October 9, 2018 by
It’s safe to assume that at some point your aging parents will have the need for a little extra support in order to continue to be safe and independent, and if they’re similar to the significant majority of older adults, they prefer to age in place at home. The first concern that normally arises is how to pay for in home care services. The Syracuse elderly home care team at At Home Independent Living hears this question often, and we have the answers you need.
When it comes to paying for in home care help and support, usually services that are non-medical in nature are paid for out of pocket. Therefore, examining your finances and identifying what assets are available to assist in paying for home care services is necessary.
The Syracuse elderly home care experts at At Home Independent Living have put together a few helpful tips to allow families to get the most out of their personal funds to be able to pay for in-home care. Determine if one or more of the options below is right in your situation:
- Look for a professional financial planner. Financial planners offer guidance and experience in figuring out which financial investments you can and should use to best pay for home care services.
- Identify the value of any personal property, such as antiques, art, collectibles, etc. that you may wish to liquidate. Make sure to have each piece professionally appraised before selling so you are sure to get a fair price.
- Ask a tax specialist for help in figuring out how much revenue could be attained from selling a home or applying for an equity line of credit.
- Check in with your insurance agent to find out if any pensions, annuities, or policies may be used to pay for in-home care.
- Talk with family members about the idea of sharing the costs and duties of home care, to relieve the burden for any one person.
At At Home Independent Living, we understand how overwhelming it can be as you begin your search for Syracuse elderly home care options, and determine the options to pay for the care your loved one needs. If you have questions about home care services or how to pay for in home care in Syracuse, contact us any time at (315) 579-HOME (4663) or simply complete our online contact form to find the resources and answers you need.