When you have a loved one who needs full-time care but still has a strong desire to remain as independent as possible, in-home care may be the safest option. The cost of an in-home caregiver can vary based on where you live, the type of care your loved one needs and whether you work with an agency or an independent caregiver. Finding ways cover the cost can be difficult, but there are many options. Here are some of the things you can consider to help you pay for in-home care services.

Private Insurance Benefits

If your loved one invested in a long-term care insurance policy through a private insurance agency, that policy should provide coverage for in-home care. Look at the policy terms or call the agent holding the policy to see if the policy will pay for an in-home provider.

Some life insurance policies build cash value. If your family member has a whole life insurance policy that's built cash, he or she can liquidate that and use it to help pay the cost of care as well. The insurance agent holding the policy can tell you what the options are for converting the policy to cash.

Public Support Programs

Depending on your loved one's financial position and assets, he or she may qualify for public support programs to help cover the cost of the in-home care services. Medicaid, veteran's benefit plans and even cash supplement programs can all offer some coverage to help you meet the costs of the care provider.

Family Assets

Sometimes, insurance and public programs aren't an option or only cover a portion of the cost. In those situations, you'll have to assess your family's assets to determine how best to absorb that cost. There are many ways to cover the costs of in-home care from personal funds. Retirement money, investments, bonds and other assets can all be turned into funds to pay for care.

Get Creative

Sometimes, even your best efforts aren't enough to cover the costs for full-time care. In those cases, you'll have to let your creativity close the gaps. Consider looking for volunteers from local churches or even the nearby nursing school to help you out with care a couple of nights each week. Look for day programs and senior care centers where your loved one can go for functions and daily recreation, reducing the time you'll need to have the care provider on shift.

Dealing with an aging loved one can be an emotional process. When he or she is holding on to the last bit of independence despite the need for care, the tips presented here can help. With the advice here, you can manage the cost of in home care services more effectively and be confident that your family member is getting the support needed.