How To Reduce Costs Of Caring For Your Aging Parents

In an earlier post (Can We Afford Care At Home) we talked about the costs of care for our elderly and aging population.  Here is a brief recap of those costs (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.

You are probably not surprised to see that NONE OF THE COSTS are DECREASING!  And, you are probably wondering about the best way for you or your aging parents to reduce the cost of care.

One of the best ways to mitigate these costs is to only pay for what you need!  In-home care for aging parents is the best care option because it gives you the most choice in how many hours of service they need and it is usually the most economical service available in your area.