Comparing the Cost of Assisted Living with Care at Home

Most people assume that the cost of assisted living would be more than the cost of care at home. In fact, that’s often one of the most common reasons why a person wouldn’t consider looking into assisted living further. But the truth is that there are times when the cost of assisted living can be cheaper than care at home. It depends on you or your loved one’s individual circumstances, so it’s always best to consider the cost of each fully. Here’s how to compare the cost of assisted living - as well as the value - with care at home. 

Comparing the Cost of Assisted Living with Care at Home 

When comparing the costs, it’s important to understand that there are different types of care at home so you’ll have to determine which fits your needs best. In some cases, it may be a combination of types of care at home that works for your situation. On the other hand, with assisted living, you typically have an all-in-one monthly cost. Here are the levels of care as well as their average monthly cost according to the most recent Genworth Cost of Care Survey. 

Care at Home 

• Homemaker Services - Help with household tasks such as cooking, cleaning, and errands that cannot be managed independently. The average monthly cost is $4,957, assuming 44 hours per week. 
• Home Health Aide Services - Help with personal care, but not medical care. The average monthly cost is $5,148, assuming 44 hours per week. 
• Adult Day Care – Typically includes meals and snacks, health monitoring, medication assistance, and fitness, plus enrichment programs and social activities during normal business hours, five days a week. The average monthly cost is $1,690. 

Assisted Living 

• Assisted Living – Offers residents support with daily activities such as bathing, dressing, and medication assistance as needed in addition to a range of services and amenities that not only make life easier and more convenient, but also ensure they are active, social, and engaged each day. The average monthly cost for a private, one-bedroom is $4,500. 

Download our Just the Facts Guide to Assisted Living guide today to learn more! 

The Value of Assisted Living Versus Care at Home  

We think a side-by-side comparison is the best way to show the value that comes with the cost of assisted living versus care at home. To do so accurately, you must make sure you’re comparing more than just your mortgage or rent to the average monthly cost of assisted living. You need to compare the total cost of living at home including food, utilities, home maintenance, property taxes, insurance, entertainment, and healthcare because those costs are already included in the monthly cost of assisted living. This worksheet can help. 

Regardless of whether your comparison results in the cost of assisted living being cheaper or not, its added value is hard to replicate at home, especially when living alone. Assisted living can enhance the quality of life for you or your loved one by removing the burden of managing chores, maintaining the house, and the worry over unexpected expenses from your shoulders. It also makes it much easier to stay connected and engaged with a full calendar of activities, outings, events, clubs, and classes – all planned by us and right outside your door. Lastly, you’ll have invaluable peace of mind that support is always there for you should you need it. 

Download our Just the Facts Guide to Assisted Living guide today to learn more!