Most families pay for home care out of savings — but a surprising number are sitting on a policy or a benefit that could carry part of the cost. Here are the three we help families use most, plus the one everyone asks about.
1. Long-term care insurance
If your parent bought a long-term care (LTC) policy — often decades ago — it very likely covers in-home care, not just a facility. Two terms to look for on the policy:
- Elimination period: the number of days of care (often 30–90) you pay for before benefits begin.
- Daily or monthly benefit: the maximum the policy pays per day or month of care.
- We handle the claims paperwork with families — care logs, invoices and the forms carriers require — so the benefit actually gets paid.
2. Life insurance
Some life insurance policies can help fund care while your parent is living:
- Accelerated death benefit riders pay out a portion of the death benefit early for chronic or terminal illness.
- Hybrid life/long-term-care policies are designed exactly for this.
- A policy can sometimes be sold (a life settlement) or its cash value borrowed against. These have real trade-offs — talk to the carrier or a fee-only advisor before deciding.
3. VA benefits
Veterans and surviving spouses may qualify for the VA’s Aid & Attendance benefit, a monthly payment that can cover a significant portion of in-home care. Many families have never heard of it. We help families check eligibility and get the application started — whether or not they ever use us for care.
What about Medicare and Medicaid?
Original Medicare generally does not pay for ongoing non-medical home care. It can cover short-term skilled home health after a hospital stay, which is a different service.
Medicaid is state-run. In Tennessee, TennCare CHOICES is the Medicaid long-term care program, and our Memphis and Nashville offices both accept it. Eligibility is income- and care-need based, and we can help you find out whether your loved one qualifies.
Putting it together
Families often combine sources: a few private-pay hours now, an LTC claim once the elimination period is met, VA benefits layered on top. The place to start is knowing the real cost of the care you actually need — then matching sources to it.
Want help sorting out what applies to your family?
Call us and ask — we’ll walk through insurance, VA benefits and payment options with straight answers, no obligation.
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