Every day, about 10,000 individuals of the Baby Boomer generation reach the age of 65, and by the year 2030, every single member of the generation that shaped our modern world will be at least 65 years old. Because it is such a seismic upheaval in the demography of this country, it has even been given a name: the grey tsunami.
If you’re now riding that wave, it’s probable that you’re in the process of making some decisions about life on the horizon, either for yourself or for your aging parents. There has never been a time when the demand for home care options was higher than it is right now, particularly among Baby Boomers who are determined to age in place for as long as they possibly can.
We are aware that the cost of in-home caregiving is a significant obstacle for many people. There is a widespread misunderstanding that people who can afford care at home are the only ones who can receive it. However, that is not at all the case. At Potomac Homecare Services, we find that many individuals are uninformed of the many alternatives that are available to them for paying for the care that they require and desire in order to remain in their homes. This is a problem since having this care allows people to remain in their homes longer.
In order to get the process off to a solid start, it’s important to ask these three questions:
- How much does it cost to receive care at home?
- What sorts of services are required to meet my requirements (or the needs of someone I care about)?
- How do I go about making the payment for it?
Expenses Associated With Providing Care At Home
To begin, we do not try to hide any of the information regarding the price of in-home care that we provide. There are no unexpected expenses or fees waiting in the shadows, and there will be none of those reflected on your statement.
The following is a rundown of what you may anticipate, broken down per service:
- Skilled nursing: $325 set-up cost, $125-$150 each visit
- Visits from registered nurses cost between $120 and $145 per hour.
- Visits by a licensed practical nurse cost $55 per hour during the week, but $60 per hour on nights, weekends, or holidays.
- The hourly rate for a home health aide for one individual is $36 during the weekdays and $39 on the evenings or weekends.
- The hourly rate for a home health assistant for two individuals is $41 during the weekdays and $44 on the evenings and weekends.
- Prices for homemaker services start at $29 an hour.
- Prices start at $29 an hour for companion care.
Which Sorts Of Services Do I (Or The Person I Care For) Require?
Now that you are aware of the prices, it is important to make a decision on the kind of in-home services and the frequency with which you require them. It’s possible that all you require to continue living in your home comfortably is assistance with grocery shopping, food preparation, and light housekeeping two or three times per week. It’s possible that you or an elderly loved one may benefit from having a companion to help combat the feelings of isolation that sometimes come with getting older. It’s possible that you and your spouse (or your parents) might benefit from having a home health assistant who provides daily assistance with activities such as medicine reminders, bathing and grooming, transfers from bed to a wheelchair, and other services. There is also the possibility that you or a loved one of yours requires nursing care on a weekly or biweekly basis. Perhaps what you require is a mixture of the things listed above.
After determining the kinds of services you require and the prices associated with them, the next question to ask is how you should ideally pay for everything.
Taking Care Of The Costs Of Homecare Services Potomac
At Potomac Homecare Services, we frequently observe clients being taken aback by the variety of payment methods that are made accessible to them. Among the choices are:
Both Medicare and Medicaid have approved Potomac Homecare Services as a provider, and as a result, the majority of our services are either fully or partially covered by both programs. Because companionship and housework are not considered to be medically necessary, they are not covered by insurance.
Long-term care insurance: Not everyone has long-term care insurance, and not everyone can qualify for it, but this type of insurance can be an excellent method to pay the costs of care. The most important thing is to take prompt action and to get coverage far in advance of any potential needs. You may learn more about it by reading this article that was published by AARP.
Some types of life insurance plans provide coverage for long-term care expenses. Check with your provider to see whether or not you have a plan that includes that benefit.
The third choice is to pay for everything out of one’s own wallet, which is known as “out of pocket.” Annuities, investments, savings, or income created through means such as reverse mortgages are all viable options for people to employ.
Even if it can sound difficult, we are here to assist you in determining the most effective approach to offer Homecare Services Potomac for your loved ones or for yourself. During an in-home consultation, we will go through all of your available choices in order to determine which one best suit your needs.