Also known as paying “out-of-pocket,” private pay means your loved one or their family will use existing savings and assets to cover the cost of elderly care services. Private pay is one of the most common forms of payment and is accepted by nearly every elderly care service, including Caring Matters Home Care. In fact, it can be the only form of payment that’s acceptable in certain cases, including nursing and assisted living homes.
Especially if your loved one requires long-term care or specialty services, determining if they can afford it using only private pay can be difficult. Before researching elderly care options, you should first get a good understanding of their finances.
When determining finances, be sure to take into account:
Family members can also contribute to private pay. In addition to private pay, Caring Matters Home Care is also a Medicaid provider. Call
1-888-280-7552 today to see if Caring Matters Home Care can assist you.