Seven out of 10 people will require some form of long-term care in their lifetime, so it’s important to have an understanding of the different types of care along with their respective costs and ways to pay these expenses. There are five main types of senior care, which range from at-home services to moving to an assisted living facility or nursing home, depending on the needs of the individual. The most common types of senior care services offered include assistance with activities of daily living, meal preparation, and housekeeping available for all types of care – while individuals with more complex needs may require 24-hour emergency care which will require stay in an assisted living facility or nursing home.
The Costs for Senior Care
Costs for senior care also vary significantly depending on the level of care required. Full-time adult daycare costs about $20,000 a year while residing in an assisted living facility is more than double that with an average cost of $48,000 a year. These costs are significant, so it’s important to plan in advance to make sure you have a way to afford these expenses.
Check out Harbor Life’s infographic Guide to Senior Care below to learn more about the different types of senior care, including their costs and ways to pay for these expenses.