What You Need to Know About In-Home Health Care

By WealthTrust Advisors on October 25, 2023

When your parents have spent many years investing energy and financial resources into creating a home where they and their loved ones feel comfortable, it’s understandable that they may want to stay in that home for as long as they can. According to a recent survey by the AARP, 77% of people over the age of 50 want to remain in their current home as they get older,[i] and reports have shown nearly 90 percent of people over age 65 want to stay in their home for as long as possible.[ii]

With this increasing focus on “aging in place,” it’s important to understand the realities of helping senior parents receive the health care they need at home. Here are some important questions to consider:

1. What are the different types of home health care?

Basically, home health care is divided into medical and non-medical care. Medical care is prescribed and provided by a physician, registered nurse or other professional and is usually intermittent, such as treating injuries or providing physical or other forms of therapy. Non-medical care includes assistance with bathing, dressing, cooking, housekeeping, transportation and other daily activities — home aides for this type of care can also communicate symptoms or changes they observe to medical caregivers, allowing for earlier treatment.

2. How do I know how much care my parent needs?

In-home aides can be scheduled for as little as a few hours a week to shifts providing 24-hour attention or even live-in help. Your parents’ needs will change as they age, but some factors to consider are whether they can safely cook and clean up their own meals, do their own laundry, get to and from social activities, and operate the phone in an emergency. The amount of care needed can increase with chronic medical conditions, memory loss or a drop-off in hygiene.  

3. What are the benefits of home health care?

Remaining in the comfort and familiarity of their home can improve seniors’ quality of life, which in turn improves their physical and mental health. It also reduces their chance of contracting illnesses found in senior living facilities and hospitals. In-home care can reduce not only hospital admissions but also feelings of loneliness or isolation that can affect seniors’ health. Many benefit from developing a deep and meaningful bond with their caregivers.

4. What home modifications need to be made?

As your parent ages, their home may need to be adapted to meet their changing needs, including:

• Creating step-free entrances and widening doorways
• Having their bedroom and bathroom on the first floor, or installing an elevator
• Updating the bathroom to include a no-step shower, grab bars and nonslip surfaces
• Updating flooring throughout the home to prevent slips, trips, or trouble moving walkers or wheelchairs
• Installing smart-home devices such as voice-activated controls, a doorbell camera and an emergency response system

5. How much will it cost?

You may understandably want to spare no expense in providing home assistance for your aging parents, but costs can have a significant impact even for the wealthy. A 2021 survey by Genworth found the national median monthly cost for a home health aide was $4,680 a month for 40 hours a week,[iii] compared to around $9,000 a month for a private room in a nursing home facility, but those numbers can skyrocket for 24/7 service or specialized memory care for seniors with Alzheimer’s disease.[iv] Additional costs for groceries, medical equipment, home renovations, increased utility bills and more can all add up.

Medicare covers intermittent in-home health care only for those who are homebound, while Medicare Advantage offers plans covering home health aides with higher premiums and deductibles. Long-term care insurance policies can also cover home health care once requirements are met.  

Still, many families end up paying for in-home care out of pocket, reducing cash savings, investment balances and even their own retirement savings. One often unforeseen cost comes in the form of earnings missed while taking the time to manage the staff that care for your parents.

6. How do I find the right support?

Many people use a home health care agency or concierge health service to match caregivers with the right skills and compatible personalities to assist your parents. A good place to start is by talking to your primary physician for recommendations, and seek out the advice of friends who may have gone through the process with their own parents.

Guiding one’s parents through the aging process can be among life’s most challenging experiences. Plans must continually evolve for changing needs, and you can’t overlook the toll it may take on you emotionally or the planning that may be required financially. If you need help, please reach out to us, we’re here to help prepare you for every part of life’s journey.

[i] Davis, Michelle, “Despite Pandemic, Percentage of Older Adults Who Want to Age in Place Stays Steady,” AARP, November 18, 2021, https://www.aarp.org/home-family/your-home/info-2021/home-and-community-preferences-survey.html.

[ii] AARP Public Policy Institute and National Conference of State Legislatures, “Aging in Place: A State Survey of Livability Policies and Practices,” December 2011, https://assets.aarp.org/rgcenter/ppi/liv-com/ib190.pdf.

[iii] Monthly Median Costs: National (2021), https://www.genworth.com/aging-and-you/finances/cost-of-care.html. Accessed July 6, 2023.

[iv] Rosenblatt, Carolyn, “The True Cost Of Aging At Home For Affluent Elders,” Forbes, August 2, 2022,  https://www.forbes.com/sites/carolynrosenblatt/2023/03/15/the-true-cost-of-aging-at-home-for-affluent-elders. Accessed June 19, 2023.