Getting connected to the right care can be difficult. Paying for it can be even more difficult. There are a number of different ways to pay for care, some of which are easier than others, depending on your resources, what systems you’ve already put in place, and the type of care that you’re looking for.
The first step is to look at what you have available right now for resources. This includes cash resources, insurance policies, and community resources. What do you already have working for you that will allow you to get the care you or a loved one need?
Next, look at what you need to get to the level of care desired. Do you need to save extra money each paycheck? Do you need to open up a new insurance policy?
Start early! The sooner you have a plan in place to pay for care, whatever that plan might be, the more likely you are to succeed. Care can be an overwhelming process. Starting early can help avoid panic.
It’s important to note that a lot of senior care services are beginning to rethink the way that their payment structures are organized.
Part of this is because of changes in federal and local laws. More services are covered by Medicaid (Medi-Cal, here in California) than they were 20 years ago. Another part of it is that demographics and finances are changing. For many care services, it is a financially sound decision to accept different types of insurance even if some insurance carriers do not pay as much as others. Really, each service and company that you encounter will be a little bit different. Money is a big topic of concern for most people so it is really important that you have this conversation very early in the search process. The sooner you know what options are out there for you, the sooner you can make a helpful choice for your family when it comes to care needs.
There are still significant gaps in what some insurance policies will cover when it comes to care. For example, traditional Medicare policies cover almost nothing when it comes to long term care. Unfortunately, many people don’t realize this until it’s too late. The best way to combat this is to stay ahead of it. Know what kind of care you are looking for and ensure that you have policies in place to help cover it. If you’re not able to do this, have an understanding of what Medi-Cal (or Medicaid, if you’re not in California) will cover and start the search for a service provider sooner rather than later. One of the tough realities of this line of business (and health care in general) is that Medicaid funded services tend to have longer waiting lists.
We can help you start your search today. Paradise In-Home Care offers a free consultation service. While many people use this service to try and figure out what kind of care will help, it’s also a valuable way to get an idea for how you might be able to pay for senior care. Feel free to get in touch if you’d like to learn more.
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