Uploaded on Sep 23, 2021
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SENIOR CARE ONLINE –
HOW TO MANAGE THE RISING
COST OF SENIOR HOME CARE
IN THE US?
Website – www.seniorcareonline.com
HOW TO MANAGE THE RISING
COST OF SENIOR HOME CARE IN
THE US?
Caring for aging loved ones comes with financial challenges, but
that is something you can handle without losing your mind with
careful planning. One of the most important choices that you have
to make is whether you should hire an at-home senior caregiver
service or look for a skilled nursing facility.
Both choices come with their ramifications in terms of cost and
budgeting. Before you choose any option, experts recommend
researching the option fully and also factor in any medical
emergency that the elderly in your family is most likely to suffer
from.
Many family caregivers react to a severe medical crisis. Even when
they realize that the senior member in their family has additional
needs that are difficult to address without a professional, they
become apprehensive to hire a Senior Caregiver in the USA
because of the rising cost of senior home care in the country.
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THE BASIC COST OF AT-HOME
CAREGIVING FOR THE ELDERLY
The cost of at-home care greatly varies with the needs of the senior.
According to the most recent data of Genworth, the average cost of
in-home care can be up to $4,576. On the other hand, the cost of a
nursing facility can go up to $8,821.
For those who are looking for a senior caregiver who is available
24/7 to take care of the elderly, the cost is still significantly higher.
However, the cost can substantially go down if the elderly need a
professional caregiver for only a few hours or if a family member
can step in. Besides, the basic caregiving cost can also vary based
on your location and state.
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COSTS OF SENIOR CAREGIVING
THAT OFTEN GO UNNOTICED
Home health aides often charge more during overnight, weekend, and
holiday hours. They may also increase their prices even if you hire them
just for one hour as opposed to a three-hour duration due to potential
wage losses on other caregiving jobs. Besides the cost of
Caregiving for Elderly, the family will also have to pay for standard
living costs, such as groceries, electric bills, medical supplies not
covered by the insurer, and home modifications if necessary.
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OPTIONS AVAILABLE TO PAY
FOR SENIOR CAREGIVING AT
HOME
1. Medicaid/Medicare
2. Private Health Care Insurance
3. Long-term Care Insurance
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CONTACT US
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