Consumer Directed Services is a program where qualifying individuals are able to choose their own caregivers and pay that caregiver an income. If your dad has a disabling chronic health condition like cancer or kidney disease, he may qualify.
Before you quit your job to become his paid caregiver, make sure you look at the pros and cons. From there, you can decide if you’re the right fit. Even if you’re not, your dad has the opportunity to choose and train the caregiver he wants to help him every day.
How Old Are You?
Your age may play a factor in whether or not you should stop working to care for your dad. If you’re at or past full retirement age, make sure the income you get as his caregiver doesn’t impact your retirement income.
The Social Security Administration reduces retirement benefits by one-third when a person earns more than the annual limit. If you’re under full retirement age and receiving partial Social Security benefits, you lose half.
You might be years from retiring. If you have to quit your job to care for your dad, consider the loss of 401k contributions, pensions, and other benefits you get at your current job. Make sure you’re okay losing those benefits.
Consider Health and Dental Care
When you work for someone else, your health and dental care coverage are often subsidized by your employer. If you quit a job to become your dad’s care provider, you could lose insurance coverage. You’ll need a private plan, which can be more expensive than group insurance.
If you’re on a spouse or partner’s plan, this won’t affect you. If you’re not, research what health insurance will cost. You never know when a medical situation will arise, and some of your health care needs could cost more than you can afford without insurance.
You and Your Dad Need to Keep Careful Records
When you’re paid to care for your father, you have to keep track of the hours you work. It’s also up to you to pay any applicable state and federal taxes on your wages. Make sure you pay these each quarter to avoid penalties.
When you get paid to care for your dad, he’ll be in great hands. You have peace of mind that he’s with someone he trusts. You just need to make sure you’re balancing the care he needs with taking care of yourself.
Do you still feel you’re the best caregiver and that nothing stands in your way? Consumer Directed Services are a great way to have the financial freedom to care for your dad. Instead of worrying about keeping up with bills, you have a source of income while you’re his primary caregiver.
If you decide that you cannot leave your job, Consumer Directed Services still enable him to choose a caregiver and make sure he’s able to provide an income to his carer. Call to learn more.
If you or an aging loved-one is considering CDS (Consumer Directed Services) in Maryland Heights, MO please contact the caring staff at Home Care MO today. (314) 501-5330
We offer consumer directed services (CDS) in St. Louis County, St. Louis City and St. Charles, as well as Crawford, Franklin, Jefferson, Lincoln, Montgomery, Pike, St. Francois, Ste Genevieve, Warren and Washington Counties.
Sources:
https://www.ssa.gov/benefits/retirement/planner/whileworking.html
Home Care MO was established by veteran home care agency owners. Home Care MO is a home care agency that works with Missouri’s Consumer Directed Services (CDS) program. CDS is a Medicaid-funded program that enables you to hire the person of your choice to help with your care. This caregiver is also called a personal care attendant (PCA).
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