Can We Afford Care At Home

We Know We Need It, Can We Afford Care At Home?

This is a big question, especially in these tough economic times. You know your aging loved one needs help with activities of daily living, ambulation, medication reminders, light housekeeping, or transportation to appointments or social engagements.  You know it is important for their safety and security that your elderly parents have good quality care.  You know there are lots of choices for obtaining the care they need. But can you afford it? Consider the following information from MetLife's 2012 Market Survey of Long Term Care Costs. With this information you can make the most informed choice about caring for your loved one.

The Cost of Long Term Care - National Averages

Nursing Home

The national average daily rate for a private room in a nursing home is $248, while a semi-private room is $222 up from $239 and $214 respectively in 2011.

Assisted Living Community

The national average monthly base rate in an assisted living community rose from $3,477 in 2011 to $3,550 in 2012.

Adult Day Care

The national average daily rate for adult day services remained unchanged from 2011 at $70 in 2012.

Care At Home

The national average: hourly rates for home health aides ($21) remained unchanged, while the homemaker hourly rate increased by 5.3% from $19 in 2011 to $20 in 2012.

Caution! Avoid the Temptation

Given the costs shown above, you might be tempted to place an ad and directly hire a caregiver.Who could blame you? Times are tough and the cost of services from a reputable at home agency may seem out of reach.  Before you do, you need to be aware of the possible hidden costs of trying to cut corners when it comes to care at home for your loved one.  Tomorrow's blog post will explain in detail why you should avoid the temptation of directly hiring a caregiver rather than hiring a reputable in home care agency to care for your aging loved one.