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This Senior Care Cost Comparison Will Blow Your Mind

Updated 8/18/15 4:58pm | The old cliché holds true— Alert1 says “there’s no place like home”. As we age, our roots tend to settle in the houses that we inhabit. For elder seniors looking to lead the rest of their lives in the homes and communities, you’ll have heard of the term “aging in place”. Aging in place is a care option many seniors should consider due to how low-cost it is. If you're at risk for potential falls, our fall detection medical alert will keep you on your feet. You can start aging in place, worry and risk-free, with a senior medical alert system from Alert1! 

Many modern seniors are choosing to stay in the homes and communities where they live. The creature comforts of home and the familiarity of it all became part of your identity. You can never replace the feeling of your home. Granted, when making the decision to age in place, seniors need to research medical alert companies. With the right technology, you can have certain safeguards in place to ensure that you enjoy your golden years more fully. Our Command Center will provide you and your loved ones reassurance that you will be well looked after in the event of bumps and bends in the road on your life’s journey.

 

Grandmother teach granddaughter piano.alert1 medical alert systems

What Are the Costs of Moving to a Nursing Home?

We have evaluated long-term care within Nursing Homes and assessed how it compares to aging in place. Health Affairs discovered that nursing home residents paid $5,243 per month on average (Health Affairs, 2010). For retirees and others dependents on Social Security, this fixed monthly expense can threaten low-income seniors and economic security if they have to pay out of pocket. Elder seniors that own their homes have a variety of other options that can provide the same amount of care while letting them receive care in their homes.

How Do Nursing Homes Compare to Aging in Place?

If you live in a senior nursing home, the amount of money you pay will be divided between maintenance and necessities for the entire community, as opposed to paying for just your individual care needs.  One-fifth of nursing home bills are paid primarily out of pocket, according to a Market Survey of Long-Term Care Costs (Metlife, 2012). The costs of the entire community at large can be a hefty sum and if your budget is tight, a nursing home might not be the place for you.

Aging in place gives you more financial freedom when compared to alternatives. You won’t be moving to a new location or need to store or relocate any of your possessions. You get to stay in the home you love. With all those cost savings seniors can travel to other parts of the world, take a nice long vacation, or even spoil your well-behaved grandchildren!

 

Two pirates. alert1 medical alert systems

What Are the Costs of Home Care?

Home care is available for seniors that decide it’s in their best interest to remain in their homes but need additional care. According to a Survey conducted by MetLife, it’s approximately $2,100 for a month’s worth of home care (MetLife, 2012). That’s an annual estimated savings of over $37,400 as compared to living in a nursing home!

How Does Home Care Work With Aging in Place?

What if you want to age in place but need a helping hand? For assistance with the activities of daily living while staying in your home, you may consider home care. You may consider this route if you need a health aide to assist with running tests and administering medicine or a homemaker that will take care of household responsibilities. Home care is less expensive than nursing homes, but it’s still a significant monthly expense.

In the interest of maintaining your independence, imagine that your Home Care aide shows up to help you every other day to assist you with household activities and care. Who’s available to help you when the aide leaves your home? Because home care is limited to a brief period of time when you’ll receive attention, you’ll want to keep a medical alert system at your side for a consistent lifeline for help and support. Whenever you need immediate assistance you can trigger your senior help button to receive the help you need in the event of a crisis. Alert1 will make sure you can get help. We’ll ensure you’re never alone as you age in place.

How Can Aging In Place Save You Money?

Having a medical alert system for seniors can provide immense cost savings as indicated in the graph below. 

 

Aging in place save you money. alert1 medical alert systems

 

You can see that that there is a significant difference in cost between the different care options. Aging in place saves you money. If you need more care, you can use Alert1’s medical alert system in combination with home care services and still have an annual savings of almost 60%. Aging in place with a medical alert is an affordable solution that maximizes your dollar.

How Much Does a Medical Alert System Cost?

Medical alert systems for seniors ensure that you’re prepared to live independently and sustainably as you advance into your next stage of life. With plans starting at $25.95 a month, as little as 87 cents per day, you’ll get access to our Command Center around the clock. Our trained operators will help you in the event of an emergency or unexpected incident. With our medical alert system, you won’t have to transition to a new community or unfamiliar environment. You can stay in your home close to your friends and family.

 

happy senior. alert1 medical alert systems

A Decision That Hits Close to Home

When preparing yourself for the next stages in life, you must consider the cost of maintaining your wellbeing. You can easily thrive at home, the environment where you’re most comfortable, without breaking the bank. Aging in place is an affordable way to live independently.

All the effort in selecting a long-term care provider, with the constant rising costs of long-term care, makes the process far too difficult and expensive. Additionally, you have to consider the emotional cost of leaving your community. Seniors who move from their homes often feel disconnected and separated from their life-long relationships. According to an AARP survey, it’s been found that 41% of seniors that choose to stay in their homes do so in order to maintain their social connections with friends and family. It’s important to keep your friends and family close. Aging in place helps you stay connected to those you love.

Alert 1 can increase the quality of life in your golden years and ensure that you’re not alone in the process. View our selection of senior medical alerts system– you are sure to find a system that is right for you. We’ll help you age in place securely and independently!

Comments

12:55 PM on December 1, 2014 Jenna Richards
I did not know that aging in place could be compared to nursing homes or in-home care. Since medical alerts do not provide the in-person attention that some people need, perhaps the best situation is a combination of medical alert service and in-home care. That way, you are protected 24/7 and also have access to help with daily life.
1:55 PM on December 1, 2014 raj singh
Really helpful article.As moving to nursing home is indeed more expensive and you never have the same enjoyment as staying at your own place.
1:56 PM on December 1, 2014 Agnes Chu
Thanks for the great article
2:43 PM on December 1, 2014 Carla Bush
Wow, medical alerts are so cheap that you can barely see its bar on that graph!
6:35 PM on December 1, 2014 Jennifer Martin
Great article and very informative about comparing prices between sending a relative to a nursing home or having care services at their own home. The Personal Emergency Response System is a great choice on saving money but still being able to receive help at the press of a button.
2:31 PM on December 2, 2014 Emma L
Nursing home is extremely expensive, and a lot of time, the seniors are not as well care for there either. The best place for them is at home, where they're much happier and the cost of in home service is much more reasonable than nursing home.
2:49 PM on December 2, 2014 K L
This is eye opening - we all should make preparations for the future, so we are better protected and taken care of when we need it.
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