Deciding how to best care for the older generation is a personal, life-changing matter that can put a financial and emotional squeeze on the elderly and their families. Fortunately, elder care choices have expanded beyond residential nursing care. Today, supportive home care services are an increasingly sound choice for thousands of families.
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Planning ahead for elder care is crucial to help save money and prevent pressured decisions when the time for help is needed. It’s important to research available care services, and, as much as possible, to include your senior in the discussion. For how to talk through a planning strategy with your loved one, see our “Top 10 Things to Discuss With Your Parents”. We’re here to address your questions and concerns and help you make the right decision for the best care for your senior. Contact a knowledgeable care consultant today.
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Home Care Can Save You MoneyIn early 2013, Genworth, a leading Fortune 500 insurance holding company, conducted its 10th annual Cost of Care Survey. The survey included nearly 15,000 long-term care providers across the country and detected a sizeable increase in the cost of facility-based care compared to a gradual cost increase for at-home care. The 2013 summary findings include:
National Medium Hourly RateIncrease Over 2012 Home Care Services (Licensed)$181.39% Home Health Aide Services (Licensed)$19 National Medium Daily Rate2.32% Adult Day Health Care$65 National Medium Monthly Rate6.56% Assisted Living Facility (One Bedroom – Single Occupancy)$3,540 National Medium Daily Rate4.55% Nursing Home (Semi-Private Room)$207 National Medium Daily Rate3.30% Nursing Home (Private Room)$2303.60% |