|Type of Long Term Care||Monthly Median Costs: Sacramento Area, CA|
|Source: Genworth Cost of Care Survey, 2020|
|In-Home Care (20 hrs/wk)||$2,665|
|In-Home Care (40 hrs/wk)||$5,330|
|Assisted Living Facility||$5,395|
|Nursing Home (Semi-Private Room)||$9,946|
|Nursing Home (Private Room)||$13,688|
According to Genworth’s 2020 Cost of Care Survey (“Survey”), a part time In-Home Care working 20 hours a week would cost $2,665 each month and is half the cost of assisted living facilities at $5,395 per month. A full time caregiver’s monthly cost working 40 hours each week at $5,330 a month is about the same as assisted living facilities, and much less than nursing homes costing between $9,946 to $13,688. Many seniors can prevent or delay moving into expensive facilities with the care and assistance of a qualified home caregiver working on a part-time basis or even full time basis. When considering home care vs. assisted living the driving factors of cost, lifestyle and quality of life favor in-home care.
If a higher level of care is required and you are considering a nursing home, a qualified caregiver offers greater continuity of care, and a better living experience–often at a lower cost. According to the Survey, the monthly cost of a nursing home ranges from $9,946 for a shared room up to $13,688 for a private room. The monthly cost for in-home care at 8 hours/day 7 days a week is $7,462 per month, or between 25% to 45% lower than nursing home care. The cost of in home care is comparable to a private room in a nursing home when in-home care is required 16 hours a day 7 days a week.
At Better Living Home Care, we routinely provide higher needs clients with caregivers who have worked as certified nurse assistants (“CNA”). CNA’s are the same care workers who provide the hands on care in nursing homes. Many seniors living in nursing homes could be living at home with the right caregiver, and it would cost less.
In a recent survey conducted by Genworth, two out of three respondents expected government programs to cover all or part of their long term care costs. Except for the poorest individuals, government programs do not pay for the cost of long term care. Long term care is typically paid by the individual receiving the services. About 7% of adults over 50 have long term care insurance, which may cover some or all the cost of care. Reverse mortgages are a popular source of funds for in-home care. Veterans Administration programs may provide assistance to veterans and their spouses. Only the very poor receive assistance from Medi-Cal, which may pay for nursing home custodial care, or in-home care services from the In-Home Support Services program in their county. Medicare, unfortunately, does not pay for long terms care.
The No. 1 objective of most families is to help their loved ones stay in their own home in a safe and familiar environment for as long as possible. No one’s first choice is to go to a facility or an institution no matter how pretty the building or the décor. For a senior to stay in their own home safely they may need just a few hours of assistance or they may need 24/7 care. A Better Living Home Care offers a free in home care consultation to assist you in determining the best in home care solution based on your needs and within your budget and provide a home caregiver suited to meet your needs.
The best way to know how much home care services will likely cost is to talk to one of our professionals. We’ll help as you develop a plan for care that meets your care and lifestyle requirements, and keeps your aging loved one safe and in their own home. Ask about options like The VA Aid and Attendance Pension Benefit, life settlements, and long-term care insurance. Chances are that one of those programs may be able to help with the cost.
The start date is up to you, and our team is dedicated to getting a caregiver in your home as soon as you need them. It is best to be proactive. Call today to speak to one of our staff members so you will have all the information you need when the time comes and you are ready to start services.
Long term care services are covered by long term care insurance, depending on your policy. As long as your policy covers home and community based care, it should include in-home caregiver services.
Unfortunately, Medicare and most health insurance companies do not consider in-home care a medical service, so they do not provide coverage, and health care reform has not significantly affected their policies.
By talking with A Better Living Home Care expert, we will make sure you understand your options, and how to best meet your needs within your available resources. We will share with you the ways families have been able to pool their resources together to provide this care to their loved ones.
We specialize in providing in-home caregivers for your specific needs.
A Better Living Home Care Agency makes it easy to get started with senior home care services in the Sacramento area.