Caring for a Loved One in Arkansas? Discover 5 Ways to Get Paid for It
Caring for a loved one is a labor of love, but it can also take a serious toll on your finances. Fortunately, there are several ways to receive compensation for your caregiving efforts in Arkansas. Let's explore some of these opportunities to get paid while doing what you already do best—caring for family.
1. Medicaid Options in Arkansas
Medicaid, a federal and state initiative, provides health coverage for those with limited income, including families, seniors, and individuals with disabilities. Through Medicaid waivers in Arkansas, certain family caregivers can receive payments.
- ARChoices in Homecare Waiver: This waiver specifically offers home and community-based services. There's a self-directed option within the program, allowing family caregivers a chance to receive compensation. To qualify, caregivers often need to undergo training and become affiliated with an agency to handle payments. Keeping up with the latest on these waivers is crucial, so visit the official Arkansas Medicaid website or contact the Arkansas Department of Human Services for updated information.
2. Support Through Veterans Affairs
Veterans and their caregivers in Arkansas have several options for financial support:
- Veteran Directed Home & Community Based Care: This program enables veterans to allocate their care budget, potentially hiring family members as paid caregivers. Hourly compensation can range from $8 to $21.
- Veteran Aid & Attendance Pension Benefit: This can provide up to $3,261 monthly for long-term care needs, which could help pay family caregivers.
- Housebound Pension Benefit: Offers financial help to veterans who are mostly housebound, with a benefit of up to $1,882 per month; however, spouses cannot receive payment.
- Program of Comprehensive Assistance for Family Caregivers (PCAFC): A broader initiative offering a monthly stipend up to $2,750, along with caregiver training and counseling.
3. Local Support Services
Arkansas’s Area Agencies on Aging (AAAs) offer support through various services:
- They provide guidance on local resources and respite care.
- Organize caregiver education and training programs.
- Facilitate support groups to connect with others in similar situations.
- Offer assessments to personalize caregiver support.
To locate your nearest AAA, know there are 8 such agencies across Arkansas.
4. Utilizing Tax Credits
Tax credits are a helpful way to ease the financial load of caregiving. The Child and Dependent Tax Credit (CDCTC) can reduce your income tax dollar-for-dollar based on care-related expenses. In Arkansas, you can claim a state tax credit of $1,220. Furthermore, the state matches up to 20% of the federal credit, which can provide an additional $120 off your taxes. You must claim your dependent on tax forms to avail of these benefits.
5. Exploring Additional Avenues for Payment
Apart from the formal programs, consider these options for caregiver compensation:
- Personal Care Assistance Program: Offers payments for personal care services, covering tasks like dressing or meal preparation.
- Long-term Care Insurance: If your loved one has this insurance, it might cover family caregiver payments. Check with the insurance provider to be sure.
- Employer-Sponsored Leave: Some companies offer paid leave for caregiving duties. Consult your HR department for eligibility.
Your Rights as a Caregiver in Arkansas
Knowing your rights and available resources is imperative. The CARE Act is there to support family caregivers in medical scenarios. Additionally, the Lifespan Respite Care Program provides relief by arranging substitute care. Access resources tailored for caregivers through the Aging and Adult Services agency.
Caring for a loved one is a noble yet demanding task. By navigating these resources, you can find much-needed financial support, ensuring that both you and your loved one can lead more balanced lives.
