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Posts Tagged ‘Caregiver’

Have you heard of long term care insurance for so many times but still unaware on how is it going to affect you? The common blunder is that people only consider getting insurance coverage once they get into a point when they are seriously ill, incapable of doing simple chores, and run out of budget for nursing home care. You may have vigorous lifestyle and health today, but someday those comforts will suddenly fade in later years. Long term care insurance, although ideally, saves you from catastrophic experiences of adulthood and retains the life you have had, without worrying that your family’s finances are at stake. Here are some reasons why long term care insurance is important:

1. Having long term care insurance keeps your independence and dignity. How? Some people exhaust their assets for out of pocket expenses on nursing home only to end up bankrupt, while others puts their money in trusts. Without sufficient money or resources to fund for long term care, you may qualify for the federal program called Medicaid. Medicaid beneficiaries receive mediocre services: most nursing homes reject Medicaid patients, and if they do they only offer semi-private with little or no privacy. It’s never that easy to qualify for Medicaid than what you have expected, and if you prefer home care or assisted living then Medicaid is not a good option. Medicaid won’t sign you up for coverage unless you have net assets of $2000 or have your properties under estate recovery. Whether you like it or not, Medicaid will let you stay in nursing home, period. However, if you have long term care insurance you can freely choose which type of setting suits you best and makes you feel comfortable. Assisted living facilities are far better from nursing homes where residents enjoy complete privacy and comfy home-like environment.

2. Married couples may have problems financing LTC. If one spouse needs LTC, the other will be forced to pay for outside caregiver or nursing home care. The money used in paying for the care usually comes from the couple’s savings or combined assets. If the care extends, the spouse may be left with minimal assets for future needs. However, LTCi fixes this issue where your spouse’s assets are protected.

3. Many healthy care giving individual do not consider insurance option and would rather pay their own care without help from anyone. If the care of the disabled or sick family member drags on too long, this can affect the caregiver both mentally and physically.

4. Long term care insurance relieves the burden it could give to your children, spouse, friends, and family members. So when your children or spouse promised to take care of you, the LTCi can help them fulfill that promise. The insurance can pay for additional home health aide or nurse to help your loved one perform care-giving activities.

5. You probably want to pass your hard-earned assets to your children, LTC insurance helps you protect your assets against the cruel cost of long term care so you can save them for your heir/s.

6. They say single men and women may suffer the worst because they are more likely to live alone. These people prefer to get as little help from their friends and relatives and shoulder everything on their own. LTCi helps those single individuals maintain a good lifestyle and health care.

Homecare services are a critical sector of the healthcare providers across the country. Selecting a reliable caregiver for the seniors in your life is one of the most important decisions you will ever make. Getting an impression of a senior homecare specialist over the phone is nearly impossible. Take some time to do additional research so you can be confident in the quality of the care your loved ones receive. To save yourself a considerable amount of time and frustration, follow these guidelines when sorting through service providers in your area.

1. Determine your own level of involvement. Homecare providers range from full-service to referral agencies, while others put you in touch with private caregivers for hire. If you don’t have time to screen potential employees, work with a company that can match you with a reliable specialist who can meet your needs.

Full-service homecare services are ideal if you can’t be a hands-on employer. They will check caregiver references, handle finances including payroll, taxes, and workman’s compensation. They also take a great deal of responsibility when it comes to supervising the placement and continued success of a caregiver in your home. If you do have the ability to be more involved, you can pursue a private-hire caregiver that you may have learned about through a recommendation or healthcare group. Keep in mind that the background checks and interviewing of potential employees will fall to you, as will payment and insurance. A referral agency offers a middle-of-the-road option, and will handle employee selection and placement before turning over the professional relationship to you.

2. Be clear about your expectations. Before contacting any of the homecare services mentioned above, determine exactly what the needs of you and your loved ones entail. When will the caregiver need to be in your home? Be sure to make a list of duties that will fall to the caregiver, and highlight any specialized care that the senior requires. The more specific you can be, the better your chances of finding a qualified employee with whom you can develop a long-standing professional relationship.

3. Ask questions. Be inquisitive and ask as many questions as necessary to confirm the reputation of the homecare services you investigate. How long has the agency been providing in-home senior care? How extensively are employees screened? Can the agency provide references to you? If emergencies arise during or after work hours, how are they handled and who is responsible for contacting you? Are caregivers supervised regularly when working in private homes? Don’t forget to ask about payroll policies so that you are aware of how the financial aspects of the business deal will be handled.

4. Exercise caution and common sense. It is a good idea to meet with the caregiver in person prior to the start of any homecare service. You want to ensure that you find someone with a positive personality who you will be comfortable working with. Additionally, remember that this employee will likely have access to your home when you are away, so plan accordingly. Keep valuables locked away, and monitor your credit card and bank statements regularly.

Many of us will gladly take Mom to her doctor’s appointments, administer medications, and check in if the need arises without a second thought. But with millions of loyal children caring for aging parents out of their own pockets, a little financial relief is welcome. Few family caregivers are aware that you can get paid – however small the amount may be – to care for Mom and provide homecare services. Due to the long working hours, however, some adult children caregivers have been forced to leave their full-time jobs or even scale back their hours spent on the clock, leading to a significantly reduced cash flow. Fortunately, if being a caregiver is causing a noticeable financial strain, there are homecare reimbursement programs that can help alleviate some of the burden. Keep in mind, however, that you must practice patience when applying for these programs – make sure that your application is up-to-date and all the necessary attachments are included before you send it so that delays aren’t any longer than necessary.

Long-Term Care Insurance (LTCI)

Long-term care insurance, which functions as an indemnity program, only pays the insured the amount that was contracted at the outset, and regardless of homecare services that are received, will only pay that specified amount.

LTCI, which covers nursing home, home health care, adult day care services, assisted living facilities, and hospice care, offers payments to in-home family caregivers, though the insurance must include in-home care and/or homecare services coverage. In certain instances, LTCI requires that family caregivers complete a basic training program on homecare services and/or caregiving for elderly patients. Though almost all LTCI contracts include skilled, intermediate, and custodial long-term homecare services, don’t rely on this type of insurance to be your only fall-back when it comes to paying for in-home health care. Though for clarification, you should contact your LTCI company directly for details on its family caregiver reimbursement policies as well as what is needed to qualify.

Medicaid Cash and Counseling Program

A state-administered program, Medicaid is only available to low-income individuals and families who meet certain federal and state law eligibility requirements. In other words, if you have limited income and resources, applying for Medicaid relief is advisable; however, you must be able to meet specific eligibility criteria. Persons over the age of 65 with limited income and resources immediately become eligible as well as those who are terminally ill or live in a nursing home.

Fortunately, if the person you’re caring for is either eligible for or is currently using Medicaid, you may be able to receive direct payments from its Cash and Counseling program, though it is available only to family caregivers in select states, such as Alabama, Arkansas, Florida, Illinois, Iowa, Kentucky, Michigan, Minnesota, New Jersey, New Mexico, Pennsylvania, Rhode Island, Vermont, Washington, and West Virginia. In some cases, the person you’re caring for may have too high an income, excluding him or her from the Medicaid program; some states, such as Georgia, Maine, Nebraska, North Dakota, Oklahoma, and Oregon, have accounted for this oversight and offer similar programs to family caregivers (Source: National Governor’s Association).

Medicaid, aware that family caregivers are often the best care providers for Mom or Dad, will send a check directly to the recipient to reimburse for homecare services rendered, though this amount depends upon various assessments of overall needs and the average cost of in-home health care for that particular state. This money can also be used by family caregivers to purchase supplies, medical equipment, or even to pay for ADLs (activities of daily living). To find out if your loved one is eligible or for more information on the Cash and Counseling program, please call the National Program Office at 617-552-2809.

Making the Arrangement with Mom Official

Since money is involved, it’s recommended that family caregivers draw up some sort of short, typewritten contract that outlines the terms of the caregiving situation in depth, including the pay rate and frequency, job description and homecare services that will be provided, and how various expenses will be reimbursed (if applicable). Hiring an attorney or other legal professional will help all family caregivers involved create a legal document that prevents sticky situations from arising.

It’s also important to remember that this payment is viewed as income by the government, so all family caregivers must report their earnings each year as taxable income. Though the money received for providing homecare services is negligible, it will help to offset many of the costs associated with providing Mom (or Dad) with a loving, stable, and comfortable home.