Is it less expensive to care for someone at home than it is to put them in a nursing home?
Home, Instead Senior Care poll shows 49% believe that home care is more affordable. It is about $6 an hour. 73% of surveyed seniors receiving paid home care were pleased with the care and value. It costs them an average of $17.10 an hour. The cost of companionship care, including essential assistance for cooking and light housekeeping, is more than $24 an hour and more than $26 for personal care, including bathing. The average yearly cost of nursing home care is $ 70,000, about 75% more than home health care.
Depending on the location and level of service, monthly fees will vary, but on average, home-based care is 42% less expensive than nursing homes. Services provided by nursing homes include housing, utilities, meals, recreational activities, and personal care. On the other hand, home-based care only consists of the cost of services rendered.
Financially, home care is a less expensive option for older adults to get the necessary service they require. For nursing homes, the fees and expenses vary from place to place and by their service, but roughly speaking, home care is 40 to 50 percent cheaper than nursing homes.
Nursing home services span a wide range, like housing, equipment, food, recreational activities, hobbies, personal care, and good nursing services. While home-based care expenses only cover service. However, it’s not a good sense of finance to opt for home care if costs for housing, catering, and utility bills yet exist.
It all depends on how much care a person requires. If the individual requires round-the-clock medical care, a nursing home may be less expensive.
In addition, the cost of a nursing home varies significantly across the country. There are four states – Alaska, DC, Connecticut, and Hawaii – where you will pay considerably more than you would in any others in the US; you must consider these.
In the end, it’s a very personal decision for each person.