- How long can I afford care in my home?
- What if I run out of money…but still need home care?
- Do I need an attorney… or a financial planner?
- Are there any resources to help me stay in my home?
Do you have some of the above concerns? There are several financing options and community resources you may wish to consider to assist with paying for in-home care.
Funding Sources for Home Care
1) ALTCS – Arizona Long Term Care System (part of Arizona’s medicaid program) – For those who meet the medical and financial eligibility criteria, this State of Arizona program may provide an in-home caregiver to assist you with your personal care, homemaker and companion care needs. To apply, contact the State to initiate an ALTCS application (602-417-6600). There are also companies that can help you through this process for a fee.
2) Reverse Mortgages – A Reverse Mortgage is a “loan in reverse”. This type of unique loan is a loan against your home that you do not have to pay back for as long as you live in your home. To be eligible for a “reverse mortgage” you must be 62 years of age or older, have home equity amounts established by the lender, and meet other specific eligibility criteria.
3) Veterans Benefits – Veteran households may be eligible to receive additional monthly cash benefits which can be utilized to purchase in-home care services. The veteran must have been “honorably discharged”, served 90 days or more of active duty with at least one day during a wartime period (veteran did not have to be actively engaged in a war effort), meet family income and assets criteria, be 65 years of age or older OR be disabled if younger than 65 years of age. A surviving spouse of a veteran meeting the above guidelines may also be eligible.
4) Long Term Care Insurance – Some seniors have previously purchased private long term care insurances to assist them as they age. If already purchased, these policies often cover in-home care services. If you live in Care Corner’s service area and are considering our services, we will be glad to help you determine your long term care insurance benefits and eligible covered services.
6) Voluntary Health Organizations – Many people with chronic or other health conditions may benefit from working with an appropriate voluntary health organization. There may be “respite dollars” and/or other helpful benefits or support available through these individual agencies. Examples of voluntary health organizations are the ALS Association, Multiple Sclerosis Association, Alzheimer’s Association, and American Cancer Society.
7) Worker’s Compensation – Individuals who have been determined as eligible for “Worker’s Compensation” benefits may also be able to access short-term home care and/or other services in the home. Please contact your assigned Worker’s Compensation Case Manager to discuss if you are one of those eligible individuals.
FOR RESOURCES AND SPECIFIC CONTACT INFORMATION, PLEASE VISIT THE “RESOURCES” PAGE OF OUR WEBSITE, WWW.CARECORNER.NET
For further assistance or questions in Phoenix metro area, please call us!
CARE CORNER PERSONAL SERVICES
Phoenix/West Valley 602-943-4321
Scottsdale/East Valley 480-833-8889