Financial Considerations
One of the first questions families often ask is, How will care be paid for? Assisted living facilities typically require out-of-pocket payment, particularly for the “room-and-board” portion of the senior’s needs. As covering these costs can be challenging, many future residents sell the seniors’ homes to fund the cost, which can range from $5,000 to $7,000 per month, depending on the services and level of care required.
In contrast, at-home care offers more flexibility in the financial planning aspect. As we outline here, the payment options are typically more than most people know are available to them. Options like private pay, spend-downs, government assistance, or utilizing elder law strategies that can be structured to eventually transition families to state-funded programs, such as Medicaid, are all unavailable in the best at-home assisted living providers.
For those choosing assisted living facilities, if a resident’s finances run out, the family may face the difficult decision of moving their loved one into a nursing home or relocating mom or dad to live with the care-taking family, as there are no state-funded programs to support long-term assisted living expenses beyond nursing homes.
Comfort and Familiarity
A significant advantage of at-home care is the ability for seniors to remain in their familiar surroundings and comforting environment. Most older adults express a strong preference to age in place, surrounded by their belongings and memories. This setting provides a sense of security and comfort that is difficult to replicate in a community setting.
With at-home care, the focus is on one-on-one attention, improving both physical well-being and emotional health. Caregivers assist with household tasks like cleaning, laundry, meal preparation, and ensuring the home remains a safe and comfortable space. Socialization opportunities with the in-home caregivers, planned outings to places like the doctor, hair stylist, or even leisure destinations can all provide companionship and additional perks that help maintain a senior’s quality of life.
Socialization and Activities
Assisted living facilities excel in providing social opportunities for seniors in peer-group settings. Residents dine in shared spaces; participate in group activities, such as art classes or movie nights; and form friendships with others in situations and life stations similar to their own. For seniors who thrive in a community setting, this can be a major benefit.
However, the socialization aspect of assisted living comes with limitations. As seniors’ needs increase, facilities may charge additional fees for services such as medication management or assistance with daily hygiene. Beyond a certain point, families often need to hire supplemental caregivers, significantly increasing the overall cost beyond the base expenses of housing, meals and socialization.
Level of Care
The level of care provided is another key consideration. While assisted living offers many services to many people at once, their ability to meet higher care needs on an individualized basis can be limited. For instance, when a resident requires one-on-one supervision due to frequent falls or advanced medical conditions, the facility may recommend hiring an external home care provider, resulting in supplemental costs.
Conversely, at-home care is highly customizable. Families can choose the level of care based on the senior’s evolving needs, ensuring continuous and tailored support as their loved one continues to age in place and additional or different services are needed.
Weighing the Decision
Ultimately, the choice between at-home care and assisted living depends on the senior’s preferences and the family’s resources. If a senior prioritizes staying in their home and receiving personalized attention, at-home care is likely the better option. On the other hand, for those who prefer a more active social environment and worry-free living without household maintenance, assisted living facilities can be a good fit.
Families are encouraged to consider the senior’s desires, financial situation, and anticipated care needs. At the end of the day, whatever makes mom or dad happy in their later years should guide the decision, with financial considerations and situations in close tandem.
