Is any of your elderly family members needing some extra care or attention due to their age? Are you still weighing on options to ensure their safety and care despite your busy schedule? Does the idea of putting them away in a hospice make you feel guilty?
Most senior adults would prefer to live in the comfort of their homes. The familiarity and independence it provides gives them an environment they desire.
I am sure that as an individual, you would also want to stay close to your senior relatives instead of banishing them into a home.
Keeping seniors in environments they are used offers you an opportunity to continue bonding with them and helping them out. This applies especially for people with degenerative brain diseases.
Home care for aging adults is the best option to take, considering it is more affordable than other forms of care. They also allow seniors to retain their homes and makes it easier for you to monitor them.
Certainly, you must be worrying about the cost of home health care for seniors and how you can effectively budget.
To get quality home healthcare, you do not need to get a loan or use up all your savings. There are affordable options to get home health care.
Quality home health care doesn’t have to be a burden on your funds. Check out this article to find an affordable option for home health care.
Home Care Cost
Home care for seniors is usually charged on an hourly basis. The costs also depend on the time when the care is offered and the supplies necessary. Old age is often referred to as the golden years, and as such, your loved ones should be able to enjoy it to the fullest.
The cost of home healthcare varies from one state to another with an average of about $4,000 every month according to research carried out by Genworth Financial. The survey that was carried out in 2015 shows that the median price per hour home care stood at $20.
However, depending on a specific state, there are those that charge above the median whereas others charge way below.
Some of the states that offer the most expensive (above $25) home care services for seniors include North Dakota, Minnesota, Rhodes Island, California, Alaska, and Hawaii. On the other hand, the most affordable ones (below $18) include the states of Louisiana, Georgia, Arkansas, West Virginia, North Carolina, Alabama, Mississippi, and Tennessee.
You will, however, incur more or fewer costs depending on the condition of your senior adult who needs care. The type of supplies and favorable conditions will either increase or reduce overhead costs.
In-home care costs can either be settled, hourly, daily, weekly, and in overnight rates depending on your choice. Your choice will determine the overall costs of home care, as some are more expensive than others.
How to Make Home Health Care Affordable
Choosing to get the extra care for your elderly or ailing senior might prove to be costly, considering the rates discussed above. However, all is not lost. You can reduce the costs by changing up a few things here and there.
Home care can be provided by home care agencies or professional caregivers. The options have been expanded with the introduction of assisted homes and residential care homes. But most seniors prefer staying in their homes.
Below are tips on how to make home care for seniors more affordable.
Centralizing Services Provided
Who wouldn’t want to have every service provided to them under one umbrella? When offering home care for seniors in the comfort of their homes, home care agencies should strive to provide a variety of services, not just care.
They should create partnerships with other service providers like cleaners, shopping services, transportation, and handyman. The services are usually required for home healthcare but do not need to be charged hourly.
Home care agencies providing the services will not only make it affordable but also functional.
Understanding Costs
When budgeting for home health care, it is important to understand all the costs associated with in-home care. In essence, the costs are not just about paying for the wages.
Some extra costs include vetting, screening, training, and supervision. It is also essential that a back-up caregiver is kept in handy in case of an emergency.
Playing a Part in the Process
The costs of home healthcare may escalate, especially when taking care of seniors with chronic diseases or degenerative diseases that need more attention.
The senior adults may require more care, but affordability is key at times. To ensure that you keep your budget low and only seek outside help when necessary, you need to learn one or two things. Focus on playing an active role in the home care by learning how to carry out some basic tasks.
Explore: In-Home Care Options
Payment Options for Home Care
When looking at the cost of home care, it is important to understand the self-care you have at your disposal. Budgeting for home healthcare gets easier when you know you have options. The following are some of the options available;
1. Reverse Mortgage & HELOCs
The option provides for patients to pay for in-house hospice care using their homes as a financial resource. You can choose between reverse mortgages and home lines of credit for the payment option.
2. Life Insurance Policy Conversions
Life insurance policies holders have the option of converting their policy into cash or opt to receive home healthcare instead.
3. Home Care Loans
Currently, there are various financing options and loans from almost all situations. You can take out a loan for home healthcare purposes. The loans provide families with short-term solutions as they wait for other ways to finance the care.
4. Long-Term Care Insurance
Taking out the insurance policy allows seniors to enjoy home healthcare. All one has to do is purchase the policy, and they are taken care of.
Affordable Home Care
Choosing the ideal home care agency or the right caregiver for your senior relative can be a little frustrating. Do not worry; you do not have to walk this journey alone. We are here to help with your home health care needs.
Contact us to get more information on home healthcare options.
Home Health Care
