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405jbb Asked August 2015
Is there any financial help for a caregiver unable to work due to caring for a parent?
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My Mom has dementia. She is living in her home. I am there every day.Cannot afford any daily help.I am unable to work full time any longer. My husband and I struggle financially. We cannot afford medical insurance without my income. Isn't there some funding or compensation for caregivers of parents?
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igloo572 Aug 2015
Your mom gets income - SS & perhaps some other retirement - & mom can do a personal services contract between you & her in which she pays you to be her caregiver. All this on the total up & up with taxes & reporting. You get paid & build your own SS credits & mom gets a caregiver who knows her needs. It must be done by valid legal contract so that if mom later on gets to the point that her care needs are beyond your ability & mom applies for medicaid there is no issue with or transfer penalty assessed on those payments.
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405jbb Aug 2015
Thank you .I will check into that.
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