Financial Resources for Family Caregivers and Care Partners
Financial concerns are one of the top stressors for your loved one and for you as the Care Partner. I know that when my husband became ill, I needed to retire. This was not planned, but as we know, life changes, and we all must adjust.
I am NOT a financial expert or qualified to advise, but I can share some general information provided by Medicare and AARP.
For individual support and guidance, please get in touch with a financial consultant.
Resources available…
AARP: Getting Financial Assistance for Caregiving Is Not Easy — but It's Possible
How to Get Financial Assistance for Caregiving (aarp.org)
Oct 21, 2019 · There are resources for families who need caregiving help You Can Get Paid as a Family Caregiver Medicaid and veterans’ programs can help alleviate the financial burden of family caregiving
Free hotlines
Nonprofit organizations such as AARP have toll-free support lines to provide answers to questions, make referrals and point to resources for caregivers.
877-333-5885
7 a.m. to 11 p.m. ET weekdays
Spanish language: 888-971-2013
also 7 a.m. to 11 p.m. weekdays.
800-272-3900
advice on Alzheimer's and other dementia
24 hours a day every day.
866-901-4858
advice on dementia, finances, and senior housing
7 a.m. to 11 p.m. ET
USA.gov…
Get paid as a caregiver for a family member | USAGov
If someone with a disability already receives Medicaid, their state may allow a family member or friend to become a paid caregiver. Many states call this a consumer-directed personal assistance program. Each state has different requirements and rules. Contact your state’s Medicaid office for more information.
Some government programs pay family or friends of people with disabilities to help with daily activities including personal care, giving medicine, cooking, cleaning, and more.
State Medicaid programs
If someone with a disability already receives Medicaid, their state may allow a family member or friend to become a paid caregiver.
Many states call this a consumer-directed personal assistance program. Each state has different requirements and rules. Contact your state’s Medicaid office for more information.
Long-term care insurance
Some long-term care insurance policies allow family members to get paid as caregivers. Contact your insurance agent and ask for written confirmation of benefits.
Veterans’ programs
There are two programs available for veterans:
The Veteran-Directed Home and Community-Based Services program offers veterans a flexible budget. With the help of a counselor, veterans may be able to hire a family member to help with daily living and activities.
Aid and Attendance Benefits program provides monthly payments and a monthly VA pension for qualified veterans and survivors. These benefits help cover the costs of a caregiver, who may be a family member. Find your area’s VA pension management center to see if you qualify.
LAST UPDATED: December 6, 2023
Again, I am not a financial advisor, but the above information was helpful and hopefully gets you on the right path.
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