Other Payment Options

For families who might not have access to Veterans Benefits or Long Term Care Insurance, there are other options that can help pay for long term private duty care:

  1. Many families choose to spread the cost of care for a loved one across several members of the family to help share the financial responsibility.
  2. Another viable option to consider is converting a non-liquid asset, such as a home, through a reverse mortgage program.
  3. A home equity line of credit, or some other form of real estate conversion, could also be considered as an alternative.
  4. Life insurance policies offer another avenue to convert non-liquid assets through a life settlement or death benefit loan program.
  5. In some cases, using a combination of Social Security benefits, private pensions, savings, home equity, and life insurance may be the best alternative to provide in-home care.

Ultimately, planning a consultation with an expert is your best option. Your local Client Care Liaison is well-informed on financial alternatives, conditioned to the sensitivity of health care costs, and available to help 24/7. You can contact your Client Care Liaison directly, or submit a question on our Expert Advice page.