Childcare and elder care FAQs
The short answer is yes; however, it may not be simple to obtain compensation and the compensation may be minimal. If you care for your parents in your home or theirs, you may be eligible to receive payment from organizations that would be paying for their care if you were not providing the care yourself.
The following agencies may be able to provide you with some compensation:
Regardless of which agency you contact for support, you'll benefit from keeping meticulous records about the care you are providing. You'll also want to have a signed agreement stating that your parent wants their care from you and that you have a care agreement.
This Adult Child Caregiver Exemption allows an adult child who cares for their parent in their home the option of receiving their house in exchange for payment. There are two advantages to this agreement. The first is that the value of the house will not affect their Medicaid status. The second is that the adult child will be allowed to be compensated for their care. You may be able to use this exemption after you have been caring for the parent for at least two years.
Since navigating Medicaid and estate laws can be complicated, it is recommended that you work with an attorney who specializes in elder care and medicaid. As with most elder care situations, you'll benefit from keeping detailed records about the care you provide for your parent.
Finding the right person to care for your children is not easy. To help you find the right person, it's best to clearly define your needs, budget and expectations. Do not plan on finding the right person immediately. Finding the right person will take time and patience.