How to pay for in home care after funds run out?
My father is 88 years old and lives in his house with a 24-hour caregiver. He is bed bound with advanced dementia but is in remarkably good physical health. The care is being paid for out of his savings, which are managed by my sister, who has POA and is his guardian. His income from pensions is roughly 30K per year. His care, however, not including food, and other household expenses, totals over 60K. We've been able to maintain the care for the past 4 years, paying out of savings. But now we're about 4 months away from running out of funds. We're considering selling the house, which is fully paid for, and moving my father into an apartment so we can continue the one-on-one care, using the funds from the house sale to pay for the care. But we have some concerns about the expense and liability of moving into a rental space. We've been told that my father's income is too high to qualify for medicaid. And we don't know if we should transfer to a facility, which could be even more expensive. My question is: where can we find a reliable resource to help us figure out our options for paying for his care? We'd like to stay in his home rather than move him. But don't know what options we might have through Medicaid to supplement his income. We live in Chicago.
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