Financial compensation for family members who provide informal care to elderly kin has frequently been discussed but rarely implemented in Canada. One exception is the Nova Scotia Home Life Support Program, which financially compensates family members for the care of the elderly. This study explores differences among caregivers who receive formal services, specifically, financial compensation or home help services. Financially compensated caregivers tend to be younger females who live in non-urban areas and co-reside with the care receiver. In comparison to caregivers who receive home help services, these paid caregivers report a reduction in financial worry but have greater involvement in the care of the elderly and higher levels of time dependence burden. Before implementing financial compensation policies, research which specifically investigates the effect of these programs on caregivers is needed.