Dawn, the vast majority of grown children who are caregivers for their parent do not get paid.... unless the parent can pay you a salary from their own retirement fund.
You are right, your Mom's health insurance will not pay for caregiving. Medicare is for hospitalization and doctor care. Secondary insurance helps cover the cost that Medicare doesn't pay.
Depending on your Mom's monthly income, she may qualify for Medicaid [which is different than Medicare]. Each State handles their own Medicaid, thus they have their own programs. Your State may offer a caregiver income, but note it may be minimum wage with minimum hours, or more durable.
By quitting work, you will lose monies that would be going into your Medicare and Social Security. Depending on your job, you would also lose vacation pay and sick pay. Some companies have 401(k) contributions and profit sharing which you would lose if you leave your job. Etc. So there is a lot to think over regarding quitting work or not.
I know this is a difficult decision to make. If your Mom does qualify for Medicaid, they will not cover 24/7 care as the cost is too expensive for Medicaid.... Medicaid has found that moving a love one to a Medicaid accepted nursing home works best. It can take a village to care for a person who needs around the clock care. That way, you can continue working to help build up your retirement fund. And Mom may like being around other residents of her own generation.
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You are right, your Mom's health insurance will not pay for caregiving. Medicare is for hospitalization and doctor care. Secondary insurance helps cover the cost that Medicare doesn't pay.
Depending on your Mom's monthly income, she may qualify for Medicaid [which is different than Medicare]. Each State handles their own Medicaid, thus they have their own programs. Your State may offer a caregiver income, but note it may be minimum wage with minimum hours, or more durable.
By quitting work, you will lose monies that would be going into your Medicare and Social Security. Depending on your job, you would also lose vacation pay and sick pay. Some companies have 401(k) contributions and profit sharing which you would lose if you leave your job. Etc. So there is a lot to think over regarding quitting work or not.
I know this is a difficult decision to make. If your Mom does qualify for Medicaid, they will not cover 24/7 care as the cost is too expensive for Medicaid.... Medicaid has found that moving a love one to a Medicaid accepted nursing home works best. It can take a village to care for a person who needs around the clock care. That way, you can continue working to help build up your retirement fund. And Mom may like being around other residents of her own generation.