The Cost of Home Care and 5 Ways to Pay

Home healthcare services may enhance your quality of life as you age and allow you to age in your home, but if you don’t plan ahead for those costs, you may be surprised when you find you need help. 

Recent research by homecare providers shows:

  • While some home care agencies offer discounted rates for monthly contracts, more than 90% of home care agencies charge by the hour.
  • The median cost of home care in the U.S. was $24 an hour in 2020. This means half of home care agencies charged less than $24 an hour, while half charged more.
  • The cost of homecare costs may vary based on your location, state licensing requirements, and the level of care needed.
  • Based on a typical 44 hours of care a week, the monthly median cost of in-home, full-time care for seniors is between $4,000 and $4,500 per month.

Paying for home care only becomes an issue when you find yourself in need of assistance in your home. The need for homecare may be due to recovery from a surgical procedure, ailment, illness, or end of life care. 

Let’s take a look at what you can expect.

How much does it cost?

In 2020, in the state of Florida, the hourly rate for home care differed, depending on where you lived. The most affordable home care was found in Miami, Ocala, and the Deltona area. Average hourly rates for caregivers also differed based on the services required. You may call First Care Home Services or any other homecare agency to inquire about rates.

Now that you have some idea of how much home care may cost, let’s talk about how to pay for it.

How to Pay for It

Medicaid Programs & Waivers 

  • Medicaid offers services in the home and in the “community” with the design of reducing nursing home placements. Back in 2014, Florida implemented the Statewide Managed Medicaid Care Long Term Care program, which replaces all of the state’s HCBS (Home and Community Based Services) Medicaid Waivers. 
  • Benefits often include personal care, delivered meals, respite care, home modifications, and others. Sometimes this means program participants may hire, train, and manage the caregiver of their choice, including relatives.

State Assistance Programs 

  • In Florida, the Optional State Supplement (OSS) is a financial grant for low-income individuals who live in residential care, be that an adult family care home or an assisted living residence. This payment goes toward the fees of room and board.
  • Project R.E.L.I.E.F., or Respite for Elders Living in Everyday Families, is a free respite care program. Respite care is provided in-home. 
  • Community Care for the Elderly (CCE) is designed for individuals at risk for nursing home placement, but not qualified for Medicaid. A variety of support is available, including adult day care, personal care, disposable medical supplies, and legal assistance
  • Home Care for the Elderly (HCE) program is unique in that it is designed to support caregivers, rather than care recipients. It provides direct financial assistance that helps the caregiver provide basic support for the care recipient, as well as medical equipment that is deemed necessary.

Alzheimer’s Disease Initiative

  • The Alzheimer’s Disease Initiative (ADI) provides research and family-focused services for seniors in Florida living with various forms of dementia. 
  • The program pays for short-term respite care in the home and at local facilities for seniors with dementia. 

Veteran Benefits 

  • Veterans Aid & Attendance (A&A) benefits may offset care costs for wartime veterans or their surviving spouses with limited income. A&A was developed for veterans over the age of 65 who require assistance with activities of daily living.
  • Basic Pension/Improved Income – for healthy veterans over the age of 65 with low incomes
  • Housebound – for veterans with a disability rating of 100% that prevents them from leaving their home, but does not have to be related to their military service.

Private Pay

  • Private pay costs can range from approximately $30,000 per year to $150,000 per year. For many families, that cost may be out of reach.

Long-Term Care Insurance

  • Long-Term Care Insurance has become increasingly difficult to obtain and the price makes it unaffordable for many Floridians. If you can afford a LTC policy, talk with your financial adviser and insurance agent to see if you qualify.

Chances are, if you need home healthcare in the Miami or Broward County areas, you’ve heard of us. First Care Home Services provides highly trained and skilled staff to help you or a loved one struggling with activities of daily living, medication management, depression/anxiety, or are recovering from illness or injury. 

Before you begin any home health care services, make sure to talk to your doctor about your needs, your medication schedule, and any necessary instructions for your home care provider. 

You also may ask your doctor to prescribe home health care to instruct you and your loved ones on appropriately managing medications and how to best monitor your condition(s) to avoid complications.

First Care nursing care providers are there to answer your questions, address your concerns, and, most importantly, ensure your loved one has the tools they need to live safely and comfortably at home.

Contact Us here or give us a call if you need our help in the Miami Dade or Broward areas. We strive to return calls within 30 minutes so you can get started with the services you need. Call today: 305-945-9025.

*ACHC License #
Miami Dade County: 29992562 (Medicare & Medicaid Certified)
Broward County: 299994743

Looking for a Caregiver?

First Care Home Services provides skilled nursing, home healthcare, and 24/7 nursing services throughout Miami Dade and Broward County. Reach out today! We strive to return calls within 30 minutes so you can get started with the services you need.

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