Discover Affordable Care Solutions with Trusted Senior Caregivers 

Understanding Costs and Funding Options 

The cost of home care for elderly seniors varies based on the type and level of assistance required, from a few hours of weekly companionship to full-time skilled nursing. Comfort Keepers^® offers guidance on funding options to make home care services for the elderly accessible. 

How Much Does In-Home Care Cost? 

The cost of home care for elderly seniors and senior caregivers depends on your personalized care plan. A Comfort Keepers Client Care Specialist will work with you to create a care plan that balances your care needs with your budget. As each office is independently owned, services and rates vary by location. 

Contact your local Comfort Keepers office for a detailed list of services and pricing in your area. 

Exploring Payment Options for Home Care 

You may not need to cover all home care costs out of pocket. Comfort Keepers can help you explore alternative funding sources, including: 

• Insurance Coverage: Your local office can assist in determining eligibility for care funding through personal or group insurance plans. 

• Government Programs: We can connect you with representatives from local government home care programs, such as Ontario Health atHome, to explore available support services. 

• Tax Relief Options: Certain costs may qualify for tax deductions, such as the Disability Tax Credit, Medical Expense Tax Credit, Caregiver Tax Credit, or Credit for Infirm Dependents, provided a medical practitioner recommends the service. Consult the Canada Revenue Agency or a financial advisor for specific advice. 

Maximizing these funding sources can help ensure your loved one receives the personal support they need without overwhelming financial strain. 

The True Cost of Family Caregiving 

While professional home care for elderly family members may seem costly, family caregiving often involves significant hidden expenses. As a family caregiver, you may: 

• Spend considerable time managing medical appointments, errands, meal preparation, and household tasks. 

• Reduce work hours or forgo promotions, impacting current and future income. 

• Juggle caregiving with other responsibilities, such as your job or family. 

These sacrifices can affect your financial stability and retirement savings. By hiring professional senior caregivers, you can maintain oversight of your loved one’s care while delegating time-consuming tasks. This allows you to focus on your own life with peace of mind, knowing your loved one is in capable hands. 

Reassessing the cost of professional care considering these factors may reveal it as a smarter financial choice than initially thought. 

Long-Term Care Insurance 

Long-term care insurance can help cover home care services for the elderly, preserving savings for extended care needs, such as living at home or transitioning to assisted living. However, premiums can be costly and often increase with age. Key considerations include: 

• Coverage Scope: Policies vary, with some covering specific care types (e.g., nursing homes) and others including home care for elderly seniors or assisted living. 

• Premium Costs: Ensure premiums remain affordable, especially after retirement. Consult a financial planner to evaluate affordability. 

• Elimination Period: Many policies require you to pay out of pocket for a set period before benefits begin. Longer elimination periods lower premiums. 

• Benefit Triggers: Understand how eligibility is defined, such as the inability to perform specific daily activities, including personal care. 

• Inflation Protection: Consider adding this rider to account for rising care costs over time. 

Compare policies carefully to ensure they meet your needs and budget. 

Get Personalized Support 

For help, contact your local Comfort Keepers office to discuss options and funding solutions for home care for elderly seniors tailored to your needs.