Hi,
I'm part of the care team for my stepfather in Maryland, who has Lewy Body dementia. My responsibilities have expanded, and I'll soon be his medical and financial POA.
Although I'm not an at-home caregiver, I play a crucial role in his care management. This includes a weekly 60-mile round trip drive to his condo, additional mileage for doctors' appointments and errands, coordinating healthcare services, communicating with his doctors, overseeing his medication and financial matters, consulting with his CPA, purchasing supplies and clothing, and handling his email. This requires a few hours each day from home plus four to eight hours on the days I see him.
He's been authorized to receive 9 hours per week by the VA for a caregiver through an agency, and we've applied to the VA under the PACT Act for a caregiver stipend, aiming to increase care hours. His neurologist recommends 16 hours per day of care or adult daycare, with assisted living as a consideration. We will pay the difference using his savings.
Considering the extent of my involvement, we're exploring fair compensation rates for my contributions. We're considering $20/hour and $0.58 per mile (reflecting my travel for his care). An attorney and CPA are finalizing our agreement, so we've got the legal aspects covered. However, I'm seeking insights from this community on fair compensation rates for similar caregiving roles in Maryland. I need to give this information to the attorney so that he can include it in the documents.
Has anyone been in a similar situation? What compensation rates have you found to be fair for this type of caregiving and support role, especially considering the market in Maryland? Any advice or personal experiences shared would be greatly appreciated.
Thanks for your guidance and support.
"GCMs are also referred to as elder care managers, case managers and service or care coordinators. Geriatric Care Managers charge clients in a variety of ways, but typically their hourly rates are between $50-$200 / hr. Medicare, Medicaid and health insurance very rarely pay for these costs."
Source: https://www.payingforseniorcare.com/find_geriatric_care_managers#:~:text=GCMs%20are%20also%20referred%20to,and%20service%20or%20care%20coordinators.&text=Geriatric%20Care%20Managers%20charge%20clients,rarely%20pay%20for%20these%20costs.
I agree that you getting paid should be legally vetted and protected in writing. You aren't obligated to divulge anything to other family members but then there's the "optics" of getting paid and how much. You will still need to have relationships with other family so...just something to be aware of.
To otherwise "enrich yourself" (as it is called under the law) as the POA may run up against legal problems, so whatever decisions are made about AMOUNT of pay, it is important that you run all this through an attorney in the state your principal lives in. Any care contract should be written so as to protect parent and yourself. You need this in case in future any application for funds through state or federal is required (unless parent is very wealthy indeed and hence self insured.)
Your POA stipulates that you have a right to "expert advice". That includes CPA, tax folk, attorneys and etc. Keep close records of every penny in and out of the accounts, as I am certain you already know.
Wishing you good luck. I was POA and Trustee for my brother. At best (and his well organized few things were the best it gets) it remains a tough job, particularly when you are separated by some miles, as we were.