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However, a loved one may use out-of-pocket retirement savings for this purpose. If a family member has enough funds to privately pay from savings, it is important to formally complete a Personal Care Agreement. Prior to receiving any payment, this document should be prepared to outline the services provided as well as the payment to be received. A personal care agreement cannot be created retroactively to pay for past care.
The Caregiver Forum is a great place to come for answers. Additionally, I’d like to offer the following AgingCare articles as reference points:
To understand the purpose of and create a formal agreement between family members, please refer to:
https://www.agingcare.com/Articles/personal-care-agreements-compensate-family-caregivers-181562.htm
It is important to note that most outside sources of pay will only pay for medically based home health care provided by an authorized agency. For a general overview regarding paying for care, please refer to:
https://www.agingcare.com/Articles/paying-for-home-care-155405.htm
And finally, if you would like further information regarding the decision to hire a home care company that fits your needs and your budget, please refer to:
https://www.agingcare.com/Articles/how-to-select-a-home-care-company-230598.htm
If you are new to caregiving you will likely have future questions. There are many answers from experienced caregivers here. Don’t hesitate to come back and ask.
https://www.agingcare.com/topics/133/paying-for-care