Home care is the most widely preferred long-term care option for seniors with 90% of seniors preferring to age in place. Home care is generally more affordable than other long-term care services, but its cost can still be significant for full-time care and can cause financial stress for families. A survey has found that many Americans are financially unprepared for long-term care costs—with only 35% of adults aged 40 years and older having set aside money to pay for long-term care. However, there are many ways to make Caregiving more affordable, such as by becoming a Family Caregiver, hiring Caregivers directly, or by using a service like eCaregivers.
Become a Family Caregiver
You can save thousands of dollars each year on home care by being a family caregiver. Millions of Americans provide unpaid care for their loved one. Some people may not even realize that they are caregivers (for more information check out How to Know If You Are a Caregiver).
Hiring Private Caregivers Directly
When searching for a caregiver, many families go through home care agencies. They are designated as the “employer” and take care of any payroll taxes, insurance, screening, interviewing, and training. The convenience of using a home care agency, however, means added costs for their overhead.
Depending on where you live, the average hourly rate for hiring a caregiver through an agency is $20. You may find higher costs in rural areas because of lower demand and longer travel distances. Heavily populated areas like the northeast are costly as well. If your loved one doesn’t need immediate care—finding a private caregiver can be an affordable alternative.
Using eCaregivers
Hiring a caregiver directly is a process that requires you to be more involved and takes up more of your time. eCaregivers is an online community that connects you with local, pre-screened caregivers. You can search for caregivers who live and work in your neighborhood using your zip code. Unlike your local classifieds sections, eCaregivers give you many options for local, private caregivers whose online profiles outline their experiences, qualifications, and schedule availability, making it easier to find the caregiver who best meets your needs.
Caregivers who join eCaregivers list a range of their rates for caregiver services. Generally rates start at $10-$14/hour, compared to the $20-$24/hour most agencies charge, helping you save thousands of dollars in a year, while still ensuring quality home care for your loved one. In addition, all of the caregivers on eCaregivers have passed a criminal background check so you have a peace of mind that you’re hiring a vetted caregiver for your loved one.
There’s no “one size fits all” care plan. Make sure you weigh all of your options to ensure that you make the best choice for you, your family, and your loved one.
