Rising Healthcare Costs, Medicare Reimbursement Cuts Fuel Demand for Affordable In-Home Care
~ National Home Care Leader Home Helpers Educates Families on Options ~
Cincinnati, OH — The need for quality in-home care is at an all-time high as rising healthcare costs and Medicare reimbursement cuts force Americans to seek affordable alternatives to assisted living and skilled nursing facilities.
Research shows at least 70 percent of people older than 65 will need long-term care services at some point in their lifetime. And while most people think long-term care impacts only seniors, the fact is 40 percent are ages 18 to 64, according to the 2013 Genworth Cost of Care Survey.
According to the survey, the average annual rate for a private room at a nursing home is $84,000, while the average assisted living facility exceeds $41,000. Both are up more than four percent in the past five years, and experts expect this sharp increase to continue.
These costs are proving to be cost-prohibitive for many families. According to a 2012 report by The Schwartz Center for Economic Policy, 75 percent of workers between the ages of 50 and 64 had less than $30,000 in their retirement accounts in 2011. A 2011 report by the Wall Street Journal found the typical American household nearing retirement with a 401(k) savings account had less than one quarter of what was required to maintain their current standard of living.
With this in mind, Home Helpers, one of the nation’s leading home care providers, is educating families that in-home care can be an affordable alternative that enables people to receive personalized care in the comfort of home.
“While it’s likely we will all need some sort of long-term care in our lifetime, there are affordable options out there,” said Emma Dickison, president of Home Helpers & Direct Link. “Many seniors are still very active and independent and simply don’t require 24 hour, 7 day a week care. It’s important the family has the flexibility to develop a care plan that fits their unique needs and budget.”
Home care services average just under $20 an hour . a fee that has remained largely unchanged over the past five years. Additionally, many agencies including Home Helpers, now offer a complete continuum of care, ranging from companion care to medical services, medication management and vital signs monitoring.
For more information or to locate a Home Helpers home care agency in your area, visit www.HomeHelpers.CC or call (800) 216-4196.
ABOUT HOME HELPERS
Founded in 1997, Cincinnati-based Home Helpers is one of the nation’s leading home care franchises helping people live healthier, more independent lives in the comfort of home.
Home Helpers is affiliated with Direct Link, a national provider of 24/7 emergency response systems and vital signs monitoring units.
Editor’s Notes:
Dickison Available as Expert on Long-Term Care Issues and In-Home Care Options
