Financing Home Care

Paying for Home Care

Common Financial Concerns about Senior Care

Many people assume that the care they need as they age will be provided to them through Medicare or their private health insurance. This is a common misconception. Medicare and health insurance cover important therapeutic and curative services that are meant to treat particular health issues, but these medical issues can create care needs that extend beyond covered medical services.

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When someone is living with a health condition or chronic illness, they often experience difficulty with the basic activities of daily life, such as meal preparation, grooming, bathing, getting dressed, etc. Home care services are meant to provide for these needs, which fall outside of medical care a person receives to treat an illness or injury. These home care services, such as those provided by Homewatch CareGivers®, are not covered through private or public health insurance, except in the relatively rare cases of Medicare Advantage eligibility or for those who qualify through Medicaid.

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the financial aspects of our senior care franchise opportunity.
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Invest in a Unique Opportunity
in the Senior Care Industry

  • Growing Older Population The U.S. Census Bureau predicts that people over the age of 65 will comprise about 20% of the U.S. population by 2030.
  • Increasing Care Needs About 70% of people age 65 or older will need long term care services in their lifetime. (2012 U.S. Department of Health and Human Services)
  • Rising Workforce Direct-care workers, including CNAs and home health aides, are listed among the top five fastest growing occupational segments by the U.S. Bureau of Labor Statistics.

Who Pays for Home Care?

Predominantly, individuals receiving home care services pay privately out of pocket, using cash resources or other liquid investments they have saved for retirement living expenses. Home care is also covered by Long Term Care insurance, Medicaid (for those who qualify), Veterans Aid and Attendance Benefits, and sometimes through grants provided by local non-profits and disease organizations. The majority of the clients of Homewatch CareGivers or any home care agency pay privately or through their Long Term Care insurance policy.

The cost of home care varies based on the regional cost of living, the breadth of services provided, and the quality and training of the caregivers providing care. For most people, the amount of home care they need to remain safe and comfortable at home can be more affordable when provided through regularly scheduled in-home caregivers than by living full-time in an assisted living or skilled nursing facility.

Because more people choose to age in the comfort of their own home—along with shifts in the economy and health care systems—individuals are increasingly paying out of pocket and using Long Term Care insurance to pay for home care services.

Find out more about our home care franchise opportunity and how you can help provide highly qualified, affordable home care to seniors in your community.
Call (844) 220-0887 today!

Let's Hear from Our Franchise Owners

  • Homewatch CareGiversHomewatch CareGivers

    "I selected Homewatch CareGivers because of their emphasis on education."

  • Homewatch CareGiversHomewatch CareGivers

    "I really felt that the integrity and honesty of the Homewatch CareGivers made me feel very comfortable and moving forward ..."

  • Homewatch CareGiversHomewatch CareGivers

    "I get to work with people who don't necessarily get the help they need… and I'm able to help them. I think it's a great thing ..."

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