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Payment Options for Alzheimer’s Care

Public, private and community-based sources can help with your loved one’s costs.

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This article is based on information provided by Home Instead Senior Care.

Information is key when it comes to finding the most suitable payment options for your loved one’s Alzheimer’s care. Because coverage varies depending on the source and your personal situation, it is important to fully explore available offerings before you make a decision. You can consider public, private and community-based sources. Keep in mind that the type of care your loved one needs, and the accompanying costs, may change over time, as Alzheimer’s is a progressive disease. 

You may want to first look into possible options for the coverage of home care costs. This could be most suitable to your current situation if you are among the 70 million people who provide unpaid care for a family member or friend. Examine how choosing home care would compare to the cost of home health care, assisted living and other services. Medicare will pay for some of these services, although not home care. However, as most caregivers know, the senior is still responsible for a heavy portion of the expenses.

Costs of care are most commonly covered through:

· Personal and family resources.

· Private insurance.

· Medicare, Medicaid, Department of Veterans Affairs, and Title programs.

· Community-based services.

Long-term care insurance can pay costs for home care, as well as for a nursing facility, and many policies also cover assisted living, although no policy will pay the entire cost of any of these. People usually pay premiums for 20 or 30 years before reaching an age when long-term care is likely. Long-term care insurance is meant to lower out-of-pocket costs for older adults who require long-term care from a paid provider. It could very helpful in minimizing your loved one’s expenses.

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