Approximately 65 million Americans serve as caregivers to disabled or ill relatives annually. Caring for a sick relative can be extremely stressful and time-consuming. In some cases, the amount of care your aging relative needs may require you to stop working a full-time job. One of the main problems you face when becoming a full-time caregiver to a family member is the loss of income.
Instead of allowing yourself to get overwhelmed due to a lack of income, you need to seek out ways to get paid for being a caregiver to a senior loved one. Luckily, there are a number of programs designed to help caregivers get money for the services they provide. The following are some of the ways you can get paid for taking care of an elderly loved one.
Check Out the Self-Directed Services Programs Offered By Medicaid
When trying to get money for your caregiving services, one of the first things you need to do is assess your elderly loved one’s eligibility for Medicaid. This government-run healthcare provider has a variety of programs that are designed to help both elderly individuals and their families. The self-directed programs offered by Medicaid allow elderly people who qualify to use the money they are allotted on a variety of pre-approved expenses.
One of the ways this money can be spent is on caregiving services. This means that your elderly loved one will be able to pay you for your time, which can minimize your financial burden. If you want to assess your elderly loved one’s eligibility for these programs, then the best place to start is at your local Medicaid office.
Does Your Employer Offer Paid Leave for Caregivers?
Before you quit your existing job to become a full-time caregiver for an ailing relative, you need to see if temporary paid leave is offered for people in your situation. A recent study found that over 16% of private companies in the United States offered this type of paid leave for their employees.
This is why you need to speak with your employer to find out more about the programs they may have in place. While the paid leave may be for an allotted amount of time, it will still provide you with some form of income during this transitional phase.
Is Your Aging Loved One Eligible For Veterans Aid?
The United States government has created numerous programs over the years to directly help aging veterans. One of these programs, known as the Veteran Directed Care Program, allows veterans to manage their own care. This means that they can use the money from this program to pay a relative that is acting as their caregiver. If your elderly loved one has served in a branch of the Armed Forces, then you need to apply for this program. Contacting your local Veterans Affairs office is the first step in submitting this application.
If you want to find out more about caregiving services and how much they cost, the team at River Oaks Homecare is here to help.