All costs considered...

Let's be honest here, care of any kind can be expensive. It is so easy for a senior to merely see dollars signs when it comes to having one on one care in their home. But, when evaluating the cost of care, it is important to look at multiple variables.

When compared with the costs of the different alternatives, care in your home can be quite a bargain. When a senior chooses to have no care, in all likelihood a life altering event, like a fall, could cost them their independence, their health, and their financial security. There is a significant value associated with that!

There's no place like home

Making a move to an assisted living facility seems like the easiest option, but it involves other costs that are often underestimated. Those costs include the loss of home and the community surrounding it, the monumental effort (physically, emotionally and psychologically) of downsizing, the inevitable decision to leave behind those sentimental valuables collected over a lifetime, loss of privacy and, to some degree, a loss of independence. But often, doesn't have to be all or nothing. Home care is a new player in the care continuum and for good reason. For the financial cost of assisted living most seniors can continue to thrive in their own home with adequate one on one companionship and care.

Did you know... Studies show that 90% of seniors want to age at home. Unfortunately most of those same people think that once they need a little help at home, assisted living is the only option. Not anymore. While there will always be a place for assisted living in the care continuum, home care is starting to play a much more prominent role and, in some cases, the ONLY role. Using home care ACROSS the care continuum has given some families the flexibility to move from 4 hours of care per week initially all the way up to 24/7 care incrementally as symptoms advance and/or needs increase. And the nice part, the cost increases incrementally too. 

Bill and Sue's Tip

Overall, the most important thing to think about when evaluating the costs of home care is to make sure you are spending your money on what is important, THE CARE. When weighing your options, be sure to look at the amount of actual human to human care you will be receiving as part of your bill. Independent living and assisted living facilities charge for rent, facility use, grounds upkeep, etc. as well as a little bit of care. The cost of allowing Mom to age in the home she loves can not only be much less expensive that you think, but also add value to her life. And that is what we consider money well spent. When my own mom was struggling and needed care, just a few hours at first, then a little more and a little more until finally she was receiving 24/7 care, we saw how happy she was to be surrounded by CAREGivers who kept her body active, clean and nourished, kept her mind engaged and kept a smile on her face, all while in the comfort of home. It helped us feel better knowing that Mom was in the place she wanted to be.

The financial obligations surrounding any type of care can seem daunting.

Download our Funding Solutions Guide and uncover the various funding source options that may be available to you.

Have any specific questions about home care? Send me an email audra.bidwell@homeinstead.com, we'll answer your question and write a blog about it!