How Much Does a Professional In-Home Caregiver Cost?

How Much Does a Home Caregiver Cost?

The average hourly cost of one home health aide is $21, according to Mass Mutual. A regular 40-hour a week support schedule would bring that total to about $840 per week, $3,360 a month, and $40,320 a year.

Across the country in metropolitan areas, the cost can, on average, reach more than $30. At that rate, the annual cost can reach $62,400. In non-metropolitan areas, the average hourly cost can reach more than $50 in some instances, which is an annual cost of $104,000. The state-to-state and city-to-city fluctuation of cost is very important to research for your particular area.

A homemaker’s average national cost is $1 less than a health aide at $20. In some instances, in-home care could include both a homemaker and a health aide, which at the average cost for full-time care is more than $80,000 a year. These costs do not yet include medical care, medication, walking aids, home renovations, and general supplies.

Breaking Down the at-Home Caregiver Cost

The nationwide breakdown of costs will vary based on many factors. With that said, there are several ways that you can breakdown your costs: hourly, daily and overnight. This simple breakdown (described below) of home care costs will help you determine the right balance for you and your aging loved one.

For example, you may determine 24/7 care is needed but how could you break that out based on cost and time? If you or other family caregivers live with your aging parent, you could (if able) take on the evening and morning duties and have an at-home caregiver provide support during the normal business hours (or based on important hours in your schedule). An alternative is having daily support or as-needed overnight help.

You are not alone in having to navigate an emotionally, physically and mentally challenging topic. It's important to understand what options you have, to try out several scenarios, be OK with having to change and try them out. To guide you along, we have listed out the three primary ways to breakdown your at-home caregiver costs:

• Hourly Rates: Determine what hours you will need direct help. Keep in mind that it doesn't have to be only 9 AM to 5 PM. The hourly needs can vary in early morning, evening or nighttime hours. This is a good way to test out the at-home service and start to build out your daily and weekly schedule. For many home care agencies, you will likely have to commit to at least 2 (or 4) hours in order for their service to schedule and coordinate their staff.
• Daily Rates: This is a straight-forward option to have around-the-clock care for your aging parent. The daily rate will vary based on specialization required and the area you live. Having a daily cost keeps the finances simple as you will always know what to anticipate the cost to be instead of the hours varying per week impacting the overall cost.
• Overnight Rates: Those in need of overnight caregiving are typically older adults who need assistance from a professional at night because they either get up too many times to go the bathroom and need help with that or have degenerative conditions such as Alzheimer’s or dementia and may wander off into the night. The support offered is to provide safety throughout the entire night which can be a significant relief to you (you need sleep too!).

What Can Impact the Cost for a Home Caregiver?

There are numerous factors that can impact costs associated with contracting home caregivers. The following are the most common:

• The time of day: Providing services in the evenings, weekends, and holidays can increase the hourly rate charged.
• Additional services provided: If extra services are provided beyond the scope of work, the hourly rate may increase.
• Additional events: If there are additional events outside of the typical day-to-day activities that the caregiver must attend the hourly rate may increase.
• Change in location: If the location of the in-home care changes (to a different home or event location) the hourly rate may increase.

The cost of a home caregiver will vary from state to state and by services needed. After reading this article think about the following:

• What services will your parent or loved one need as they get older?
• What is the budget for home care?
• How much of the day/week will he/she need home care?

Answer these questions and use the information above to estimate the cost of a home caregiver. With this information, you are prepared to make the necessary decisions about what type of care your parent or loved one will need.

The Median Cost of Care

A survey in 2019 by Genworth based on 44 hours a day, 5 days a week, shows the median for each state, as well as the national average, below is a table for median prices for In-Home Care. You can see the entire report here.