When Do In-Home Care Costs Become More Expensive Than Assisted Living?

When you notice a loved one needs assistance with activities of daily living (ADL)– cooking, cleaning, getting dressed, eating, medication reminders and more – your first thought might be to get them some in-home care. However, is that the best option? Sure, staying at home can provide familiar surroundings, but there may come a time when home care cost starts to negatively impact their finances. To better understand your options, here’s how to figure out what type of care works best and a comparison of the cost of assisted living vs. in-home care.
How Much Help Do They need?
Before deciding between aging at home vs. assisted living community, you need to figure out how much help your family member needs and compare that with how much help is already available. Make a list of everything they need help with on a daily, weekly and monthly basis. Being able to see the whole picture can help you choose the correct level of care.
Next, be realistic about how much help you, family, or friends and neighbors will provide. It’s important to think about this in terms of long-term, ongoing help because a few weeks or months isn’t going to be enough.
After comparing both lists, you will have a better idea of how much additional help will be required. This may make your decision on in-home care or assisted living immediately clear, and it may not. Either way, it will be a very helpful tool as you continue.
What Is Assisted Living?
An assisted living community allows your family member to stay independent for as long as possible. Plus, a community’s around-the-clock staff is there to assist in the event of an emergency. According to a 2023 study by leading long-term care insurance company Genworth, the average national assisted living cost is $5,350/month. Assisted living services typically covered by this monthly fee include the following:
- Three meals a day
- Nursing care
- 24-hour security
- Wellness programs
- Daily activities
- Social events
- Housekeeping
- Health services
- Laundry services
- Transportation services
Assisted living pros and cons:
Pros
- This is a more affordable way to get 24/7 supervision and care.
- Care is tailored to your family member’s needs and preferences.
- Your family can focus on having a personal relationship with your loved one rather than tending to their care needs.
- They’ll have plenty of opportunities for social interaction with other residents.
- You no longer need to worry about hiring, scheduling or managing your family member’s caregivers.
- If the need for a higher level of care arises, most assisted living communities have on-site long-term care options.
Cons
- It may take time for your loved one to adjust to having new neighbors.
- Your family member may have trouble choosing what to do.
You can find tips on paying for assisted living here.
What is In-Home Care?
Assuming your loved one’s house is already equipped with grab bars, ramps and other equipment to ensure their safety, in-home care allows them to age in the comfort of home. According to Genworth’s 2023 study, the average national cost of an in-home aide is $6,292/month and assumes 44 hours a week of care. If your family member needs more care, then you can expect the home care cost to be higher. In-home care services typically include the following:
- Personal care
- Companionship
- Supervision
- Laundry
- Light housekeeping
- Meal preparation
- Medication reminders
- Shopping
- Errands
- Transportation
In-home care pros and cons:
Pros
- Your loved one will have one-on-one care tailored to their needs and preferences.
- Your family member can stay in their home.
- The cost depends on hours of care needed and caregiver skill level.
- You’ll get to choose the caregiver.
Cons
- Costs will be very high if 24/7 care is needed.
- Your loved one’s in-home caregiver won’t have real-time backup or supervision.
- You’ll need to hire and manage caregivers, as well as create a care option backup plan.
- There is the potential to become socially isolated.
- Your loved one’s home may need to be modified for safety and/or wheelchair accessibility.
- You’ll still need to arrange for housekeeping and shopping for groceries, personal care items and household supplies.
- You’ll need to keep up with home maintenance and upkeep.
Choose Award-Winning Care for Your Loved One
When it comes to choosing between aging at home vs. assisted living community, each situation is as unique as the individual. To visit our award-winning assisted living at South Port Square – named Best of Senior Living by A Place for Mom 2 years in a row – use our Community Assistant chat feature or contact us here. You and your loved one are sure to love our private apartment homes and resort-style amenities.