In Home Care | Home Health Care Costs | Compare Elder Care Costs | See What The Major…

Compare Elder Care Costs | See What The Major Options Cost

In this article we will compare elder care costs for in-home care, nursing home and assisted living facilities.  In-home, nursing home and assisted living costs are high – plain and simple.  And chances are, they will only continue to increase over time.  So, as the number of candles on your birthday cake rises, assisted living costs will likely continue to rise as well.

“Senior healthcare and other elder care is a huge financial business – reaching into the millions, and even billions, of dollars.  The scary part is that very often seniors or their caregivers are left footing a good portion of the bill because their nursing and assisted living costs are not covered by insurance.  Here’s some info you need to know about general costs so you can better prepare for your future, or that of a loved one.”

Compare Elder Care Costs: An Overview


It’s hard to provide exact costs, because every person’s situation and level of care is different.  Each facility in a particular care level will also charge different prices, depending on various amenities and level of care and service.  But to give just a general guideline as a basis of comparison, you can expect in-home aids or companions (non-medical) to cost about $15 – $25 per hour, while those offering in-home medical services will charge around $21 – $35 per hour.  Once you get into assisted living pricing, there are many variables to consider that will affect the bottom line, but as a general rule of thumb, you can expect to pay around $100 or more per day for care, with nursing home costs coming in at least double that amount or more.

Making Sense When You Compare Elder Care Costs

When it comes to looking at senior care, whether medical or otherwise, it all gets very confusing.  There are lots of numbers to throw around – big numbers – and you’ll get them quoted to you in lots of different ways, which makes it harder to compare.  Some prices are quoted hourly, some as daily rates, weekly or monthly rates, or annual rates.  Some costs are just one time fees.

The best thing to do is to try to equalize all costs so you are comparing apples to apples – so for example, what will it cost per day or per month for any given level of care of service.  You also then need to consider how much of your care will be covered by insurance, whether that be Medicare, Medicare gap insurance, private health insurance, long term care insurance or other managed care policies.

Understanding Differences In Levels of Care

You can’t simply compare assisted living prices with in-home companion or nursing homes to decide which option is best.  Each different price tag comes with varying levels of care.  In some cases, the care you pay for is a bit of a luxury, simply making life a bit easier for you or a loved one (or the caregiver that is responsible for providing care).  But in other cases, that extra level of care is a necessity to keep you alive or to keep you safe.  Here is a general overview of the different levels of care.  Within each level, care and services will still vary, and so will costs, but it will make it easier to determine costs in relation to services.

In-Home Companion or Aid (Non-medical)

Provides some general assistance with day to day activities, such as light housekeeping or laundry, food preparation, and shopping.  They can also provide companionship and assistance to someone that is home alone most of the day.  This can enhance quality of life and can extend the amount of time a person can live independently – and it can reduce the amount of time a family member needs to spend attending to non-medical day to day issues.

In-Home Medical Services

Provides basic and limited medical or nursing assistance in a person’s home, including monitoring of medical conditions, medication management, giving injections or handling wound care.  In some cases, bathing, feeding and dressing fall in this category, but in the absence of other medical needs, an in-home companion or aid can often help with these tasks.

Assisted Living Facility

Want to know why assisted living costs are so high?  Assisted living typically offers 24 hour per day supervision, as well as meal preparation, activities and other services.  The person still has their own independent living space, but has access to all of the services offered by the facility.  Assisted living costs can vary greatly by facility, depending on the living accommodations (which can often be rather nice) and also on the level of basic services, as well as add-on services, that are offered.

Nursing Homes or Long-Term Care Facilities

These costs can be exorbitant because they include 24 hour around the clock nursing and medical care, as well as daily living care.  Residents typically live in shared or individual rooms within a common facility and all aspects are handled by the nursing staff.  There are also sub-acute facilities that provide a similar type of long term care, including rehabilitation, following a hospital stay, injury, surgery or illness.  These are not permanent situations and the length of stay will vary by need.

Preparing For Elder Care

As you can see, the costs can add up rather quickly, and can pop up even when unexpected, such as due to a fall or sudden illness.  Therefore, it is important to look into ways to meet any potential future needs.  Meet with insurance agents, financial advisers or elder care consultants to get some advice on how to prepare for future financial situations, such as the high cost of in-home, nursing home and assisted living.