Retirement - Top 5 Things To Know

What do you think of when you hear the word retirement? Financial freedom, not working, relaxing, traveling the world?  Retirement age has long been defined as those age 65 and older.   As the baby boomer generation head into their senior years, they are leading a demographic shift in Read more

Elder Abuse - Recognizing the Warning Signs

We began our Elder Abuse Awareness Series with Elder Abuse - Stopping It Begins With Awareness and defined the different types of abuse.  This post will provide information on recognizing the warning signs. Recognizing Warning Signs of Elder Abuse According to the California Department of Justice, elder abuse victims often Read more

Anti-Aging or Healthy Aging?

One of the most successful marketing terms of all times has to be “anti-aging”. Put an anti-aging label on most any product, and it flies off the shelves.  Is it possible to look your best without spending beau coup money on anti-aging products or going under the knife?  Read more

Elder Abuse - Stopping It Begins with Awareness

What is Elder Abuse? In observance of World Elder Abuse Awareness Day 2012, we will begin our awareness series with defining the different types of elder abuse.   According to the National Center on Elder Abuse (NCEA), elder abuse is a term referring to any knowing, intentional, or negligent act Read more

Why In-Home Care Is the Most Cost Effective Option for Senior Care

admin Financial & Legal

As the costs of long term care steadily rises, Medicare and Social Security benefits dwindle, and wallets continue to be strained, affordable quality healthcare becomes an even greater issue of concern in the senior community.  In the past, the only senior care options were to either move in with a family member or be placed into a nursing home.  Today, there are several options to consider such as assisted living facilities, retirement communities, and in-home care.

When compared to the average annual costs associated with a nursing home or assisted living facilities, in-home care is  by far the most affordable option.

  • Nursing Home Resident –  $69, 715
  • Assisted Living Facility – $36, 372
  • In Home Care – $18,000

Based on a national average cost of $18.75 per hour for companionship services, 20 hours of companionship home care a week costs approximately $1500 a month or an average annual cost of $18,000.  Rates do vary state to state and is dependent upon variables such as the type of care needed and amount of service hours, but  for seniors who want to remain in their own homes,  a few hours of in-home care a week may be the most cost effective.

Even though there are many options to consider, in-home care is a more comprehensive and a more personalized solution at a  lower cost.  It offers the most security and happiness for seniors and the greatest peace of mind for their families.