This is the number one question we get asked about assisted living every day. And if you are NOT asking this question and are assuming the government will pay for your parents stay at an assisted living, then we need to have a frank talk!
Every year, Genworth Life publishes the average costs for senior care and elder care across the country. These reports include the cost for not only assisted living but also nursing home care, home health aides & homemaker services as well as adult day care. On average across the country assisted living runs $43,200 a year. That is $3,600 a month. The state of Illinois on average matches the average price across the country, however the Chicago area has a higher price tag… about $58,740 a year or $4,895 a month.
Many people think staying at home and hiring a caregiver will save them money. However the study found that the national average cost for a Home Health Aide ran $45,760 and in Chicago it was $50,336 a year. Keep in mind, this is on top of the cost of maintaining the house or apartment your loved one lives in including rent, mortgage, taxes, maintenance, food etc…
You can print out this guide to compare the cost of staying at home with care vs. living in assisted living that most people have found very helpful when comparing the two.
Click here for more information on the Genworth 2015 Cost of Care Survey.