First Care Of New York is a New York State Licensed Homecare Service Agency which has a special division focused on Private duty home care services. At First Care we have the knowledge and expertise to make your transition to home care as smooth as possible.
We Accept the following Private Duty Payment Options:
Out of Pocket
Out-of pocket payment (also referred to as ‘Private Pay’) involves using personal income and assets to pay for services and supports, for either at-home or residential care. Income may come for a variety of sources: employment, pensions, social security, interest, dividends, as well as bank accounts, IRA’s Certificates of Deposits, stocks, bonds, and real estate.
Long-Term Care and related types of Insurance:
An insurance product that is sold which helps provide for the cost of long term care beyond a predetermined period. Long-term care insurance covers care generally not covered by health insurance, Medicare or Medicaid.
Individuals who require long-term care are generally not sick in the traditional sense, but instead, are unable to perform the basic activities of daily living (ADLs) such as dressing, bathing, eating, toileting, continence, transferring (getting in and out of a bed or chair), and walking.
Age is not a determining factor in needing long-term care. About 60 percent of individuals over age 65 will require at least some type of long-term care services during their lifetime. About 40% of those receiving long-term care today are between 18 and 64. Once a change of health occurs long-term care insurance may not be available.
If home care coverage is purchased, long-term care insurance can pay for home care, often from the first day it is needed. It will pay for a visiting or live-in caregiver, companion, home health aide, housekeeper up to 7 days a week, 24 hours a day (up to the policy benefit maximum).
Example of Insurance Carriers (Only listed are a few but many exist) – AARP, John Hancock , MassMutual, Mutual of Omaha, Prudential, MedAmerica, LifeSecure
Reverse Mortgage :
A reverse mortgage (or lifetime mortgage) is a loan available to seniors aged 62 or older, per HUD - Housing and Urban Development, and is used to release the home equity in the property as one lump sum or multiple payments. The homeowner's obligation to repay the loan is deferred until the owner dies, the home is sold, or the owner leaves, they can be out of the home for up to 364 consecutive days.
Its another vehicle available if one qualifies to obtain funds based on ones home equity to have available to pay for their homecare services
To find out more information about assisting yourself or a love one with private duty home care, feel free contact us at 718-741-5950 and speak to a private duty specialist.
Let First Care Of New York demonstrate why we live by our motto “We pick up where others leave off”.