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What To Know About In-Home Dementia Care Costs

When you hire a home health care worker or a home care worker to come to your home, you provide in-home dementia care. Wound care and physical therapy are examples of clinical home health care services. Non-clinical services such as bathing, dressing, and transportation are provided by home care.

While hourly rates vary by state, the average cost of dementia care can cost between $16 and $28 per hour, and home care services can cost between $16 and $30 per hour. That works out to about $1,012 per week for 44 hours of care. However, in-home dementia care costs have changed since the pandemic. 

Read on to know more about the expenses of planning in-home dementia care for your loved ones.

Long-Term In-Home Dementia Care

The cost of care varies greatly depending on the provider. The national average cost for basic assisted living services is $55,620 per year*. A private room in a nursing home costs an average of $111,657 per year*, and a semi-private room in a nursing home costs an average of $97,747 per year*.

The majority of families pay for long-term care out of their own pockets. Long-term care insurance (check the policy as certain requirements may need to be met before receiving benefits), Veterans benefits, and Medicaid are examples of benefits that may cover nursing care. Medicare does not pay for long-term care in a caring community. After a hospital stay, Medicare only covers short-term skilled care.

Financial Help With Dementia Care Costs To Check Out

Financial Help With Dementia Care Costs

In-home dementia care, as well as dementia care in nursing homes or dementia care facilities, can be costly and costly in the long run. These costs are frequently variable and depend on your specific needs and journey, so you may have more or fewer costs to consider. Below are a few common ways to pay for dementia care.

Medicare

Medicare will help cover most people's dementia care costs in some way. Medicare is a federal program that assists eligible older adults and others with medical expenses. In general, if a person is eligible for Social Security, they will also be eligible for Medicare. Everyone should apply for Medicare three months before turning 65.

For people with dementia, Medicare typically covers inpatient hospital care and some doctor's fees. Those who purchase Medicare Part D may also be eligible for prescription drug assistance. Furthermore, Medicare covers up to 100 days of skilled nursing home care and hospice care. However, the program does not cover the costs of long-term memory care.

Medicaid

Medicaid is a government-funded program administered by your state. Medicaid assists people with low incomes or assets in covering healthcare costs. A person with dementia who has spent nearly all of their resources on Alzheimer's care may be eligible for Medicaid assistance.

While fewer people qualify for Medicaid, the program typically provides a higher level of coverage; use it if you can. 

Insurance For Long-Term Care

While less commonly used than many other financial options, long-term care insurance can provide financial assistance for elderly care to people in a variety of personal situations. A long-term care policy can provide people with more options for assisted living and memory care than Medicare, Medicaid, or Veterans Affairs, all of which are government programs.

Long-term care insurance can also help pay for dementia care regardless of the insured's financial situation. The main advantage of long-term care insurance is the additional options it provides beyond Medicaid-approved options.

The expenses of long-term memory disease come with in-home dementia care costs to think about. Many of the best practices in dementia care are another factor that requires proper planning and keen attention. Learn more at Senior Strong today!

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