The 5 Best Home Care Agencies for Seniors in Traverse City, MI for 2024

Caring.com offers a free service to help families find senior care and authentic reviews to help you in your decision. On average in Traverse City, MI, residents and their loved ones rate In Home Care agencies 4.8 out of 5 stars across the 7 options below.

According to Genworth's 2021 Cost of Care Survey, home care costs in Traverse City, which run an average of $5,148 per month, stand in the middle of the cost spectrum. While the city’s rates are higher than the national average of $4,957, they fall significantly below the Michigan state average of $5,529. Some Michigan cities charge higher rates than Traverse City. Rates in Detroit are 11.1% higher than those in Traverse City, and Grand Rapids’ costs are 7.4% higher. Bay City and Saginaw, however, show less expensive prices at $4,957 and $4,195, respectively.

Traverse City’s seniors have many care options to choose from. Adult day programs are least expensive at $1,625 per month. Assisted living is also less expensive than home care by $688 per month, but it does require a move. Home care may be right for people who need help with personal care and housekeeping, but those who require light medical care may want to pay $191 more for home health care. Nursing home care offers the highest level of service but is also the most expensive care type at $8,821.

Given the high cost of in-home care, many people use one or more forms of financial assistance to cover the expenses. Below, we explain some of the most common sources of financial help to pay for in-home care. If none of these options are available to you, you can reach out to your Area Agency on Aging or Aging and Disability Resource Center to learn about local resources.

• Long-Term Care Insurance: Long-Term Care Insurance covers expenses related to senior care, including in-home care. Depending on the policy type, beneficiaries may receive a cash payment to use towards long-term care or reimbursement for qualifying long-term care expenses. Note that there are limitations, typically a maximum benefit of $150 per day, and exact coverage terms vary depending on the exact policy, so always check the details.
• Medicare: Medicare does not cover in-home care because it is classified as custodial or nonmedical care. However, some Medicare Advantage and Medicare Supplement plans, which offer expanded benefits, may cover in-home custodial care.
• Medicaid: Medicaid coverage of in-home care varies between different states because it is not a federally mandated benefit. Currently, all states cover some in-home care services either through their standard Medicaid or a waiver program. The specific coverage rules are set individually by each state.
• Veterans' Benefits: The Aid and Attendance benefit is a monthly cash payment that beneficiaries can use to pay for senior care, including in-home care services. To qualify for A&A, Veterans must already receive the VA pension and meet several additional requirements, including needing assistance with activities of daily living. Contact the Department of Veterans Affairs to learn more.
• Reverse Mortgages: Home Equity Conversion Mortgages (HECMs) are federally insured loans that are available to homeowners age 62 and over. Reverse mortgages allow you to access a tax-free portion of your home's equity in cash. Many seniors use reverse mortgages to finance their care expenses, including in-home care. Note that although there are no monthly payments due on reverse mortgage loans, borrowers have to repay the loan once the last surviving homeowner passes away, moves, or sells the home.