That means you are liable for injuries, for withholding Social Security taxes, and for filing the proper tax documents. Some people find, however, that less expensive independent caregivers are the only way they can afford home-based care. Paying for care. Once you find the home-based care you need, the next challenge is paying for it. Medicare, the government's health care program for those 65 and over, does not cover long-term care or help with personal or household services.
Private insurance pays very few home care costs.
Some newer supplemental medical insurance policies, known as medigap, offer limited coverage for home care, but only when a patient is also receiving Medicare. But these policies are still so new and relatively expensive that only a small percentage of the elderly have them. The bottom line is that if you need private home care services, you're probably going to have to pay for it yourself. That may mean liquidating assets or engaging in some creative financing, such as applying for a reverse mortgage where the lender pays the homeowner.