Home nursing or assisted living? Helping you choose.

In the words of Walt Disney, growing old is mandatory, but growing up is optional. There are hundreds of expressions; some light and humorous, some a little darker and some downright scary. They all have one common theme though; getting older is inevitable. And it is almost inevitable, too, that we will someday face the choice between home nursing and assisted living.

Growing old affects people in very different ways. Society and culture have a lot to do with the way we age and the quality of life we have through these “golden years”. While some may be able to remain independent into their nineties, a lot of us will eventually need help.   

Long-term care is nothing new, but, in recent years, it has become something that will touch almost everyone’s life at some point; either as a patient or as a caregiver. According to the US government website LongTermCare.gov, almost 70% of people over the age of 65 will make use of some type of long-term care services.

All these millions of people have one common choice to make. Do you opt for home health care or would you prefer to move to an assisted living facility? There are several factors to consider in this regards and we’ll take a look at the ones we consider most important.

Lifestyle

More than fearing old age, many people dread the prospect of growing old alone. With an ever-aging population, this is the reality for more and more people every year. Surprisingly, though, A Pew Research Center study reveals that, in the US, more than a quarter of people over the age of 60 live alone. This is much higher than the global average of 16%.

Despite this, many people will still choose to live among other people. They feel a sense of security in sharing their lives with other people who are in the same position as themselves. For this group, assisted living facilities are the answer. In general, assisted living facilities or nursing homes can take care of everything a person may need when they can longer look after themselves.

A typical nursing home will provide self-contained accommodation combined with a comprehensive suite of optional facilities or services. The options include meals, medical services, transport, group activities and the like. People frequently start out with just the accommodation but take up more and more of the optional services as time passes.

Cost 

The most important consideration in opting for assisted living is the cost. Cost estimates range upwards of $4,000 per month in the US. This cost is beyond the reach of a significant portion of the population. There are, however, some options that may assist in funding this cost.

Insurance

Assisted living will almost certainly include a healthcare cost component. This cost, or at least a portion of it, should be covered by health insurance. Medications and certain medical procedures like injections should generally be covered. Personal nursing care may not be covered but this would depend on the terms of each individual policy.

Life insurance or annuity policies have a cash value when sold or surrendered. Think twice before doing this, though, as the surrender value would be a fraction of the policy’s real worth at maturity. This should be regarded as a last resort. Mature policies, on the other hand, tip out a monthly sum that usually endures for life. It may be worth waiting a while if policies are close the maturity.

Leveraging assets

If you’ve owned your home for twenty or thirty years, the chances are you have a huge appreciation in value compared to an almost paid-up mortgage. Rather than sell the property, you could refinance it and realize a portion of that increase in value. At least this way, you retain the property for the benefit of your heirs.

People are inherently accumulators of things. At the age when we’re starting to consider assisted living, many of us may have some pretty valuable things gathering dust in a closet. The media isn’t short of stories of people discovering a forgotten treasure in the attic. Always remember – one man’s trash is another man’s treasure.

Home nursing     

For the vast majority of people, home health care is the only option, whether for reasons of affordability or because of a preference to maintain some independence and self-esteem. The numbers speak for themselves; almost one in six Americans have provided home nursing services to a loved one in the past 12 months. This compares to a current estimate of somewhere between one and two million people residing in assisted living facilities.  

The home nursing industry is growing very rapidly. This is in part due to improved healthcare and an ever-increasing life expectancy. In the last 50 years, the average US life expectancy has increased from around 70 years to a shade under 80 years. This upward trend was briefly reversed by a higher mortality rate during the Covid-19 pandemic.  

The expectation is, however, that the trend will turn positive again in due course. Of course, the number of people giving or receiving long-term care has increased along with the rising life expectancy and will continue to do so.

Gearing up

In line with the growth in patient and caregiver numbers, there has also been enormous growth and development in the market for equipment and consumables. Modern adult care products allow people to maintain an active lifestyle and face the challenges of the golden years with confidence and dignity.

Your first foray into this world will probably be a little scary in more ways than one. Firstly, people still stigmatize adult home nursing and the conditions that create the need for it. Secondly, just the sheer range of products and aids will overwhelm a lot of people. This is where the team at LL Medico will be your best ally.

With a track record of almost 30 years in this space, the LL Medico team understands where you are and how you feel. We know what you’re going through. We have walked this path with hundreds of others. Have a browse around our website and check out our range of incontinence products, adult diapers and many more. If you’re still unsure, give us a call at (855) 422 4556 or drop us a line at [email protected].