Who Qualifies for Home Health Care Financial Assistance in Kentucky?

According to the Genworth Cost of Care Survey for 2021, home health care in Kentucky costs an average of $4,767 per month, which is lower than the national monthly average of $5,148. As the type of in-home care that provides more skilled medical care and therapy than other in-home services, home health care is more expensive than the monthly cost of $3,448 for assisted living. However, home health care is significantly less expensive than nursing home costs, which start at $7,178 per month.

There are numerous services typically included in the cost of home health care, including skilled nursing, wound care, physical therapy, assistance with maintaining various medical devices, occupational therapy, and much more.

Seniors who require home health care services, but are unsure if they can afford the monthly average of $4,767 out of pocket, have several options to reduce care costs or have them covered entirely. Medicare and Medicaid are the most commonly sought out options, since beneficiaries can always have home health care costs covered, as long as they meet the financial and medical eligibility requirements. For seniors who served in the military, veterans benefits are an extremely viable option. Along with their VA pension, many veterans qualify for the Aid and Attendance benefit, an extra monthly payment for long-term care, because a key eligibility requirement is needing assistance with one or more ADLs.

In some cases, seniors can use their insurance policies to reduce the cost of home health care services. While many standard health insurance policies will not cover personal care assistance, it is possible to use some long-term care policies to help with home health care costs. While there are many factors to consider, the key variable in determining eligibility is the beneficiary’s age when he or she signed up for the policy. Additionally, in rarer cases, it is possible for a life insurance beneficiary to access his or her funds early and use them to pay for long-term care. The cash payment could be gained as an early benefit from an insurance provider or through selling the policy to a third party.