There comes a time in life when individuals either desire socialization or simply aren’t safe living at home independently any longer.
Seniors often find themselves lonely at home with no one to interact with, no one to share stories with, and lack a quality of life. Other seniors may require assistance due to physical limitations or cognitive impairments. Caregivers and companions are available in different settings to assist with tasks of daily living, including showering, getting dressed, preparing meals, medication management, or even just getting around.
Regardless of the reason that someone may need assistance, it’s important to know that help is always readily available. Companions and caregivers are available to seniors in different settings. Families can hire companions to visit their loved ones on hourly schedules as little as three hours per day or be actively involved in their care 24 hours per day. The alternative, and often the more affordable option, is to relocate a senior into a senior housing community.
Senior housing is available in different settings including independent living, assisted living, and specialized dementia or Alzheimer’s care facilities. Independent living communities, also known as retirement homes, are designed for independent seniors that don’t require assistance on a daily basis, but would greatly benefit from an active lifestyle and socialization opportunities. There are many activities scheduled daily for individuals to participate in an active lifestyle that is desirable to them. Whether they prefer partaking in current event circles, playing a game of bingo, or enjoying some live entertainment, communities make the environment engaging and fun for their residents.
Assisted living communities cater to those individuals that may require total care or as little as a single service such as medication management or shower assistance. Regardless of how much care someone needs, splitting the cost of care with other residents will always be more cost efficient than bringing care into the home.
Comparing Costs of Care
The cost of home care has gone up in recent years due to stricter implementation of labor laws. To hire a personal caregiver into the home from a licensed and insured agency, which performs proper background checks on their caregivers, ranges between $19/hour and $30/hour. Simple math shows that for a senior that requires 24 hour care, a monthly bill can far exceed $10,000, often hitting $15,000. This is of course not an affordable cost for most individuals. For those fortunate enough to afford this option, there are certainly many benefits to keeping a loved one at home in a familiar setting, minus the lack of socialization.
In assisted living communities, the cost of care is far more affordable as each caregivers salary is split between the many residents that live in the community. Assuming not everyone requires a companion to be with them throughout the day, having caregivers available on call is the more financially efficient route to go. Most large assisted living communities have at least one caregiver for every ten residents, whereas a smaller residential board and care home has at least two caregivers for six residents.
Assisted living communities range in price based on location and luxuries. Shared studio apartments can start as low as $1,200/month while private suites can go as high as $8,000/month. On average, private living quarters in an assisted living community are between $3,000/month and $5,000/month.
In addition to saving money on the cost of care by splitting caregiver salaries with other assisted living residents, there are cost savings by not paying for rent, food, transportation services, housekeeping duties, and more. Savings on these costs of living can exceed thousands of dollars.
If you, a family member, or a friend would like to explore assisted living options, or simply learn more about options available in your area, call Total Senior for a free consultation with a local senior living advisor.