Posted on Monday, October 21, 2019 11:34 AM
The common thought is that home-based care is much less expensive then skilled nursing care, but that is going to change as in-home care costs growing quickly.
Last week, the annual Genworth Cost of Care Survey was released, and it tracks the cost of home care, home health, adult day services, assisted living and skilled nursing. “The cost of nonmedical home care spiked more than 7.1% in 2019 compared to 2018, while the cost of medical home health services increased more than 4.5%. That brings the median monthly cost of full-time home care up to $4,290 and the median monthly cost of full-time home health care up to $4,385.”
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