Can I get paid for taking care of my disabled parents?

I take care of my disabled parents. Can I get paid somehow for being their caregiver?


Private Fiduciary, Trustee,Conservator, Financial Advisor

In some states, you can be paid by Medicaid to provide home care services.  Also, you can be paid by Long Term Care insurance as long as you qualify as a Home Health Aide.  Check with your area agency on aging on Medicaid home care waiver programs.

We at Care Giving Answers strive to provide helpful and relevant information to senior citizens and their families and... (more)We at Care Giving Answers strive to provide helpful and relevant information to senior citizens and their families and loved ones. The material provided through our site is made available for informational purposes only. In no way should users of our site rely or act upon any information provided herein without seeking appropriate professional advice (medical, legal or financial). Users should independently verify the accuracy, completeness and relevance for their specific purposes. The information provided through our site is not intended to constitute professional advice and in no way forms or constitutes a professional-client relationship of any kind.

Senior Advisor

The answer is not so much a yes or no.  It might be a strong maybe.  There are several ways to get paid as a caregiver. Let me list a few and go into some of them for you... State run programs  Long term care insurance VA Benefits (Aid and Attendance) Drawing up a personal care agreement (Caregiver... (more)

The answer is not so much a yes or no.  It might be a strong maybe.  There are several ways to get paid as a caregiver. Let me list a few and go into some of them for you...

State run programs 

Long term care insurance

VA Benefits (Aid and Attendance)

Drawing up a personal care agreement (Caregiver contracts)

Life settlements

Reverse mortgage

Dependent tax exemptions

State Run Programs - In some states, they have programs that help financially crunched people pay for a caregiver.  In certain circumstances that could even be a family member.  Sometimes these programs have restrictions, waiting lists and remember that this is the government, so funding comes and goes.  To see availability and to see if you might qualify, visit your local Medicaid or aging services department.  In Las Vegas your aging services department can be found at   http://adsd.nv.gov/

LTC Insurance - If your parents a have a policy, contact the company and see how to initiate the policy.

VA Benefits - Please visit one of my articles that I previously wrote about this.   http://caregivinganswers.com/questions/how-do-i-qualify-my-dad-for-va-benefits-and-what-are-those-criterias

Drawing up a personal care agreement (Caregiver contracts) - If your parents have some savings or other assets set aside, they may be willing to work out a caregiver contract to help pay for things.  Please consult with a lawyer to make sure that the contract meets all the right conditions.  You don't want that to come back and haunt you.

Life Settlements - If your parents have a life insurance policy, a portion of it could be used to pay for care.   For more information on items like this visit    http://www.lifecarefunding.com/

Reverse Mortgage - Self explanatory?  If not, visit our icon to better understand.  http://caregivinganswers.com/topics/reverse-mortgage

Dependent tax exemptions - If all fails... and this isn't going to help with money coming in, but look to add your parents on as dependents.

As you can see there are options out there.  Whether or not you qualify for them... is another thing.  

Hope this helps!  

We at Care Giving Answers strive to provide helpful and relevant information to senior citizens and their families and... (more)We at Care Giving Answers strive to provide helpful and relevant information to senior citizens and their families and loved ones. The material provided through our site is made available for informational purposes only. In no way should users of our site rely or act upon any information provided herein without seeking appropriate professional advice (medical, legal or financial). Users should independently verify the accuracy, completeness and relevance for their specific purposes. The information provided through our site is not intended to constitute professional advice and in no way forms or constitutes a professional-client relationship of any kind.