Get Smart About Senior Care Costs
There are a variety of options available for any budget.
It's never too early to plan care for an aging loved one.
Before their health begins to decline, you and your family
need to agree on the kind of care they need, and how it will
be paid for.
To get an idea of the average costs of popular senior care
options, see below. And keep in mind that while your loved
one may be fine with occasional care now, they could need
more serious and expensive care in the future.
So, How much does it cost?
In-Home Technology
Personal Emergency Response (Medical Alarm)
Allows your loved one to age in place while having the ability to summon help 24 hours a day in the event of an emergency.
Cost:$37 per month.
Medication Management via a monitored medication dispenser
Dispenses medication up to 4 times per day. In the event of a missed dosage the unit notifies a live operator who then notifies family members or caregivers of the missed dosage.
Cost :47 per month.
In-Home Care
Enables your loved one to stay at home throughout every stage
of aging.
Cost: $29 per hour on average, but costs vary. (Source: U.S.
Department of Health and Human Services).
Assisted Living
Offers your loved one an independent lifestyle, with trained
personnel on the premises to attend to their needs.
Cost: $36,372 per year (Source: MetLife Market Survey of
Nursing Home and Assisted Living Costs).
Nursing Homes
For elders who cannot care for themselves or have
significant medical issues that require round-the-clock
care.
Cost: Private room, $77,380; semi-private room, $69,715
(Source: MetLife Market Survey of Nursing Home and
Assisted Living Cost).
Occasional Care
Periodic assistance with lawn care, transportation, and
grocery shopping. Cost varies according to need.
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