Different ways to get paid for taking care of family
When an elderly member needs support in the family, you may be ready to help them. In some cases, you will have to leave your job to provide more care and attention to the elderly. You may not have any income and would require financial assistance. In such cases, the different ways to get paid for taking care of family would definitely cross your mind!
There are several ways to get paid for taking care of family. One such method would be The NY State Medicaid CDPAP program. Consumer Directed Personal Assistance Program or CDPAP is a Medicaid program which allows the beneficiaries to hire their family members or friends to offer caregiving services.
Speaking of ways to get paid for taking care of family, another method would be getting paid as a caregiver with a Family Care Agreement. Being family, taking care of the elderly parents should be an unpaid duty. If your parents need constant attention, creating a written agreement that includes everyone involved would be more beneficial. A family care agreement is a binding contract. Having such an agreement can compensate you for your efforts.
Among these, other ways to get paid for taking care of family would be by opting for Medicaid funded programs for family caregivers. If you are a caregiver, a Medicaid program can help you get compensation. There may be Medicaid State Plans / Cash and Counseling Programs or other Medicaid programs like Community First Choice (CFC), HCBS Waivers, Self-Directed Personal Assistance Services (PAS) State Plan Option and many others.
One of the best ways to get paid for taking care of family would be Medicare support for caregivers. Along with the elderly who needs care, younger people with disabilities may also qualify for this program. While Medicaid and Medicare are government programs, they are under different agencies. Also, eligibility requirements vary. You can only apply for Medicaid if the income and assets are below a certain level. Medicare can be accessed regardless of income, as long as the criteria mentioned are met.
Other ways to get paid for taking care of family will be by opting for Veterans benefits for family care if the beneficiary is a veteran. Veteran-Directed Home and Community-Based Services Program (VD-HCBS) helps the veterans receive nursing home level care in the comfort of their own homes or caregivers’ homes.
There are a few more ways to get paid for taking care of family. Having Long-term care insurance to cover expenses (LTCI) would be different from Medicaid and Medicare. Private insurance companies offer them. As a result, the benefits may vary.
IRS tax credits for family caregivers, is also one of the many ways to get paid for taking care of family. There are specific tax credits for caregivers who spend more amount to care for a family member.
New York’s Paid Family Leave Benefits Law (PFLBL) allows people employed in New York state to take 12 weeks of paid leave each year to care for elderly relatives suffering from a severe health condition.
One of the best ways to get paid for taking care of a family is to Work from home as you care for your family. You can also opt to be a freelancer if remote work is not available where you currently work. However, being a remote worker will not pay you to care for your family. But earning by working from home would help you pay for bills, medicines and other necessities.
Settlement of family member’s life insurance policy would be another option to look for as one of the ways to get paid for taking care of family. Life insurance policies can be encashed, known as life settlements. It would be an option for individuals that are over 65 years old.
To sum up, whether you are getting paid or not, everyone must take care of their elderly parents, especially when they need help, support, care and attention.