By Rick Banas of Gardant Management Solutions
The results of two recent research projects about home health, assisted living and nursing homes recently caught my attention.
One of the projects was a poll conducted by Key Private Bank. The results were highlighted in a blog by Lois Bowers that was posted on the McKnight’s Senior Living website.
The first choice among older adults was not surprising. They wanted to stay at home and live independently. And, by means no surprise, moving to a nursing home was not an appealing option.
What I found interesting was that poll showed older adults indicating an overwhelming preference for assisted living versus home care. Assisted living was the second choice for more than nine out of 10 respondents whereas just over one out of 10 preferred being cared for in their home by family or a professional caregiver.
Click here to read Lois’ Blog
The second research project was conducted by the AARP Public Policy Institute. The results were published in the “2018 Across the States: Profiles of Long-Term Services and Supports” report.
Data contained in the report indicates that assisted living can be much less expensive than nursing home care. Nationally, the average cost of assisted living is nearly 55% less than the cost of a private room and just over half the cost of shared accommodations in a nursing home.
The report also suggests that assisted living may be a more cost-effective option than staying at home with assistance provided by a home health aide. Nationally, the average annual cost for a home health aide assuming 30 hours a week for services (less than 4.5 hours a day) is $33,540 compared to the average annual cost for assisted living of $45,000.
The $33,540 figure only takes into account the cost of the home health aide; none of all of the expenses of staying at home are factored in the equation. These include either monthly rent payments or the costs associated with home ownership such as mortgage payments, maintenance and repairs, home owners insurance and property taxes; utilities; and meals.
In the assisted living communities Gardant manages, the monthly fee includes rent, three meals a day plus snacks, maintenance and repairs, housekeeping and laundry services, utilities – except for telephone, cable and Internet – and an emergency alert system. Staff is on-duty 24 hours a day, seven days a week.
Residents also benefit from regularly scheduled social, recreational, educational and wellness activities and special events.
A copy of the AARP Public Policy Institute Report is available here.