If you've begun researching senior care options for your loved one, you're probably considering assisted living and home care. Many seniors express a desire to stay at home if possible and there are a number of home care options available. However, it's important to understand that while mom or dad may want to stay in her home, this may not be the most affordable option or, most importantly, the best for her long-term health and safety.
Many people don't realize that senior home care costs can exceed assisted living costs. We recommend compare assisted living costs in the area where dad would reside and compare them with the costs of utilizing some type of home care service.
Before getting to cost comparisons, let's define these types of elder care. Assisted living refers to a care community for seniors who need help with some daily living tasks but don't need round-the-clock assistance. Assisted living communities offer private living quarters, regular access to personal assistance, nutrition and wellness activities, a vibrant social calendar, security and a safe living environment that maximizes mobility and accessibility.
There are three main types of home care. Homemaker services offer limited help with tasks such as cooking, cleaning and doing errands. Home aide services employ aides who can provide more intensive care than family or friends are able to provide. The third type of home care is known as adult day care. This is a community-center type of service wherein mom or dad attends a center during daytime hours. These centers offer some personal care, medication management and limited social activities.
Comparing Costs
A 2014 Cost of Care Survey reviewed senior care costs for home and community-based settings. This survey found the following results:
Assisted living costs: The median annual rate was $42,000 for a one-bedroom apartment. This amount was based on a median monthly rate of $3,500, though monthly rates ranged from as low as $750 to as high as $10,412/month. When you start looking at assisted living communities in your area, be sure to ask what the monthly fee is, what services that fee covers, and then calculate the annual cost. You'll likely find that assisted living costs are all-inclusive, covering housing, utilities, food, social activities, etc.
Home Care Costs
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Homemaker services: The median annual rate was $43,472. This was based on a median hourly service rate of $19/hour, multiplied by 44 hours/week for 52 weeks. As you can see, even this minimal level of care can exceed annual assisted living costs.
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Home aide services: The median annual rate calculated in this survey was $45,188. This figure was based on a median hourly service rate of $20/hour, multiplied by 44 hours/week of service, for 52 weeks. Again, assisted living costs are more affordable than this type of home care.
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Adult day care services: The median annual rate was $16,900. This was based on a median daily care rate of $65.00, multiplied by 5 days of care per week, for 52 weeks. This type of care is less costly than assisted living, but it doesn't offer the all-encompassing level of care and security that assisted living communities provide. In addition, adult day care is, as the name implies, only available during daytime hours. If your loved one needs assistance during the night, you'll need to find care for that as well.
When comparing assisted living costs to home care, do your homework and make sure you understand the available options. What questions can we answer?
