Please enable Javascript to enable the best experience for you.

Q: How much does home care cost today?

The average cost of home care in the U.S. is about $33 per hour. Reside-in caregivers usually charge between $250 and $280 per day, and 24-hour care can cost between $20,000 and $24,000 per month, depending on where you reside.

Q: How much could home care cost in 2035?

If price growth is 2.3% annually, home care may cost almost $120,000 annually by 2035. This would be nearly twice the average cost of home health aides now.

Q: What factors affect the future price of home care?

The cost of home care in the future will be affected by things like inflation, rising pay for caregivers, an ageing population, a lack of workers, and additional costs that come with technology like telehealth, AI monitoring, and smart home safety devices.

Q: Does insurance cover rising home care costs?

Getting long-term care insurance and other plans early may help pay for some of the costs, giving you a break from your growing financial obligations. However, most health insurance and Medicare do not cover rising home care costs.

Q: How can families prepare financially for future care?

Families can get ready for future care by saving early, looking into long-term care insurance, preparing for inflation, incorporating family caregivers in the planning process, and receiving expert assistance on making plans that will work for them to pay for rising home care costs.