As your parents grow older, it may become more difficult for them to complete simple tasks. Many aging seniors need help with their daily living activities, and oftentimes rely on a family member or will even pay family members to care for them.

It’s tough to see your parents age.

A once-active senior may need to cut back on the tennis matches or long walks they used to love. They may no longer feel comfortable driving. Then, a few years down the line, they may need help bathing, cooking, managing their medications, and other care services.

Often, the adult children of aging seniors take on the responsibility of caring for their parents. This, however, can create certain challenges.

What Are the Impacts of Caring for Aging Parents?

Caring for a family member is rewarding. It’s also time-consuming and emotionally-draining in many cases—and it can impact the caregiver’s ability to work and earn a living.

According to the AARP, 61% of family caregivers worked either full- or part-time in 2019. 54% of this population earned an hourly wage, which meant their earnings plummeted when their elder care obligations forced them to miss work.

These caregivers were busy. They still are. The cost of caring for your aging parents can add up fast, with high expenses, increases to the cost of living, and lost wages.

Take Angie, a Pennsylvania woman in her early 60s. Angie cared for her dad for two years—paying a part-time caregiver out of pocket when she needed help. Then, after her father died, Angie became a caregiver to her mother. This time, she paid her mom’s living expenses and a portion of her full-time caregiver’s salary.

She and her husband have since moved across the country. Today they care for her in-laws.

Roger, a New Hampshire man in his 70s, had a similar experience. Before he started caring for his father almost 20 years ago, he worked a corporate job. But Roger struggled.

His dad needed him, and Roger became his main caregiver. Yet his work performance suffered. Roger could never stay late at the office or prove to his boss that he could handle a promotion. “I could not over-deliver because I had to be home,” he said. “I could not stay after hours for important meetings.”

For Roger, caregiving had become a job in itself.

Can Roger and Angie get paid to care for their parents?

How Can Adult Children Get Paid to Care for Their Senior Parents?

Medicaid's Cash and Counseling Programs let caregivers get paid to care for their elderly parents.

These options are generally available through your state’s Medicaid program or through Medicaid’s Home and Community-Based Services (HCBS) waivers. Beneficiaries receive compensation for:

• Help with Basic Activities of Daily Living

These activities, such as eating, dressing, bathing, using the bathroom, and keeping up with personal hygiene, are considered basic skills.

• Help with Instrumental Activities of Daily Living

These activities are slightly more complex and include grocery shopping, managing medication, cleaning, meal prep, laundry, and transportation.

The eligibility and average compensation through Cash and Counseling Programs may vary based on the state and other factors. Since the program beneficiary takes on the role of employer in these cases, the senior must pay their caregiver and the relevant taxes. In some states, however, Cash and Counseling Programs include financial management services for an added fee.

Additionally, there are veteran benefits available from Department of Veterans Affairs. The VA Aid & Attendance pension program, or VA assisted living benefit, is another option to cover the cost of eldercare assistance. However, receiving this pension may impact Medicaid eligibility and VA Disability funds.

Other Options

Adult children can also get paid to care for their aging parents through tax credits, long-term care and life insurance policies, and special plans for veterans. To qualify, you must pass a background check, and your parent must meet certain financial criteria. Some programs may require a caregiver to be licensed and certified too, while others are more flexible.

In addition to financial assistance, there are other resources available to family caregivers. Many communities have support groups that can serve as an outlet and provide practical advice. These resources can be invaluable for caregivers who are feeling overwhelmed, isolated, and underpaid.

At Aidaly, we recommend consulting professionals who specialize in Medicaid, eldercare, finance, or law. They can help you find the most suitable benefits and programs for your caregiving needs.

Let Aidaly Help You Get Paid

If you are unable to access the above programs, or if your elderly loved one does not qualify for them, you still have options. Many private organizations offer some form of an assistance program, grants and other forms of financial assistance to family caregivers. And companies like Aidaly are here to help caregivers like you get paid an hourly rate for the valuable work you provide in the home.

Aidaly upskills family caregivers with essential training and support to help them get compensated for the care they provide for their loved one at home.

Our mission is to provide family caregivers with the necessary training and compensation to support aging in place, in turn, keeping seniors comfortable in their homes for longer.

Additionally, check out Aidaly's State-by-State Guide to see which specific resources are available where you live.

Connect with us today, and check your eligibility for family caregiver compensation.

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