How Seniors in & Near Santa Cruz, CA Can Pay for Home Care

Our elderly loved ones may need more help with basic self-care and housekeeping as they become older. Families in Monterey and Santa Cruz Counties may rely on Visiting Angels Central Coast for caring and competent home care services. Since 2004, Visiting Angels Central Coast has been an expert in creating individualized plans of care that enable seniors in Scotts Valley, Watsonville, Marina, Carmel, Santa Cruz, Aptos, Salinas and the surrounding communities to get the support they need without leaving the comfort of their own homes.

Keep in mind that Visiting Angels Central Coast does not take Medicare, Medicaid, or private health insurance because we are a private pay home care provider. Although this may be an issue for some families, there are many options available to help seniors and their families with the costs of professional home care.

Solutions to Pay for Professional Home Care in Santa Cruz, CA and Surrounding Areas

The average monthly cost of home care in the Central Coast region of California is $7,245, according to the Genworth Cost of Care Survey. This can add up quickly, especially for older people who need care often or all the time. There are, however, ways that families in Santa Cruz and Monterey Counties can lower the cost of professional home care for their senior loved ones.

To help cover the expense of in-home care, seniors may take advantage of a number of programs and solutions. You could check out any government programs or perks that might be out there, like the Veterans Administration's (VA) payments. Another option for seniors looking to pay for home care services is to use their own assets and finances. Reverse mortgages, Home Equity Line of Credit (HELOCs), life insurance settlements, long-term care insurance, and consulting a financial advisor are some additional potential avenues to consider while looking for assistance in paying for a professional caregiver.

Reverse Mortgages and HELOCs

Home Equity Line of Credit (HELOC) and reverse mortgages are two ways for older adults in Santa Cruz and Monterey Counties to get the money they need to pay for professional home care. Both programs allow seniors to borrow against the equity in their houses, either all at once or over time, to pay for the care they need. Home equity lines of credit (HELOCs) and reverse mortgages are available to seniors who meet certain requirements, including a high level of home equity and being at least 62 years old. They also need to attend financial counseling sessions so they can fully grasp the loan's terms and conditions.

Reverse mortgage counselors that can help seniors in Santa Cruz and Monterey Counties include Dan Casagrande, Santa Cruz Lending Group, Financial Solutions Home Loans and Central Coast Capital.

Senior Settlements from Life Insurance Policies

Disbursements from a life settlement account, often called a senior settlement, may be available to seniors with a shortened life expectancy who are not terminally ill. An elderly person may get the money they need to pay for in-home care services by selling their life insurance policy. Prior to making any choices, families should thoroughly review the senior settlement's terms and circumstances.

Brokers who can assist seniors in Santa Cruz and Monterey Counties with the process include Harbor Life Settlements, Life Settlement Solutions and Magna Life Settlements.

Long-Term Care Insurance

For seniors in Santa Cruz and Monterey Counties looking for a way to cover the costs of professional home care, long-term care insurance is another viable solution. Costs for personal care and help with Activities of Daily Living (ADLs) may be covered by this type of insurance.

Because rates and coverage might differ from policy to policy, seniors and their families should shop around for the best insurance for their needs. For example, if you feel your loved one's long-term care needs will last longer than the benefits outlined in their policy and they're currently enrolled in Medi-Cal, you may want to consider a policy that is eligible for the California Partnership for Long-Term Care program. Partnership policies exempt any benefits the policy holder receives from the Medi-Cal asset limit and from Estate Recovery.

Some local long-term care insurance providers in Santa Cruz and Monterey Counties include Barbara Hanson, CLTC, Global Atlantic Financial Group and Knights of Columbus.

Benefits from the Veterans Administration

Veterans Administration pensions and benefits may be available to seniors veterans and their surviving spouses. The Aid & Attendance program is one option for funding professional home care services. Veterans who are unable to care for themselves or who need assistance with ADLs are eligible for financial aid via this program.

Aid and Attendance is only available to veterans who have served at least 90 days of active service, with at least one day spent fighting for their country. Additionally, they should have a minimum of two ADLs, such eating, dressing, or bathing, that they need help with.

To apply for benefits, veterans can contact the Veterans Administration or visit their local Veterans Service Office, like the Santa Cruz County Vet Center, the Santa Cruz County Veterans Services Office or the Monterey County Veteran’s Service Office.

Speaking with a Financial Planner

When trying to figure out how to pay for expert home care services, families may also consult with financial planners. In order to ensure that elders have enough money to pay for home care, a financial planner may provide them helpful guidance on how to budget and manage their assets.

Seniors in Santa Cruz and Monterey Counties should look into working with local financial planners like Natural Bridges Financial Advisors, Lanai Financial Solutions, Central Coast Financial Management and First Pacific Financial Services.

How Visiting Angels' Personalized Approach Makes Home Care More Affordable in Santa Cruz and Monterey Counties

We at Visiting Angels Central Coast know how important it is to provide seniors in Santa Cruz and Monterey Counties with affordable care. Therefore, we customize our care plans to each individual's schedule, preferences, requirements and other circumstances. Home care costs may be better managed by families when services are customized to meet the specific needs of their elderly loved ones.

Professional home care services may be expensive, but there are many options available to families in Scotts Valley, Watsonville, Marina, Carmel, Santa Cruz, Aptos, Salinas and nearby communities to cover the expense. At Visiting Angels Central Coast, we want to help families find the best way to pay for the care their loved ones need, whether it's through government programs, personal funds, or looking into other payment choices.

Contact Visiting Angels Central Coast by calling 831-430-0616 or filling out our form to request a free in-home consultation!