A Place for Mom's Family

Elder Care Costs: Comparing In-Home Care, Nursing Homes, and Assisted Living

The population of American seniors is expected to double in size within the next twenty-five years, according to a special study entitled 65+ in the United States: 2005, commissioned by the National Institute on Aging (NIA) and conducted by the U.S. Census Bureau,. As our aging population continues to grow, so does the demand for elder care, for both in-home care and residential facilities. At some point we may need to make decisions for ourselves or our loved ones when living at home alone is no longer possible and more care is needed. But can we afford the elder care costs? How much do the options really cost?

Three options for seniors and their families to consider are: in-home care agencies, nursing homes, and assisted living communities. It makes sense to most people that nursing homes, with their more intensive levels of care, cost more than assisted living communities. But many don't realize that the elder care costs associated with home care can quickly outpace the costs of assisted living as well. Because home care agencies typically charge by the hour, it will depend on how much care is needed, but the expenses can add up quickly for anyone who needs extensive help.

This article continues at Elder Care Costs Comparison.

Thank you for good information, but the last few lines about in-home care agencies offering "trained professionals" is not my experience (and really kind of pathetic). Asking other readers of this article who have experience with agency "in-home aids" to post here if they have had a positive experience with the agency.  I'm sure there must be some good agencies out there, but haven't experienced that. Thank you for being a resource for care-givers. 

I think our elderly loved ones should be the one to decide whether they want to move in a nursing home, assisted living facility or receive home care. Leave the decision to them and respect it. Though cost can be a very big factor, don't let it be the primary factor in choosing the long term care for your loved one.

The elderly has many options these days such as hiring caregivers, nursing homes and assisted living facilities. They may have variety of options but if they aren't prepared they might find it difficult to pay for their long term care expenses. It's very expensive to cover these expenses, so as much as possible they should purchase a policy that will make their retirement years more comfortable and free from debt.

Very useful information you shared with us...The other main reason why you hire these firms is to cope with the new form of diseases. Let's take an example that your elderly person becomes diabetic, which is very common at this old age, so it is the condition to regularly check up their heart rate, what kinds of foods they are eating and most important, when they take their insulin.

These all three are different from each other in matter of services. Their criteria of services are different, so their prizes are also differs from each other. In care home and nursing home you have to put your senior/ elderly at their place while in home care you hire a caregiver. 

Such an enlightening article. I believe that choosing a senior care facility should be a personal process. An elderly person should be given the liberty to choose the type of care or facility that he or she wants to receive. However, you should also evaluating the person's living needs and abilities.