Ways to Lower Cost of In-home Care
According to LongTermCare.gov, the average cost for in-home healthcare for elderly individuals can be around $21 per hour for a home health aide. That type of money adds up and it can mean spending as much as $3,000 to $6,000 a month. This type of expense can be too much for elderly individuals and their families to cover. There are ways that you can lower this expense, though, if your loved one is aging and in need of assistance. Here are six different ways you can lower the cost and save more money so that in-home care becomes more affordable.
1. Choose Independent Caregivers
You can seek caregivers through a home health agency, but they will be more expensive because you are paying the caregiver as well as the agency itself. You could, instead, seek out independent caregivers. They won’t have the overhead and this can save money. However, you will have to be especially careful to check credentials and recommendations when hiring a health aide.
2. Look for Tax Credits and Deductions
Sometimes, the cost of in-home care can be written off through taxes every year. While that won’t save money at the time, it can certainly help you recoup some of the cost you paid throughout the year.
3. Modify Your Home
Sometimes, homecare aides are needed for getting up and down stairs and in and out of the tub. However, if you modify your home, then you may not need to hire in-home care in the first place. You could install a ramp for steps outdoors, a stair lift for getting to the second floor, and walk-in tubs in the bathroom. This may fully eliminate the need for homecare altogether.
4. Choose a Meal Delivery Service
If the main purpose of in-home care is preparing food for your elderly loved one, then meal delivery services may be more affordable. You may wish to check on things like Meals on Wheels to determine what may be available in your area.
5. Shop Around
Different in-home caregivers will charge different prices. Be sure to shop around and compare before you hire one. You may be surprised at how much the expenses can vary, and it can certainly save money instead of just paying the fee of the first caregiver that you find.
All types of healthcare costs seem to rise regularly, and that can become quite a burden when you have an aging individual in your family. However, these five tips can help you lower that expense so that it isn’t too much. Don’t forget that your loved one may qualify for public funding, so read this article on that subject (How to Pay for in Home Care with Public Benefits). Additionally, read this article that will discuss how you can use private assets to cover the cost.(Three Ways to Use Personal Assets to Pay for in Home Care) In-home care can be expensive, but there are numerous different ways that you can make the cost more affordable or cover it without stretching your own expenses too far. Consider these tips and this will get you started in the right direction.
Tags: Home care