Estimated costs for different types of senior care
The following is an estimate of the costs of the varying types of senior care for your aging parents:
Telephone Calls – Telephone home call "care" can cost approximately 40 per month, for safety checks, medication management, etc.
Home Care – Depending if you hire an agency, approximate costs $20 per hour, $7,500 for 24/7 care; or a private individual approximately $10 per hour, although you have to pay taxes, insurance on top.
Respite Care – Otherwise, known as Hospice, can be paid by Medicare.
Visiting Nurses – If treatment prescribed by physician, may be covered by Medicare or Medicaid. Private care nurses will cost approximately $25-$60 per hour.
Continuing Care Retirement Communities (CCRC) – Most CCRC facilities you “buy” your way in at $500,000; in addition monthly care/maintenance fee of $3,000 per month. The fees vary according to whether your “deposit” is refundable or non-refundable; cottage, studio; any amenities chosen; the type of service contract chosen; and current health status.
Assisted Living Facilities – The cost ranges from $2,500, for independent living to $7000 per month, depending on your level of care.
Nursing Home – The average cost for a private room in a nursing home is $7,500 per month.
These rates or prices vary from county to county, state to state. Therefore, these are just estimates, based for Frederick County, Maryland.Tags: aging parents, assisted living, CCRC, hospice, medicaid, Medicare, nursing home, respite care, senior care costs