When it comes time to find in-home care for your parent, friend or relative, paying for this important service is probably the last thing on your mind. After all, it’s hard enough having to find a perfectly matched, capable and compassionate caregiver to meet your loved one’s changing needs. Nevertheless, it’s important that you and your family draw up a financial plan to cover the cost of care. This helps to ensure that your loved ones are comfortable, secure and cared for as they age and that your family’s financial resources are preserved in the process. The good news is that there are a number of resources and options available to help you with that plan.
In order to help you weigh each option and plan accordingly, we’ve compiled the following list of ways to pay for your beloved elder’s home care needs. Of course, as with anything, there are pros and cons to consider with each option so it’s important to do as much research as possible.