An important facet of making a good senior living care choice is understanding what each different senior care option costs because misconceptions can exist about the expense of senior care. Let's review the main types of senior care options and their associated costs. These numbers come from the 2014 Genworth "Cost of Care" Research, which analyzed data from over 25,000 providers. It's important to note that care costs vary depending upon geographic location.
Home Care
Homemaker services: This type of service allows seniors to remain in their own homes via assistance with basic household tasks such as cooking, cleaning or doing errands. No hygiene care assistance is offered. The national median annual rate for such care was calculated to total over $43,000. (1)
Home health aide: These individuals provide care to seniors who are in their own homes, and offer more intensive care than basic housekeeping, including hands-on personal care. The national median annual rate for this type of care may total over $45,000.(1)
Community Care
Adult day care (ADC): Seniors are provided with social and other support services in a community-type setting during daytime hours. This is not 24-hour care. Such centers can offer breaks to caregivers. Some ADC communities also offer medication management, therapeutic activities and transportation. The national median rat is $65/day. For someone using ADC five days/week, the annual median cost would total nearly $17,000.(1)
Assisted living (AL): An assisted living community provides a homelike living setting which can be personalized with the seniors' own furniture and accessories. These communities provide personal care for residents who may need help with Activities of Daily Living (ADLs). Assisted living costs cover all basic living expenses, such as rent, utilities and food, but also include housekeeping, health monitoring, medication management services, 24-hour security, community repairs and maintenance, property taxes and insurance, and basic items such as lawn care and trash service. In addition, assisted living costs include something that many people neglect to factor into their cost calculations when comparing living at home to assisted living - entertainment. Top-quality assisted living communities offer a wide range of free activities geared toward senior residents' interests and abilities. Many have gyms and community movie theaters; any good assisted living community will offer daily socialization activities to keep seniors engaged and their brains stimulated. Median assisted living costs are $3500/month, or $42,000/year. (1)
Nursing home care: This type of care is chosen for individuals who need more intensive supervision and care than available at assisted living communities. Residents receive personal care assistance, room and board, supervision, medication, rehabilitation services and therapies, and 24-hour skilled nursing care. For a semi-private room, the national median cost is $212/day, or over $77,000/year. (1) For a private room, the national median cost is $240/day, or over $87,000/year. (1)
Assisted Living Costs Vary by State
The Genworth Study also broke down assisted living costs by state and found a wide range. So while the national median costs can give you a general idea of how much assisted living costs around the country, it's important to focus on the area where your loved one will likely reside. For example, the state of Georgia has one of the lowest median costs for assisted living.
What questions can we answer about assisted living costs?
Footnote (1):
Median annual rate calculated thus:
Homemaker: Hourly rate x 44 hrs/wk x 52 wks
Home health - Hourly rate x 44 hrs/wk x 52 wks
ADC - daily rate x 5 days/wk x 52 wks
AL - monthly rate x 12
Nursing - daily rate x 365
