurance company prices out these products to customers based upon their medical risk profile.
Public Benefit Programs
Other public benefit programs outside of Medicare may also be able to help with the cost of home healthcare. Medicaid and VA benefits may be used to cover doctor-prescribed care. Individual states also sometimes have programs to help offset some of the associated costs. Most of these, like Medicare and private insurance, will only cover home healthcare if it complies with certain rules.
HSAs
Home health care can typically be deducted from a Health Savings Account (HSA). If you or a loved one has a qualified insurance plan that has an HSA attached to it, you need to talk to your tax advisor. Learn more about how to use that HSA to cover medical expenses associated with home healthcare.
There are many ways to cover the cost of home healthcare Talking to a professional can help you decide about paying for home healthcare. That way you can determine the best way for you to cover your home healthcare.
David York Agency Can Help
When it comes to financing you home healthcare, David York Agency can advise. You can all us anytime to discuss your specific case. David York Agency has caring and compassionate individuals on staff who can work with the patient or the involved physicians to make certain excellent care is provided in every situation.
At David York Agency, we understand the many challenges and risks faced by the aging and elderly and are dedicated to providing care to support them through all of those ups and down. At David York Home Healthcare Agency, extraordinary service is what sets us apart from other companies in (region name with link) that provide in home health care services. DYA we could provide direction as to how to manage the total care of your senior loved one.
To learn more about whether we can help you meet your needs or those of a family member, please contact us for a free phone consultation today at 908.373.5300 or browse our website at David York Agency. You can also like us on Facebook or follow us on Twitter or LinkedIn.
