Annual Care Costs in 2011

written by Kevin K. Johnson, CSA

Recently I hosted discussion sessions with employees at client companies. Two topics have been of particular interest with employees. One topic is “the cost of caregiving services” for both an elder loved-one.  A second topic has been “how to plan for the required care” for an elder loved-one and for themselves when necessary. 

I thought I would detail some of the costs that employees are concerned about in this blog posting. The issue of “how to plan for the required care” is a larger issue. I’ll discuss that one in our monthly newsletter.

Some of the employees I spoke with had reached the point where they wanted to compare the costs of various alternatives of care. For example, “can my mother stay in her home” and “how much does that cost?” “If she can’t stay in her home, what are the options and how much do they cost?”

ANNUAL CARE COSTS

Genworth recently published information on median costs for several categories of eldercare services. For reference, I’ve included costs for three states.

  Ohio California Florida
Home Health Aide $41,367 $48,048 $41,184
Adult Day Health Care $12,969 $20,020 $15,600
Assisted Living Facility* $39,900 $42,000 $31,950
Nursing Home Care** $69,350 $77,745 $76,777

* Private, one bedroom               ** Semi-private room 

This information provides a frame of reference for alternative comparison on price only. Determining which alternative is best for a specific situation is a more complex issue that we help employees work through.

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About Caring Concierge
Caring Concierge is a risk management company providing employers throughout northeast Ohio with solutions to address business productivity loss caused by employee lost time hours resulting from the crisis of adult caregiving. The Caring Concierge model provides these solutions at no cost to employers. One motivating issue that inspired the creation of Caring Concierge is the personal challenges I've faced juggling work and trying to manage eldercare issues associated with the care and well-being of my elder parents. My efforts in the eldercare issues also extend to volunteer service. I proudly serve as Chairman of the Board of Directors of Fairhill Partners (www.fairhilpartners.org), in Cleveland, OH., a non-profit organization focused on lifelong learning, intergenerational relationships, and successful aging. In addition to academic degrees in Mechanical Engineering (undergraduate) and Business Management (graduate), I have earned the professional designation of Certified Senior Advisor.

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