Around 93% of Older US Adults Refuse Care Homes—But Only 21% Can Afford the Care to Make It Happen

For anyone, preserving their independence and maintaining control of their lives is important. The same holds true for elderly folks who prefer to live independently rather than live in care homes or nursing homes.

This is understandable since even at an older age, folks prefer to live as they please. Aside from that, there is the matter of cost and the thought of being holed up in a whole new environment. Hence, it is not surprising that research by the Pew Research Center showed an almost majority of US adults were not keen on living in care homes.

In that research, it was found that 93% of US adults aged 65 and older revealed they lived in their own home or apartment. From that group, 9% said that they also have someone who provides care for them.

That sample group of people revealing they get some care from someone is critical. At some point as people grow old, there will be those who will need assistance. There is no telling in what capacity that may be.

However, a caregiver or a nurse appears imminent, although the next question is whether these ageing folks can afford it.

Home Care Won't Last Forever

Elderly folks can continue living in their own homes and get the proper care needed. However, this may be costly, especially if caregivers or specialists are commissioned to render services on occasion. These are usually nurses or caregivers, people who are normally paid by the hour.

The rate varies, depending on what service needs to be rendered by a home health agency. The frequency of visits will also be a factor in the costs involved. Worth noting as well is that urgent medical support is not included and may be an additional expense.

Given these scenarios, there is no doubt that getting personal care at home is costly. It is understandable that elderly folks prefer to live in their own homes, believing they can still do the same things they could when they were younger.

However, the reality of it all is that the comfort, freedom and independence that most had at one point do not last forever. Disabilities due to illness or old age are a given, meaning slowing down as people age should not be surprising.

Care Homes Can Do Better

Hesitant as elders may become, a plausible solution is a care home. Hence, the first wise thing to do is to talk to the elderly and reason with them. This can be done by showing the cost of having personal care against the cost of being in a care home.

With most of the services in care homes located in-house, there is no question that it will be more affordable compared to personal services. The costs involved may be staggering, estimated to start at roughly $200,000 (£150,000), as per Premier Home Care.

At first, that may seem like a lot. But if one tallies the personal care that is charged by the hour multiplied by the number of months or even years, the likely result would be more than that. Further, it may not include all the services an elderly person may need.

Covering Rising Costs

Some folks may have saved up enough funds or receive some financial support from relatives to help cover the cost of staying in a care home. If not, there are government programmes such as Medicaid or Medicare that can help cover the costs.

In the case of Medicaid and Medicare, there are certain requirements to meet. This includes income and asset limits, something that varies by state. That in turn helps determine the coverage one can be entitled to.

There are other government programmes to consider, each varying from one another. This may not entirely cover the expenses needed by the elderly when it comes to covering their care home expenses. Hence, the rest of the funds needed will still depend on what the elderly person still has and what his or her family can afford to shell out for the remaining years of their lives.