Home care is a necessity for all seniors, it includes any professional services that allows an individual to live safety in their home. The cost for home care can be expensive, especially when viewed on the long-run.
Based on stats by Genworth Financial, home care costs an average of approximately $24 an hour. Thus, if you need home care 20 hours a week, you’ll need to dole out an average of $1,950 a month. Though this is less expensive than assisted living, which costs an average of $4,051 a month, home care cost can dwindle a senior’s finances significantly. For this reason, it is important that seniors or individuals in need of home care need to consider Medicaid.
What is Medicaid?
Medicaid is an assistance program designed for low-income individuals of every age. Medicaid enrollees usually pay no part of costs for covered medical expenses, which is why it’s considered as the best alternative to long term care.
While Medicaid is deemed free, sometimes, you may be required to pay a small co-payment to cover the cost. Medicaid is a federal-state program. The eligibility requirement differ from state to state. It is operated by state and local government within federal guidelines.
Who is Eligible for Medicaid?
Not everyone is eligible for Medicaid. This government-funded program is designed for the following people:
- Individuals with disability
- Pregnant women
- Low-income families and children
- Certain old adults who use Medicare
How much does Medicaid cost?
For most health care services, you won’t have to pay anything, or you’ll have to make a little copayment at the time of your visit. Most times, you show your Medicaid coverage card, and the state pay the entire cost of your care to your doctor directly.
Some states, based on federal waiver, charge a monthly premium for some eligibility groups.
What is Home Care?
When an individual needs help on a regular basis, home care provides an ideal solution. Home care enables individuals who have special needs (like people with a disability, people with chronic illnesses, or seniors) to recover from illness or injury, or just maintain a sense of independence as they age while residing in their homes.
Home care comes with almost all type of care required, from personal care ( like help in doing house choirs, getting dressed, etc.) to health care ( like care for chronic illness offered by a home health aide). How home care services are paid for hinges on the type of care received. Post-Acute care is covered by insurance plan while assistance with domestic tasks is settled for out of pocket.
Is home care covered by Medicaid?
Medicaid is a federal and state program that covers health care services, one of which is home care. Today, the types of services covered by Medicaid for persons living at home goes well beyond simple home health care. But, to provide a detailed list can be misleading. This is simply because the benefits hinges on both the state in which the beneficiary lives and the type of Medicaid coverage they are getting. Below are some of the types of home care covered by Medicaid.
- Home health care
- Home maker services
- Adult day care
- Home care/personal care
- Family and caregiver support
- Hospice care
Do you need an Elder law attorney?
If you need an elder law attorney for matters regarding your elderly loved one, don’t hesitate to call our office. Or if you are a senior and you need help with applying for Medicaid, you can also contact us for assistance.
In addition, in the event that your assets and income are above the threshold, signaling your ineligibility for Medicaid, you can contact us if you wish to set up a Medicaid Asset protection Trust. However, you must have the Medicaid look back period in mind. This means that, after placing your assets in this trust, you are to wait for the next 5 years before applying for Medicaid to avoid any form of sanction.