Tag: Long Term Senior Care Costs

Basics of Senior Care at Home

The expert in-home care industry has never played a bigger part in American community than it does today. As the nation’s ageing middle-agers arrive at retirement age, family members around the country are faced with making critical choices on how to provide proper care to their ageing family members. In addition, with elderly people living well beyond their retirement age, the concern regarding senior care expands to the boomer’s parents as well.

Among the growing population of senior-aged People in America, the desire to age at home and stay separate is growing. In 1996, the U.S. in-home senior care market was $86 billion; by 2030 it is approximated to reach $490 billion dollars. Despite this growth, many people in America stay unclear about the choices available through expert in-home care services. Unlike other business models serving in-home care clients, expert in-home medical service suppliers put an emphasis on offering trained, fully screened, insured and bonded care providers. Companies operating in this segment of the senior care industry range from organizations with a nationwide presence to locally-owned agencies. Professional in-home medical service providers can offer care providers for as little as a few hours a week, when a family caregiver simply needs respite, to 24 hours a day. Also known as “private duty home care agencies”, most expert in-home care businesses provide a variety of services that are broken down into distinct categories: companion care and personal care.

Companion and personal care services can be administered in a variety of configurations including a client’s house, medical center, medical care service, hospice center, assisted living centers and pension centers. In every case, the use of a care provider can be a welcome respite for close relatives who act as the primary care provider and face emotional and physical stress. For elders in assisted living centers who need extra attention, sitter service from an in-home care agency can fill the need for companion care of up to six hours a day or longer. At pension communities, assisted living facilities, or in house configurations with spouses under the same roof, shared senior care service is a money saving option for several residents. A single care provider can provide the appropriate care needed for several individuals.

Long Term Senior Care Costs

It’s hard to predict the future. But it’s not a huge shock to learn that long-term care expenses are increasing. This has been a continuous pattern, however, as the economic downturn in combination with ageing middle-agers has not assisted with pension and health care expenses. And while old age and pension are generally associated with balance and relaxation, a time to reconnect with grandkids, golf and associate with friends. Today, our elderly people have been hit with the economic downturn, real estate problems and late retirements. And long-term senior care expenses have definitely affected not only elderly people and care providers, but also the country as a whole.

The good news? Medical health insurance is providing more. And different types of senior housing and care mean different expenses. We have found that many family members are not actually aware of the different senior living options as most search specifically for “nursing houses.” This detachment between community understanding and individual senior needs reveals us how important senior care cost education is to the United States. After all, smart planning for expected long-term senior care expenses is half the fight.

Here is more information on senior care expenses, depending on care type.

  • The national regular daily amount for rooms in a assisted living facilities has improved a little bit this season (approximately $10 more)
  • The national regular monthly base amount in served residing areas has improved a little bit this season (approximately $100 more)
  • The national regular house care on per hour basis rate improved a little bit by 5.3% in 2012

While these increases may be minor, they’ve only been over a season. This is why smart retirement and financial planning are so important for American families.