Understanding the Cost of Assisted Living vs. Home Care
It's common to wonder whether assisted living is affordable and to assume that staying in your current home with care services will be cheaper. But that's not always true.
According to the Genworth Cost of Care Survey Tool, the national median cost for assisted living in 2021 was about $4,500 per month. In comparison, having a home health aide come to your home cost about $5,148 per month. Surprised that home care is more expensive? Many people are.
However, keep in mind that the cost for a home health aide is based on 44 hours of care per week. If you need fewer hours, your costs could be lower. The Genworth tool lets you adjust the hours to get a better estimate that matches your actual needs.
Even if the adjusted cost for home care comes out lower than assisted living, it doesn’t necessarily mean it’s the better deal.
Assisted living includes more than just care. It also covers many living expenses you’re currently paying, like property taxes, utilities, home maintenance, cleaning, and even meals. When comparing costs, it's important to add up all these current living expenses along with any home care costs you’re paying now.
To make this comparison easier, our handy calculator can help you see the full picture. You might find that, when you add everything up, assisted living is actually the more affordable option.
Is Care at Home the Right Choice for You?
Even if home care seems less expensive, it’s important to consider whether it’s the right fit for your needs. Below are some things to think about.
Your Home’s Layout
If your health has changed and living in your current home has become difficult, how practical is it to make your home more accessible? Would modifications like ramps, stairlifts, or bathroom changes be too extensive or costly? If so, moving to an assisted living community with senior-friendly layouts might be a better option.
Location
Think about how close you are to the places you need to go, like doctor appointments, grocery stores, or visits with friends. If you can’t drive yourself and need transportation, are there reliable services available when friends or family aren’t around? Many assisted living communities offer transportation services, making it easier to get around.
Availability of Services
Check if the home care services you need are readily available in your area. Even if agencies serve your location, they might struggle with staffing, leading to canceled visits and last-minute changes. In an assisted living community, care is provided by on-site staff, so you won’t have to worry about service interruptions.
Strain on Your Family
Even with at-home care, your family may still be providing a lot of support. If you notice they’re reaching their limits, moving to assisted living could ease that strain, giving them more peace of mind and allowing them to focus on spending quality time with you.
Summing Up
Assisted living can be a great alternative to home care. These communities offer accessible living spaces, take care of property maintenance, and include services like housekeeping and transportation. They provide restaurant-style meals that cater to special dietary needs, offer a wide range of social activities, and have staff on hand to help with personal care when needed.
Consider what’s most practical and comfortable for you as you make your decision.
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