Adult day care or day services can be a Godsend for caregivers and their disabled or senior loved ones. The centers vary by services offered, but many provide non-medical services, such as meals and snacks, social interaction possibilities and entertainment, and transportation. As much of a blessing as these services can be, they can gets costly, particularly if you have not invested in long-term care insurance. Often, many are forced to pay out-of-pocket, and some states have found public funding for adult day services pales in comparison to funding for its child care counterparts, so its ability to cover costs may be limited.
Instructions
Get Financing for Adult Day Care
1. Invest in long-term care insurance early on. The best option, of course, is always prevention and foresight. Some insurance advisers suggest individuals invest in LTC in their forties. After all, one never knows what tomorrow may bring. Increasingly, private long-term care insurance is covering community-based care, particularly as more people become aware of the need for such insurance, as life expectancy increases and baby boomers age.
2. Explore Medicaid options for centers earning public revenues. State Medicaid home and community-based waivers are the most common source of public funding, according to the AARP. They allow states to implement options to nursing homes for those who are eligible for Medicaid.
3. Identify if the services offered warrant Medicare funding. The center may help finance such care for a disabled loved one if services are medical in nature, such as speech or physical therapy.
4. Consult with the Veterans Administration or your local Veterans hospital. Help may be available for a veteran and his or her spouse to offset the mounting costs associated with such care.
5. Contact your area agency on aging. Many agencies are strapped for cash, but may have some funding available for those eligible, some programs available for those who quality, or they may be able to steer you toward local groups that could help offset the costs.
6. Explore federal income tax credits for dependent care. To be eligible, families must incure expenses for an older dependent who is unable to care for himself or look for work.
7. Seek out assistance from your church, other local churches or nonprofits, particularly those dedicated to aging and disabled advocacy and assistance. In addition, they may know of affordable programs or special community day care programs, so don't just think in terms of funding.
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