You’re now convinced that you or a loved one would benefit from any number of devices or equipment. Now let’s talk about funding them.
Many seniors are on a fixed income. Caregivers often find that their finances are stretched, especially as they may have reduced hours to care for an aging parent or relative. Paying for assistive aids might seem like an unrealistic goal, especially on a tight budget.
Thankfully, there are several funding options to explore. Medicare and virtually all health insurers refer to these types of equipment as Durable Medical Equipment (DME).
Medicare and Medical Equipment
Durable medical equipment and supplies are sometimes covered by Medicare.
This applies to pieces that can be used in the home, are generally not useful for people without an illness, have a medical purpose and can be used repeatedly.
As you can see by the description, this support covers some types of adaptive aids, but many others are excluded. In practice, most adaptive aids are not essential for a person’s health. Their role is primarily to make daily living safer and easier.
Thankfully, the recently signed CHRONIC Care Act helps to relieve this burden. The bill broadens the types of products that are eligible for financial support. Examples include:
- Allowing Medicare Advantage plans to support
some non-medical tools, including assistive items like grab bars installed in
bathrooms. - Providing additional support for telehealth
services, allowing more remote healthcare. - Increasing care coordination, which should
improve health and access to services.
While many tools still are not covered by Medicare, the CHRONIC Care Act is a step in the right direction and may have powerful impacts for caregivers and seniors.
Other Insurance
Adaptive tools may be supported by other types of insurance too. This is most commonly the case for devices that are considered a ‘medical necessity’. A primary physician may be able to help in this area, if they are able to provide documentation about the importance of a particular tool or device
A good first step is to work out what different plans cover. Medicare, Medicaid, VA and private health plans all have different areas of coverage. Examining these is an important first step for finding financial support.
The site Able Data also offers a detailed PDF that focuses on various avenues for financial support and places where you can look.
Seek Recommendations
If someone recommended an assistive product to you, they may also be able to provide information about funding.
For example, a healthcare provider or teacher will often know details about potential funding opportunities and any discounts. They may also be able to offer documentation that can support you when seeking such funding.
Other Options
There are also other places where you can turn to for financial support. Some of these may only be able to provide you with a discount, but every little bit counts.
- The
seller. Product vendors are surprisingly good places to find funding
information. They will often provide information about savings and can direct
you to potential sources of funding. - The
manufacturer. The same thing is true for manufacturers. Some may even
provide support to help you fill out forms or direct you to the right area.
After all, their focus is on making the sales. - School
districts. If adaptive aids are for children and are relevant to education,
then the school district may pay some or all of the cost. While this won’t
apply to most caregivers, it is an area worth considering. - Local
resources. It’s always worth tapping into local resources, including senior
care centers. These may have additional information about the types of support
that is available. - Charitable
organizations. You can also look at charitable groups, especially those
that provide support in a specific area. For example, a charitable group that supports minority seniors or one that
supports seniors with diabetes may have some funding opportunities for adaptive
equipment.
Paying for Tools Yourself
The final option is to pay for the adaptive aids yourself. This may involve cutting down costs elsewhere and setting money aside. While that process can be frustrating, the benefits of adaptive aids are too significant to deny. The right tools can strongly promote independence, giving your family member more control over their own life.
You can also shop around for good prices. Online stores like Amazon are particularly effective. These make it easy to compare prices and reviews for different items.
Some tools may even save you money in the long-term. For example, they may reduce the risk of accidents and hospital visits, both of which can cost and have significant health implications.
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