For many older adults and their family members, trying to determine elder care costs can be baffling. When making care plans, there may be more cost options than you think.
Some people think elder care and “nursing homes” are the same. A care facility may be a good option if your elderly relative needs round the clock assistance. If your loved one does not require constant care, there are a number of elder care management options.
If your elderly relative does not need round the clock care, consider in-home care and home health care. A professional caregiver can help your loved one with specific needs which only require a few hours a week or a few hours a day.
If more than a few hours a week of care are required, some care facilities may be an affordable option. Costs vary from state to state and city to city. When you compare prices, you should first consider what level of care your loved one needs. Then, be sure you find out what is included in the facility fee and what costs are extra. Learn about ways to help pay for this care through veterans benefits, sale of the senior’s home, long term care insurance and life insurance benefits.
Even if your elderly relative needs full-time care, the cost of a full time home healthcare worker might be an option to look at in place of a care facility. However, while the older adult may be more comfortable remaining in his or her home receiving care, remember that you have to account for the costs of rent or mortgage payments, property taxes, food, utilities and other costs of maintaining the senior at home.
Also, if you choose in home care, you will need to schedule caregivers, manage medications and have a plan if a caregiver is absent. You should consult with your accountant about the tax implications of employing caregivers if you employ such persons on your own instead of using a caregiver agency. In addition, consider that persons living at home have less interaction with others and fewer activity options.
Elder Care Consultants of Texas can help you determine which senior living option might be best for your loved one. We can recommend companion and home health care firms and facilities with varying levels of care known to us and help you calculate the cost of each option. Also, we have a licensed social worker available to you who can help you with your elder care management of your loved one.