happy senior couple saving money at home

Live Well at Home Blog

How to Maximize Your Personal Funds While Paying for Home Care

happy senior couple saving money at home

Learn how to pay for private duty home care.

More than likely, the time will come when your aging parents will probably need a little extra help in order to continue to be safe and independent, and if they are 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 accomplish paying for home care. The Roseville CA senior care team at Live Well at Home hears this question regularly, and we have the answers you need.

When it comes to covering the cost for in-home care assistance, generally services of a non-medical nature are paid for out of pocket. Therefore, examining your finances and identifying what assets are in place to assist in paying for home care services is necessary.

The Roseville CA senior care experts at Live Well at Home have put together a few helpful suggestions to allow families to get the most out of their personal funds in order to pay for home care. See if one or more of the options below is right for you:

  • Look for a professional financial planner. Financial planners offer direction and experience in determining which financial investments you can and should use to best pay for in-home care services.
  • Identify the value of any personal property, including antiques, art, collectibles, etc. that you may want to liquidate. Be certain to have each piece expertly appraised before selling so you’re sure to get a fair price.
  • Ask a tax analyst for assistance in determining how much revenue could be acquired 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 could be used to pay for home care.
  • Have a discussion with family members about a strategy for splitting the costs and duties of home care, to minimize the burden for any one person.

At Live Well at Home, we recognize how overwhelming it can be as you begin your search for Roseville CA senior care options, and identifying the options to pay for the care your loved one needs. If you have questions about home care services or how to pay for home-based care in Roseville and the Sacramento area, contact us any time at 916-459-3220 or simply complete our online contact form to obtain the resources and answers you need.

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