My parents, both 89, want to die at home — but even between 5 siblings, we can’t afford 24/7 care. What are our options?
Moneywise featured Stefanie L. DeMario-Germershausen in coverage examining the financial and practical challenges families may face when aging parents want to remain at home through the end of life.
DeMario-Germershausen, an estate planning attorney and partner at Angiuli & Gentile, LLP, explained an important distinction between Medicare and Medicaid when families are evaluating how to pay for care. The article notes that Medicare’s hospice benefit can provide significant support once a physician determines that a terminally ill patient meets the eligibility requirements. Covered services may include nursing and aide visits, medications, and equipment related to the terminal illness.
The coverage also explains that Medicare generally does not pay for the routine custodial care many older adults need before reaching hospice eligibility. Medicaid may help cover certain forms of home care for people who meet its financial requirements, but families should not assume that it will provide around-the-clock assistance.
The article also discusses other potential resources families may explore, including veterans’ benefits, long-term care insurance, reverse mortgages, and certain life insurance benefits. The coverage underscores the importance of understanding available programs and planning carefully when balancing a parent’s wish to remain at home with the realities of long-term care costs.
Angiuli & Gentile, LLP continues its work assisting clients with estate planning and related matters.
