It’s hard to believe that less than 2 months ago I thought $8500/month for assisted living was outrageous, when now I’m paying $9000/month for in home care, and I/we still have to be here 60+ hours per week ourselves. AND maintaining the house, utilities, taxes and groceries is another approx. $2500/month (haven’t totally figured it out yet.). Plus the physical and emotional toll is incalculable.
Home care costs more than assisted living. Many people think they can easily manage home care aides. But it’s harder than you think. You need 24/7 caregivers. One person live-in can’t do it all. You need relief aides, housecleaners, errand people, food brought in and cooked. Plus withholding, insurance, business things. A facility provides it all.
I managed care in the home for both parents and wouldn’t do it again.
When comparing the costs, you need to take into account that AL includes all the housing and food costs, cleaning, and laundry, as well as the assistance. If you hire in-home caregivers, that's not the only cost of remaining at home--you'd still have the housing costs (rent or mortgage, insurance, utilities, taxes, maintenance, etc. ) plus the cost of food and supplies, plus transportation (which is provided by many AL's for Dr visits and outings). If you have someone, or several people, give up their own lives to provide in-home care, there are still these fixed costs, and there's a "cost" to caregivers in giving up their own income and contributions to their own future needs (social security, pension, savings). And that's not to mention the emotional and physical toll on caregivers. I'm a senior myself and I've told my kids in no uncertain terms that I'd much prefer going into AL or a nursing home to staying home and being a burden on them. I'd hire help for what I need at home, within reason, but not if I need someone available for 24 hours a day for safety or assistance.
If you're asking about which is more cost-effective, it all depends on what you consider the goal or solution.
Then there's the other hidden costs... the emotional, mental and (sometimes) physical health of the caregiver that is impacted by living with one or both parents who are in decline.
I managed care in the home for both parents and wouldn’t do it again.
You may not have thought about this, but a contagious health issue (COVID as an example) can quickly affect many in an AL or NH
If you're asking about which is more cost-effective, it all depends on what you consider the goal or solution.
Then there's the other hidden costs... the emotional, mental and (sometimes) physical health of the caregiver that is impacted by living with one or both parents who are in decline.