Caregivers are paid by the state, the family or an insurance company. This largely depends on the financial situation of the individual, his eligibility for in-state aid programs and the type of insurance coverage he holds.Know More
Depending on state laws and statutes, family members may qualify for payment by the state to provide care, particularly if the person is elderly or disabled and is classified as low-income and qualifies for Medicaid. Cash is also available from state programs other than Medicaid, which can be used to compensate personal caregivers. If the person needing care is a veteran, there are several home-based care programs funded by the state that hire and pay caregivers.
Another way to get paid for caregiving is by applying for tax breaks from the government. If a family member is able to prove that they are footing at least part of a loved one's bills, the state may provide a tax break, which in essence means more disposable income for the caregiver.
Finally, a person can be paid for offering personal care services to their kin by requesting a salary. To avoid pay dispute, a lawyer can be hired to draft a binding contract. Alternatively, if the loved one has a long-term insurance plan in place, family members can sometimes use part of the proceeds to pay themselves for the services rendered. Ultimately, the person needing care has to agree to compensate the caregiver.Learn more about Older Adults
According to the advocacy group Children's Rights, the amount paid to foster parents by the state depends on a number of factors, including the age and health of the child and the state in which the foster parent resides. Foster parents are generally paid a daily rate that is intended to cover room, board, food and other expenses.Full Answer >
The United States Department of Housing and Urban Development (HUD) website provides lists of units for senior citizens, assisted living housing and affordable units in each state. Many states, cities and counties also offer affordable housing information for seniors, often through local housing authorities.Full Answer >
In certain cases it may be possible to receive financial compensation for providing care to an elderly family member, according to the American Association of Retired Persons. Some possible options include state-administered programs such as Medicaid, which vary greatly depending on location; stipends sponsored by Veterans Affairs; or coverage from a private long-term care insurance policy.Full Answer >
Every insurance company, or underwriting company, that's licensed to conduct business in a given state is issued an NAIC number, which is short for National Association of Insurance Commissioners. No two companies share the same number.Full Answer >