My parents are still sharp and aware, they just need physical assistance and help around the house. Can this be covered under Medicare?

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Same situation here. I'm in the process of meeting with tradesmen/women to do the maintenance and yard work necessary for home upkeep.

There is a possibility though of getting assistance from volunteer organizations for specific projects, such as painting, etc.

In the home, though, I think you're looking at private duty, which in my experience is a hit or miss proposition.
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We are in the same situation. I’m Hubby’s caregiver and there is no option to place him in a facility. I am not physically able to do many home repairs or maintenance. I’ve checked out help with home maintenance and there isn’t much out there at no cost—no aid, I mean. I found someone to cut our grass for $10 per cut, which is a great price. But as far as home repairs and things like cleaning, I either do it myself or wait until one of my kids are available.
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CareForOthers, sorry Medicare doesn't do in-house caregiving: medicare.gov/coverage/home-health-services.html

Now, you might want to check Medicaid, which is State run and goes to those who are at poverty level. Depending on your State, they could have a program where an Aide comes to the house a few hours a day.

Otherwise, your parents would need to self-pay to hire caregivers to come to help them. If they need around the clock care, I found out that it is less expensive for one's parents to move to Independent Living, and then later to Assisted Living, both are monthly rental charges that also include some care.
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