Additional Payment Options for Home Care Services
Covering the Cost of In-Home Care
At Griswold Home Care, it is our mission to make sure those who need home care services always have access to them. Financial status should not dictate the level of care you or your loved one receive – or whether or not you or they get care at all. That’s why we offer a variety of ways to pay for non-medical home care services. Check out some of our options below and then reach out to us if you have any questions regarding payment methods.
For families who have non-liquid assets and can convert them to help cover the cost of home care expenses, we have several options available. Home equity lines of credit, reverse mortgages, and Unison HomeOwner Agreements (an agreement that enables a homeowner to convert a portion of their home equity into cash) are real estate-based asset conversion programs that can provide financial solutions to seniors with long-term care needs.
In addition to these benefits, life settlements, death benefit loans, life care assurance benefits, and viatical settlements (the financial transaction of a life insurance policy from a life insurance policyholder, the Viator, to a third party, such as a viatical settlement provider) also offer a variety of methods for people to pay for in-home care services.
To keep seniors who qualify for Medicaid out of nursing homes and living comfortably at home, there are state-specific initiatives and programs that will help cover the cost of in-home care, as long as that care can be provided at a cost that would be less than a nursing home.
*Not available in all locations. Please call your local Griswold office to see if this option is offered.