Assisted Living vs. in-Home Care: A Cost Comparison

Did you know that almost all seniors have health insurance? 99% of seniors are insured, most of them being covered by Medicare.

While Medicare can lessen the financial burden in some cases, can it help those in need of assisted living and in-home care? Assisted living isn't covered by Medicare, but in-home care might be.

What does Medicare cover when it comes to senior living options? What are the cost differences between assisted living vs. in-home care? Keep reading to find out more in this elder care comparison guide.

Assisted Living vs. In-Home Care

To understand the costs of assisted living vs. in-home care, you need to know the differences between the two.

Assisted living communities are for older adults who require help with the following daily tasks:

• Dressing
• Eating
• Bathing

Depending on the community, other services may be provided such as social activities and housing. A housing community won't have an on-site doctor, but they can help coordinate medical services to meet the needs of a resident.

In-home care also helps seniors with everyday activities, but they stay in the comfort of their homes. Home health care aides may be certified nurses, but this isn't always the case.

These aides can help with injections, IVs, and wound care. They also provide companionship to seniors.

Cost Breakdown

Assisted living costs vary in the community. The national average is almost $5,000 per month. Included in these fees are rent, meals, assistance, and more.

State fees and apartment size are factors used to calculate the costs of assisted living.

In-home care expenses are about $30 an hour across the nation. If seniors require full-time at-home care, they will pay almost $6,000 a month for these services.

In-home care prices are calculated based on supply and demand. Location, aide salary, and the home care agency can affect the price. Home health care might be covered by Medicare or your health insurance to mitigate the out-of-pocket costs.

In-home care costs don't include the cost of living. You'll need to budget for rent, groceries, utilities, and other bills in addition to the cost of in-home care.

When choosing care, finances will likely play a role. If you are choosing based on price alone, assisted living is the more affordable elder care option.

How to Afford Assisted Living or In-Home Care

If you are weary of your out-of-pocket costs for assisted living or in-home care, there are other options. You could be eligible for options outside of your insurance.

For example, you can seek out public programs for assisted living. Military-connected seniors might be able to use the following as methods of payment for assisted living:

• Pensions
• Military retirement funds
• Disability compensation

Discover all of your options by doing research. Keep in mind that you may be able to get some of your costs covered, but not all with these programs.

To pay for in-home care, consider the following options:

• Government funds
• Insurance programs
• Veterans benefits

PACE, otherwise known as the Program of All-Inclusive Care for the Elderly, is known for helping seniors pay for certain services.

Assisted Living: What's Included in the Cost?

Assisted living is beneficial for older adults who want to feel and be as independent as they can be. Still, they are aided by professionals who can work with them on daily tasks.

There is a lot that seniors can expect from assisted living, such as personalized assistance, amenities, medical support, community engagement, and an apartment.

Personalized Assistance

Whether you require short or long-term care, assisted living could be right for you. Assisted living communities don't have to be permanent if you don't want them to be.

You'll pay a monthly care service fee that will depend on the level of care you want and need. If you require regular assistance with daily activities, your fee will be higher.

Amenities

A great community has many amenities to enhance the quality of life. Amenities might be important to your choice in a community. Be sure to research the different care options cost to ensure the community has what you need.

At Discovery Village Trinity, we offer the following amenities:

• Legends Bar
• Billiards
• Bistro & Café
• Clubhouse & Pool
• Craft Room
• Fitness Center and Classes
• Library
• Movie Theater

You can check out the full list of amenities here.

Medical Support

24/7 associate support and 24/7 licensed nursing support are included in the price. A professional team can help with medication management and connect you with healthcare professionals in the area.

Some communities require an additional monthly fee for medical management. Physical therapy and occupational therapy may be an extra charge as well.

Community Engagement

One of the best parts of living in an assisted living community is the opportunity for engagement. Residents have the chance to connect with other seniors during scheduled activities and general downtime.

With so many amenities available, you are likely to connect with individuals while hanging out by the pool or getting your hair done.

Discovery Village Trinity is a pet-friendly community. You can find companionship with a furry friend as well as a like-minded human.

Apartment

The cost of living is included in the fees you pay to live in a community. You'll get your apartment or you can room with someone else to save money.

There is enough space to enjoy comfortable living. Plus, you don't have to worry about completing maintenance.

The apartments at Discovery Village Trinity include these perks:

• Stainless Steel Appliances
• Faux Wood Floors
• Gourmet Chef's Kitchen
• Central AC
• Stackable Washer and Dryer
• Balcony
• Access Entry System

Most importantly, you'll have a 24-hour call system if you ever have a maintenance emergency.

Connect With Discovery Village Trinity

Discovery Village Trinity offers exceptional senior living options, including assisted living. When it comes to assisted living vs. in-home care, assisted living is the more affordable option.

Located in Florida's Tampa Bay area, we offer carefree living to those who need it. This retreat is welcoming, intimate, and affordable!

Your costs will go to a variety of services, amenities, and an apartment you can call home. We are a top choice in the area for a reason. Call us today to schedule a tour or to learn more about our community.