When a loved one who seeks to remain independent is in need of full-time care, it can be difficult to balance what they want with what they need. In home caregivers are a great way to strike a balance between the two. If you're considering in home care for your loved one but aren't sure how to pay for it, you may be surprised at the options that you have. Here's a look at a few things you can consider as you look for ways to cover the cost.

Private Insurance

Many people carry long-term care policies through private carriers. These policies usually include provisions for in home care. If your loved one has a policy like this, review the terms or talk with the agent to see if it allows for the services of a home caregiver.

Additionally, some life insurance policies accumulate a cash value that the policy holder can borrow against. If your loved one has a life insurance policy that has built up enough, you may be able to withdraw those funds to help pay for the cost of care.

Personal Assets

If your loved one doesn't have insurance, or the insurance doesn't cover the total cost, consider the assets that he or she may have available to liquidate. From retirement accounts to investment portfolios, you can cash in assets as needed to help pay for in home caregivers. Some people even find that taking out a reverse mortgage helps their loved one afford the care that they need without moving out of their home.

Public Programs

There are a variety of public programs available to help people of all income levels afford the care that they need. Check with your county or city government about Medicaid, veteran's benefits and cash benefit plans that might help your loved one pay for their care.

Other Care Options

Sometimes, there just aren't enough funds available to cover all of the costs for a full-time caregiver. In those situations, you may still be able to get your loved one the care that they need by looking to other sources. For example, local churches and nursing schools may be able to provide volunteer programs that will help you fill in those coverage gaps. There are also senior care centers and day-out programs that can help keep your loved one socially engaged and monitored without the need for around-the-clock in home care.

Watching an aging loved one reach the point where they are unable to care for themselves on their own can be difficult, but responding properly is key. With the options presented here, you'll be able to pay for the services of an in home caregiver to ease the transition and ensure that your loved one is safe and cared for. Talk with a provider like Accu-Care Nursing Service Inc for more options.