Innocent Onwubiko is the owner of Successful Aging, a home care facility for seniors in Pennsylvania. In the following article, Innocent Onwubiko explores some of the options that can help seniors afford home healthcare, what types of services are available, and how to access them. Innocent Onwubiko will also explain some of the costs associated with aging in place, as well as alternatives for funding those costs.
It's no secret that the cost of healthcare is on the rise in the United States. But for seniors, the high cost of care can be especially prohibitive. Many retirees want to age in place but find that they can't afford to do so without help.
Innocent Onwubiko on What is "Aging in Place" Home Healthcare
Innocent Onwubiko explains that "aging in place" home healthcare refers to the ability of seniors to continue living in their own homes for as long as possible, even as their health needs change. This can involve a wide range of services and supports, including medical care, social activities, transportation assistance, and more.
There are many benefits associated with aging in place. For one, it can help seniors maintain their independence and sense of self-sufficiency. It also allows them to remain in the familiar surroundings of their home, surrounded by friends and family, as opposed to being placed in a nursing home or other long-term care facility.
But Innocent Onwubiko of Successful Aging says that growing older at home does come with certain challenges, especially in terms of cost. Home healthcare services can be very expensive, and the costs associated with maintaining a home can also add up over time.
Funding Home Healthcare
There are a number of options that can help seniors fund home healthcare while they age in place. Some of these include:
Medicare and Medicaid
Medicare and Medicaid are two government programs that offer financial assistance to seniors. Innocent Onwubiko of Successful Aging says that Medicare generally only covers medically necessary services, such as doctor visits or hospital stays. Meanwhile, Medicaid tends to be more flexible in terms of what it will cover, but eligibility requirements can vary from state to state.
By using these two programs together, it is possible for seniors to cover a large portion of their home healthcare costs that would otherwise be unaffordable.
Insurance Coverage
Another option for funding home healthcare is to take out medical or long-term care insurance. Innocent Onwubiko of Successful Aging explains that these policies typically cover both inpatient and outpatient services, as well as hospice care and other forms of support. Depending on the policy in question, this coverage can range from basic to comprehensive.
However, one thing to keep in mind is that it may take some time for an insurance claim to be processed. Therefore, it's important to be prepared for any out-of-pocket costs that might arise during this time.
Caregiver Support Programs
Many communities offer caregiver support programs or respite care services. These programs can provide financial assistance to seniors who need help with things like home cleaning, meal preparation, or transportation to appointments.
As with insurance coverage, Innocent Onwubiko of Successful Aging says that there may be a slight delay in accessing these services, so it's important to plan ahead and have a backup plan if needed. But overall, caregiver support programs are a great way for seniors to manage the costs associated with home healthcare while aging in place.
Government Assistance Programs
In addition to Medicare and Medicaid, there are also a number of other government assistance programs that seniors may be eligible for explains Innocent Onwubiko of Successful Aging. These include things like
food stamps or housing subsidies, which can help cover the costs associated with maintaining a home.
It's important to note that most government assistance programs have strict eligibility requirements. For example, seniors may need to have a certain level of income or assets or require help with a specific type of medical condition that proves their need for assistance.
Charitable Donations
Innocent Onwubiko of Successful Aging says that another option for funding home healthcare is to reach out to your community or local organizations for help. Many charitable organizations and nonprofits offer financial assistance to seniors who require additional support while they age in place.
These donations can come in many different forms, such as cash grants or in-kind contributions, and can be used to cover a wide range of services and expenses.
Final Thoughts
Overall, Innocent Onwubiko of Successful Aging explains that there are many different strategies that seniors can use to fund home healthcare while aging in place. By working with their doctor or other trusted professionals, they can find the right combination of options that works best for their unique situation. And by doing so, they'll be able to enjoy all the benefits of aging in place while remaining safe, healthy, and happy.
