How Much Does Senior Care Really Cost?

As far as senior care goes, when it comes down to it- one thing people really care about is how much does it cost?
So today I want to share what senior care actually costs. All figures are averages– and depending on circumstances (level of acuity), cost can increase significantly. Rates were based on Genworth’s Annual Care Costs report.*

Homecare– (this is what Capability Homecare  provides)

  • Caregivers are assigned to a specific client and assist with medication, mobility, personal care (assist with toilet, catheter & ostomy care), bathing, meals & nutritiion, housekeeping, transportation, skin care, and ADL’s.
  • For 8 hours a day of service- it can cost around $240 a day (average cost is around $30 per hour, most agencies have a 4 hour per week minimum). Care can be short term or long term. Care is usually paid for privately or with LTC Insurance.

Assisted Living

  • Facilities that provide supervision or assistance with activities of daily living (ADLs); coordination of services by outside health care providers; and monitoring of resident activities to help to ensure their health, safety, and well-being. Meals, housekeeping and care are provided. Caregivers assist residents, but are not assigned one on one.
  • Depending on how much care is needed- costs can range from $6000 a month to upwards of $7000+. Memory care is often more expensive. AL is paid for privately or with LTC Insurance.

Adult Family Home

  • Homes that have been configured to provide housing, meals and care for between 2- 6 senior residents. They are often for people with dementia, but each home is very different and specialize in their own specific care.
  • Because there are so many homes in the Greater Seattle area, we recommend using a Placement Specialist to find the best fit for your specific needs.
  • Most homes have a home doctor/ or nurse practioner who regulary visit the residents (billing Medicare)
  • Cost can be around $6000- $7000 a month.

Skilled Nursing Facility

  • This is more of a hospital type setting. Often seniors will share a room with another person. There is a MD on staff as well as nurses, caregivers, social workers and rehab staff.
  • If there has been a hospital stay (with 3 midnights) Medicare will pay for services- for a limited time. Sometimes, after Medicare stops paying, people chose to continue on at a SNF and live in the Long Term Care wing. The average daily cost for private pay in a SNF is $320 (semi private) and $420 (private) a day.

Adult Day Care

  • Drop off daycare where seniors can socialize with other seniors, enjoy a meal and participate in an activity or outing. Seniors enjoy the companionship of other seniors and have access to staff.
  • Average cost of Adult Day Care is around $100 a day.

Home Health

  • Services include Wound Care, PT, OT, Speech therapy, Social Work and sometimes a bath visit. Clinician comes to the client’s home to provide services on a short term basis.
  • This is generally covered by Medicare- and must be received under doctor’s orders and meet certain requirements (patient must be considered homebound). Different than Homecare- but the two services complement one another and often get confused.

Hospice

  • Must be determined by MD and meet certain criteria. Nurses and caregivers provide comfort care for terminally ill patients.
  • Medicare benefit.

Long Term Care Insurance

  • Often a great way to pay for many of these services. It does require advance planning (usually around 10 years), but can be a lifesaver if needed. Be sure to buy from a trusted agent and do your homework!

Elder Care Attorney

  • Speak to an Elder Care attorney who can help protect your assets and do long term planning for your estate.
For more information about any of these options, please call Capability Homecare. We have many trusted partners that we would be happy to refer you to. 
*https://www.genworth.com/corporate/about-genworth/industry-expertise/cost-of-care.html
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