Cost of Homecare vs. Nursing Homes
Cost of Homecare vs. Nursing Homes
There are many factors to consider when choosing in-home care and a nursing home facility. The price will depend upon location, the level of care required, and the time commitment needed. Each state has a different cost of living so caregiver wages and nursing home facility costs will vary in price. A huge factor to consider is whether or not your loved one needs 24/7 care, this is when in-home care costs can become an expense some can’t afford.
The price of in-home care is going to depend on the type of caregiver that you are seeking and if you have a preference for their qualifications. Everyone’s prices will vary depending on if you go through an in-home care facility or through an independent contractor. The average price of home care in the United States is around $4,947 a month. While in-home healthcare comes in higher at $5,148 The average price for a nursing home can be 82k- 92k annually. Residential skilled nursing care comes in at around $7,908 for a shared room and around $9,034 for a single room
How Much Daily Help is Necessary?
When considering in-home care or a nursing home facility, it is important to consider how much help you or your loved one might need. Some assistance in daily life may require you to seek part-time or full-time help. Some questions you might consider when deciding what type of care you need are:
- Do I need help with daily living tasks?
- Do I need medication reminders?
- Do I need help with meal preparation?
- Do I need help with recovering from an injury or sickness?
- Do I just want a companion?
Once you consider all of the above questions it will be easier to decide what type of care would be best for you or your senior. You may also want to consider the type of surrounding you prefer, and the level of amenities you desire. If you are wondering if in-home companion care is the right choice, click the link below to see our checklist!
Elderly Home Care Cost
In-home care can range from a few hours a week to 24/7 care, depending on your situation. Typically most seniors receive less than 40 hours a week of care. If your loved one requires 24/7 care it can become very costly, though financial plans and assistance vary from person to person. In-home care can be an ideal solution for seniors looking to age in place within the comfort of their own homes. The great part about choosing in-home care is that caregivers can stay for as little or long as you need them to. There does not have to be any long-term contract or commitment with this option. Caregivers can provide companionship, assistance in daily living such as hygiene, meal preparation medication reminders, general housekeeping, transportation to doctor's appointments, and much more!
Many people choose in-home care over nursing care because it provides a sense of freedom, comfort, and familiar surroundings. Many seniors report having a much greater quality of life with in-home care, with fewer doctor visits annually. When considering in-home care, it can be stressful trying to figure out how you should go about finding the right caregiver. That’s where Senior Home Companions comes in! We will do the legwork including finding the perfect caregiver to meet your needs, running background checks, handling the financial aspects of paying the caregiver, and continually checking in with the caregiver and family to make sure things are going smoothly.
Nursing Home Care
Nursing home care may be a good option for those needing more basic care that can be provided in a traditional home setting. Nursing homes are designed to provide around-the-clock medical care and there to assist patients in a more residential setting. Certified Nursing Assistants often work in these types of settings providing skilled medical prep, cleaning, laundry, meals, and personal needs. Many families choose nursing home care because it offers a wide range of health care services to clients while alleviating the stress of finding a caregiver. In this setting, many facilities offer semi-private, or private rooms- rooms vary in cost depending on if it’s a shared space. Nursing home facilities also offer in-house activities such as fitness programs, crafts, and entertainment. Assisted living facilities also cater to patients with Alzheimer's and have a special memory care unit that they house them in.
At Senior Home Companions we offer Boutique memory care cottages that cater to clients with Alzheimer’s and dementia. Each cottage houses 8-10 clients, it has a very residential feel so that your loved one can feel at home while also receiving personalized care. Our caregivers work with dementia clients and are trained to work within the memory loss field. At our boutique memory care cottage, your loved one will be able to receive the same benefits of a nursing home and in-home care all in one. To learn more about these unique memory care cottages, visit our Story Cottage website.
Let’s Compare the Cost of Home-Care vs Nursing Homes
There are many factors to consider when choosing in-home care and a nursing home facility. The price will depend upon location, the level of care required, and the time commitment needed. Each state has a different cost of living so caregiver wages and nursing home facility costs will vary in price. A huge factor to consider is whether or not your loved one needs 24/7 care, this is when in-home care costs can become an expense some can’t afford.
The price of in-home care is going to depend on the type of caregiver that you are seeking and if you have a preference for their qualifications. Everyone’s prices will vary depending on if you go through an in-home care facility or through an independent contractor. The average price of home care in the United States is around $4,947 a month. While in-home healthcare comes in higher at $5,148 The average price for a nursing home can be 82k- 92k annually. Residential skilled nursing care comes in at around $7,908 for a shared room and around $9,034 for a single room
How do I Pay for Senior Care?
Now that you know what type of senior care you or your loved one needs, it will give you a better idea of how to plan financially. It is better to consider expenses earlier on in the process of looking for senior care. Luckily, there are several different options when it comes to payment. Senior benefits will vary depending on multiple different factors, here are some ways you can pay for in-home care and nursing homes:
- Medicare
- Medicaid
- Veterans Benefits
- Disability Benefits
- Private Grants
Senior Home Companions works directly with the VA to make sure you are accessing your full veteran benefits. If you are wanting to know more about the pricing of home care in the Indianapolis area, give us a call at (317) 251-0441 or visit our website.
If you’d like to discuss all the types of in-home services Senior Home Companions provides, please contact us today for your free consultation. Our offices in Indianapolis, Lafayette, and Central Florida would be happy to discuss your family’s options. Senior Home Companions provides non-medical, elderly care companion services to older adults in both Indiana and Florida. As a privately-owned company, we are dedicated to serving with integrity, effectiveness, and compassion. It’s what we would want for our parents and grandparents and believe your loved ones deserve the same. Contact us today!