Caregivers play a pivotal role in other’s lives, looking after their needs, and ensuring their wellbeing. Unfortunately, most full-time caregivers face burn-out too fast and too soon after they start caregiving, not because their skills or dedication is lacking, but because they don’t have the support they themselves need to continue on their path.
This can result from either insufficient knowledge about the benefits of caregiving, or lack of availability of these.
Whether you are working for recognized caregiving service or caregiving at home, have another job or are unemployed, you need to know about the support improve the quality of life for yourself and your care recipients.
Let’s delve into four benefits of working as a full-time caregiver you may be unaware of.
State Program Benefits
U.S. citizens or legal permanent residents in the U.S. with certain disabilities can become eligible for Medicaid support. The program’s criteria may also cover low-income adults and their children. However, know that having a poor financial situation alone does not make you a qualified Medicaid recipient.
Insurance Benefits
Since not everyone is eligible for Medicaid financial support, insurance benefit is another option. A long-term insurance can prove to be good financial support, though whether or not the policy extends to in-family caregivers depends on your policy. Learn more about coverage with your policyholder’s insurance agent.
Tax Benefits
Though they do not actually get direct payments for full-time caregivers, tax benefits can help cover some costs.
People under the age of 65 who care for their parents can minimize qualified medical expenses that exceed 10% of their adjusted gross income. However, this benefit only applies if a caregiver itemizes their deductions, which makes taking a standard deduction option, even with extensive medical costs, a better option for some.
Workplace Benefits
Some people overlook that fact that they can receive financial support through their workplace. According to a research by The Pew Research Center, one-in-four people with jobs have taken leave to care for a critically ill-family member. In addition to offering paid leaves for caregiving, most employers also offer benefits plan which include elder care assistance. It is one of the benefits larger organizations use to attract and retain the right talent.
It helps to have the right knowledge to have a more fulfilling experience as a caregiver. As caregiving counseling and consultation experts, The Global Caregiver offers full-time caregivers comprehensive counseling services regarding job security.
Reach out to us today to acquire the skills and knowledge you need. We also provide excellent caregiver seminars.