If you have decided to stay at your home while you age, you are not the only one who have taken such a bold decision. Bold because, there are lots of risks in staying alone in your home without any assistance or a home care agency looking after you. The most significant drawback is that you may need medical help at odd times due to falls and accidents that are so common among the aging seniors.
According to one specific study, almost 90% seniors prefer to stay at their own homesand age when they cross 65 years. They are highly reluctant to leave their home and move on to a nursing home or any assisted living facility.
- Aging at home is a preferable option in some instances but it is simply not a viable option if you have any medical condition or have safety reasons.
- However, today aging in place is much more a doable option than it was before which is why most of the seniors see a lot of real possibility in it.
If you are reaching 65 and are still in a dilemma whether or not you should stay at home henceforth, consider the benefits aging in place will provide you with. Remember, aging in place will seriously affect you in the real world.
The cost factors
Aging in place will cost you less. If you look at the nursing homes, care facilities and the assisted living facilities, all of these are expensive. Therefore, staying at home will cost you much less.
In addition to that, consider your financial health before you contemplate on moving on to one of these facilities. At this age you will have almost paid off your home mortgages. Research says that more than 20% of people aging between 65 and 74 has already paid their mortgages off completely. In such a situation, staying at home rather than any other facilities becomes not only affordable but even more attractive.
- Medicare does not cover long-term placements in such facilities. On the other hand, the Medicare PACE program can help you to cover some of the cost of for home health care Philadelphia as an alternative.
- If you consider Medicaid hen it will only pick up the costs after you have sold off almost everything that you own to cover the costs.
Breaking up the cost further for you, it can be said that it is found that on an average the cost of a semi-private room in a nursing home will be more than $6,844 a month and that was the 2016 figure of US Census Bureau! That means more than $82,000 a year. This is much more than the average household income in 2014 which was a little over $73,000 a year.
Home care is much more affordable
If you love math then this is for you: nursing home care in other wordsfor one person will literally cost more than the combined income of any married working couple and that too in the prime time of their lives.
On the other hand, the average cost for assisted living is nearly half the cost of nursing home care at $3,628 a month, but then that still comes up to over $43,000 a year.
On the flip side, if you consider staying at home while you age you will be able to take the advantage of Medicare coverage. This will help you to pay for the in-home help on a part-time basis. This is because:
- Medicare covers only part-time, skilled, in-home nursing care and
- It also pays for the home health aide care.
However, in all conditions such cares should be suggested by a certified and enlisted doctor. You will also need to be homebound according to definitions of Medicare.
Even if you do not take Medicare help, you will find that in-home care is much cheaper and affordable as compared to assisted living or nursing home care. This is because the health aide services will cost you about $20.50 for an hour of service on an average.
On the other hand, if you do not take medical help and opt for homemaker services then it will cost you just $20 an hour though Medicare will not pay for such four hours a day of service that may include things such as:
- Meal preparing
- Transportation to errands
- Other activitiesand
- General help.
Even if it costs you $80 a day or around $2,400 a month, you will be relieved both from these daily household chores and the high cost of assisted and nursing homecare.
Since these service providers will charge you on an hourly basis you can even customize your services according to your need. The costs will be significantly lower if you need such services for far less than four hours a day.
Friends and family
Another significant benefit of staying at home that is not directly related to the cost factor is that you will have your friends and family nearby you. They can help you a lot and provide you with the necessary care and assistance when needed.
In addition to that the community in which you have been living for so many years will also provide support services especially for the seniors. This will make your stay at home possible and for that you do not have to pay anything extra.
- There are also many different official organizations and local organizations that will provide meals to seniors who live and age in their homes.
- Apart from that, there are several regions where you will even get senior transportfor free as well.
- That is not all. You may also get low cost shopping and doctor visits on offer.
That means, to conclude it can be said that there is nothing like aging at home, You are free, around your known people and place and most importantly, with or without an aide, such kind of living is much more affordable as compared to assisted living or nursing home care.