4 Places Caregivers Can Look for Financial Assistance

Family caregivers may find ways to get paid.

by Lynn Wilson, Founder of The CareGiver Partnership

In recognition of National Family Caregiver Month in November, The CareGiver Partnership is publishing a series of articles that focus on making the family caregiver’s job easier. Here are four places caregivers can look for financial assistance.

Caregivers often begin helping out of the goodness of their hearts, then quickly realize how expensive it can become. Taking care of a family member or friend is not only physically and emotionally draining, it can take a financial toll, too. While some family caregivers are reimbursed through traditional payment, long-term care insurance or by receiving a larger portion of a loved one’s estate, many others must look elsewhere.

A caregiver seeking financial assistance can start with these four areas:
  • Caregivers who pay at least half the expenses of a parent whose annual income is less than $3,900, not including Social Security payments, may be able to receive a tax break by claiming the parent as a dependent.
  • A caregiver who cannot claim a parent as a dependent, but who pays at least half of a parent’s living expenses, may receive a tax break if costs exceed 10 percent of the caregiver’s adjusted gross income. If the caregiver is age 65 or older, the amount need only exceed 7.5 percent of adjusted gross income.
  • Some U.S. veterans may be eligible to enroll in assistance programs that allow them to manage and pay for their own in-home care. Eligibility requirements include needing assistance with daily living activities and having income and assets below determined amounts.
  • Seniors who are low-income and eligible for Medicaid may receive a small amount of state aid to pay caregivers. Some states offer other aid options to seniors who don’t qualify for Medicaid.
For assistance in accessing services for older adults, contact the Eldercare Locator at 1-800-677-1116. Visit The CareGiver Partnership for free access to a Caregiver Resource Library and hundreds of articles of interest to seniors and caregivers.

About The CareGiver Partnership. The CareGiver Partnership helps caregivers and their
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loved ones with answers to their caregiving questions, including information about home health care products and supplies, from our Wisconsin-based team of Product Specialists who are all current or former caregivers. The company’s Web site provides the largest online library of resources on subjects most important to caregivers — from arthritis to assisted living, and Parkinson’s to prostate cancer — as well as access to more than 3,000 home care products for incontinence, skin care, mobility, home safety and daily living aids. The CareGiver Partnership was founded in 2004 by Lynn Wilson of Neenah, Wis. Visit http://www.caregiverpartnership.com to learn more or call 1-800-985-1353. Help support this ad-free blog by answering several questions about caregiving here. It will take just two minutes.

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