paying for home care

Funding Options for Home Care Services

Ensuring that your loved ones receive the best possible home care can be a financial challenge. At Compassion Network Home Care, we understand the importance of accessible care and strive to provide information on various funding options available to help cover the costs of home care services. Below are some common funding sources and programs that may assist you in managing home care expenses.

Government Programs and Subsidies

Alberta Health Services (AHS) Programs

• AHS Home Care Services
  ‍Alberta Health Services (AHS) offers publicly funded home care services for eligible individuals. This can include personal care, nursing, and respite care. This is usually the first option to explore for individuals seeking home care for the first time.
• Self-Managed Care Program
  ‍This program provides funding to AHS clients who prefer to manage their own care services. Eligible individuals receive funds to hire their own caregivers and manage their care directly.
• Client Directed Home Care program
  ‍This new AHS program allows home care clients to choose their own home care provider. Home care providers like Compassion Network Home Care will direct bill AHS and manage the delivery of care, taking the administrative burden off of clients. Talk to your AHS Case Manger about this program.

Federal Programs

• Veterans Affairs Canada
  ‍Offers a range of home care services for eligible veterans, including personal care, housekeeping, and medical services through the Veterans Independence Program.

Private Insurance

• Long-Term Care Insurance
  ‍Many private insurance companies offer long-term care insurance plans that cover home care services. These plans can help pay for personal care, skilled nursing, and other home care needs.
• Health Insurance
  ‍Some health insurance plans may cover certain aspects of home care, such as skilled nursing services. It is important to review your policy and speak with your insurance provider to understand what is covered.

Employer-Sponsored Programs

• Employee Assistance Programs (EAP)
  ‍Some employers offer Employee Assistance Programs that provide financial support for home care services. Check with your employer to see if such programs are available.
• Flexible Spending Accounts (FSA)
  ‍FSAs allow you to set aside pre-tax dollars to pay for eligible medical expenses, including home care services. This can help reduce the overall cost of care.

Tax Credits and Deductions

• Medical Expense Tax Credit (METC)
  ‍The METC allows individuals to claim eligible medical expenses on their tax returns, which can include home care services. Consult with the CRA or a tax advisor to understand which expenses qualify and how to claim them.
• Disability Tax Credit (DTC)
  ‍Provides tax relief for individuals with severe and prolonged impairments, which can help offset some home care costs.
• Canada Caregiver Credit (CCC)
  ‍This tax credit provides financial relief to individuals who care for a family member with a physical or mental impairment. It can help offset some of the costs associated with home care.

Financial Planning and Advice

• Professional Financial Advice
  ‍Consulting with a financial advisor can help you explore various funding options and develop a plan to manage home care expenses. Financial advisors can provide valuable insights into maximizing available resources and ensuring sustainable care funding.