When considering care options for yourself or an aging loved one, in-home care often provides the comfort and independence many families prefer. However, understanding what’s included in the cost of home care and how to finance it can feel overwhelming. This blog from Emory Mills breaks down the essentials of at-home care costs and planning.
Services Typically Included in the Costs of In-Home Care
The costs of at-home care generally include the following services:
- Personal care assistance with daily tasks like bathing, dressing, and grooming
- Meal preparation and grocery shopping
- Medication reminders and management
- Light housekeeping and laundry
- Companionship and social engagement
- Transportation to errands and appointments
Most home care agencies charge hourly rates and may vary due to location, specialization, and the number of services needed.
How to Pay for Home Care
There are several payment options for home care, however it’s important to discuss the available financial options with the agency you’re considering.
Common financial options for in-home care include:
- Long-term care insurance
- Veterans benefits through the VA Aid & Attendance program
- Private pay using savings, retirement funds, or family contributions
- Reverse mortgages or home equity lines of credit to leverage home value
- Life insurance conversions through life settlements
- Medicaid at agencies in certain states
Planning for Future Home Care Needs
Consider the following steps when planning for future home care needs for yourself or a loved one:
#1 Assess current and anticipated needs
Evaluate both current and future care requirements, including physical and cognitive needs.
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#2 Research home care agency options near you
Check references and reviews and ask about staff training and supervision policies.
#3 Develop a financial plan
Explore all available funding sources to project costs based on current rates with an annual increase for inflation. You may want to consult a financial advisor or elder law attorney for professional advisement.
#4 Create a flexible care schedule
Begin with essential services by combining professional home care with family support, then adjust as needed over time.
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#5 Establish clear communication
Create a system to maintain regular updates and document care plans and preferences between caregivers, family members, and other healthcare providers.
Remember that the least expensive home care agency may not always provide the best value. Quality care services are key to preventing hospitalizations and ensuring a high quality of life for your aging loved one.
Thrive with Emory Care at Home
Emory Care at Home offers a customized approach to in-home care and engagement for Knoxville-area seniors who need a little support to remain independent at home. Our dedicated and caring team supports each individual with personalized care and the specialized and research-based I’m Still Here ® approach to meaningful and purposeful living, also known as The Hearthstone Difference.
Download our at-home care guide to learn more about our unique approach to home care for older adults.
