Becoming a caregiver for an aging parent is a serious commitment that takes time, patience and money. Often children who elect to be caregivers will stop working in order to be at home full time with elderly parents who have illnesses, dementia or physical limitations. Two government sources of funding exist for qualifying families in this situation.
Medicaid Cash and Counseling Program
Contact the Medicaid office in your state to find out if the cash and counseling program is available where you live. The program is available in some states for caregivers of elderly family members who are receiving Medicaid benefits. Medicaid will pay benefits to a family member who is deemed the personal in-home caregiver.
Visit the Medicaid Online website and click on your state for benefit application information.
Qualify your elderly parent as someone needing care and/or supervision with the help of a doctor. Ask for a written statement from the attending physician who declared your aging parent to be in need of care for a debilitating disease, dementia or a physical limitation. Submit the statement to Medicaid along with a list of your parent's expenses for an assessment of how much funding you are entitled to through the program.
Veteran's Administration Special Pension
Apply for a Veteran's Administration special pension for elderly parents who were enlisted in the military during wartime. Three tiers of benefits are available for veterans of war and their surviving spouses depending on their needs. These benefits include funding for long-term care expenses.
Collect the papers necessary for pension application. You will need papers to verify your elderly parent's net worth, income, medical expenses and medical condition along with honorable discharge or separation papers for the veteran.
Begin the application process with free assistance from the Veteran Aid or Vet Assist websites. It may take almost a year to qualify, but you will be able to collect retroactive benefits from the time of the initial application.