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The average fee for adult daycare is almost too broad to talk about. There are too many factors to consider – in patient or outpatient? Insurance or no insurance? Meals or no meal? Transportation or not? Private insurance and Medicaid are still the best resources for financial assistance, and even though the rules, exclusions and applications may be daunting, ask a social worker to help. Medicaid will pay most or all of the costs in licensed adult day health care settings and Alzheimer's focused centers, for participants with very low income and few assets. Be sure to ask about financial assistance and possible scholarships. Private medical insurance policies sometimes cover a portion of adult day care costs when licensed medical professionals are involved in the care. Long-term care insurance may also pay for adult day services, depending on the policy. Additionally, dependent-care tax credits may be available to you as caregiver. Early planning through a Financial Advisor, tax consultant or other reliable expert and discussing with a social worker will help considerably, no matter what stage you’re in. Understanding Benefits The rules and benefits are complex. Here are a few places to start: For a comprehensive guide to government benefits click here. United States Internal Revenue Service
Get to know the IRS Website and use their search engine – adult day care, benefits for seniors care – Publication 554 (2008) is the Tax Guide for Seniors. United States Social Security Administration
For an interesting and informative history of Social Security that may help de-mystify benefits, click here. Looking ahead – visit the Social Security Benefit Calculator. If you need access to benefit information for another person, contact a Social Security Representative Monday through Friday: 7:00 AM - 7:00 PM at: 1-800-772-1213 If you are deaf or hard-of-hearing, call our toll-free TTY number: 1-800-325-0778 The Social Security Administration offers a wide array of webinars to help various groups understand various issues (click on the webinar option). California Department of Health & Human Services
Offers entry into the world of California services and funding ideas. Understanding Tax Implications It’s always a good idea to understand the implications of your financial decisions. As you plan or as you manage the affairs of another person, making the most of those resources is essential to avoiding costly tax mishaps. Click here for the California CPA society and their consumer guide to finding a qualified professional. Caring for another person outside of California, please visit the American Institute of Certified Public Accountants for a state listing of professional societies. Click here for information about public accountants in California. California Society of Enrolled Agents also offers a search service to find a qualified EA. Planning Ahead Certified Financial Planners -- Find a planner at the Financial Planning Assocation or an advisor to help you maximize your resources. Planning ahead is key, but if you are starting late or taking over management of another person’s resources, it is a good idea to develop a plan. Each county offers a myriad of services and subsidies to help off-set costs for low income seniors. Visit the county agencies and become acquainted with your possible options:
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