How to Get Financial Help for Caregiving

Feeling overwhelmed by the costs of looking after an elderly loved one? You're definitely not alone. Many caregivers face financial stress. Fortunately, help is at hand. Special types of financial support are available for you to access. Let’s explore.

Caring for a loved one can be one of the most rewarding things you ever do. But it can also be financially tough, especially if you're doing it unpaid or earning very little.

According to AARP, caregivers spend an average of $7,200 a year out of their own pockets to care for a loved one.1 And nearly 4 in 10 have to leave their jobs to keep up with caregiving responsibilities. It’s a big financial and emotional commitment, and the strain can feel substantial.¹

That’s why financial support for caregivers is so important. It helps ease the burden so you can focus on what matters most.

If you’re new to caregiving, it may feel like you're stepping into unfamiliar territory. Whether you’re managing daily responsibilities or providing care from a distance, know that there are several types of financial support available to help. Some programs offer direct payments or reimbursements, others provide tax credits, monthly stipends, or cost-saving services that reduce your overall expenses.

Who qualifies? That depends. Many of these programs are state-specific, so what’s available to you might vary based on where you live. For example, some caregivers spend thousands each year on transportation, lost income, or in-home care costs. Seeking out financial aid can make a real difference in your day-to-day life and peace of mind.

There are several government programs that offer real help to caregivers. Here are a few worth exploring:

• Medicaid programs: Especially Home and Community-Based Services (HCBS) waivers which may allow caregivers to get paid for the care they provide.²
• National Family Caregiver Support Program (NFCSP): This federal program offers a mix of support, including counseling, training, and sometimes even financial help.
• Social Security benefits: If the person you care for qualifies for Supplemental Security Income (SSI), that can help with costs.
• Veterans Affairs (VA) benefits: Programs like the VA’s Aid & Attendance benefit provide extra financial help to veterans and their caregivers.1 Just keep in mind: benefits and eligibility vary a lot from state to state. It’s worth doing some digging to see what’s available where you live.

Grants are another way caregivers can get financial support.¹ These are often provided by organizations like AARP, local nonprofits, or religious groups. They may help cover specific expenses or simply give you a bit of breathing room.

There are also “paid family caregiving” programs in some states, often through Medicaid, where caregivers can receive a paycheck for the care they’re already giving. Some employers even offer caregiver assistance, and flexible spending accounts can also be a way to manage out-of-pocket costs. Plus, in certain cases, you may be eligible for regular caregiver stipends.

Looking after an aging loved one often means juggling a lot—including the cost of elder care services. Luckily, there are programs and options that can help cover big-ticket items like in-home nursing, medical equipment, and even respite care (a well-deserved break for caregivers).¹

Sometimes financial support isn’t paid directly to the caregiver, but it can still help ease your load by covering essential services. For example, long-term care insurance can go toward daily care costs, while Medicare might cover short-term medical needs. Just bear in mind that it doesn’t pay for everything.¹ Another option to explore is PACE programs (Programs of All-Inclusive Care for the Elderly), which combine medical and social services to help seniors stay at home longer.²

Finding financial help can feel like a maze, but you don’t have to figure it all out alone. A great place to start is by reaching out to your local Area Agency on Aging (AAA) or visiting eldercare.acl.gov.¹ They can help you understand your options and what’s available in your area.

It also helps to get organized. Gather any paperwork you might need like medical records, proof of income, and caregiving expenses. Keep good records, and don’t hesitate to speak to a social worker or benefits counselor. They’re there to help you navigate the system. Tracking your expenses can also come in handy when applying for tax credits or reimbursements.

And don’t forget that there are free tools out there to help, from online resources to caregiver support hotlines. You’re not alone in this!

There are plenty of organizations dedicated to helping caregivers just like you. For example:

• Family Caregiver Alliance
• Caregiver Action Network
• Local charities and organizations

Community-based support (from local nonprofits to faith-based groups) can also make a huge difference. Whether it’s help with meals, transportation, or emotional support, there are more options than you might think.

Also, check if your workplace offers an Employee Assistance Program (EAP). Some of these programs include caregiver resources, counseling, or even legal and financial advice.

And when it comes to caregiving essentials, TENA has you covered. Explore our range of caregiver essentials to find high-quality products that help make daily care a little easier.

What financial assistance is available for caregivers of elderly parents?

There are a few options out there to help ease the financial load. Medicaid offers programs like HCBS waivers that can pay family caregivers in certain states. There are also state-specific programs, VA benefits for veterans and their caregivers, and even grants from nonprofits or local organizations.¹ Just keep in mind that what’s available can vary a lot depending on where you live.

Is there a home care financial assistance program in my state?

Most likely, yes. But the details will depend on your state’s policies. A great first step is to reach out to your local Area Agency on Aging (AAA).¹ They can walk you through options in your area, including Medicaid waiver programs that might help cover home care. You can also check out eldercare.acl.gov for more information.¹

Can caregivers receive free government grants?

While it’s rare to find direct “free money” grants just for caregivers, there are government-funded programs that offer things like reimbursement, cost-sharing, or support services, especially if you’re a low-income caregiver.¹ Some nonprofits and community organizations also offer financial help or one-time grants.

How do I qualify for financial support as a caregiver?

Qualifying usually depends on a few key things like whether you're providing unpaid care, if you live with the person you’re caring for, or if you meet income guidelines. Programs like Medicaid, Veterans Affairs benefits, and state-specific services each have their own criteria, so it’s worth looking into what’s offered in your area.