One of the key considerations when seeking aged care help is, of course, the level of support you receive, and the costs associated with that support. In this blog, we discuss the key difference and costs associated with Home Care vs Residential care.
Home Care support is completely tailored to suit you and your needs. The carer or carers you choose to work for you are coming to your home to support you, and only you. You have a say in what help you receive from the vast range of services on offer, and when you receive it.
Home Care support is best for older people who are able to still live happily and independently at home with some personalised support. If you don’t have complex health or mobility needs, it can be possible for you to stay in your home for the rest of your life with sufficient Home Care support.
Residential Care is well suited to an older person needing more intensive help. One of the major drawbacks is that there is a lower degree of flexibility. The carers are working for all the residents and trying to meet all their needs and requirements. Although the level of care and support is still high, there is less flexibility and choice.
Residential Care is increasingly becoming the choice for those nearing end-of-life. A recent report* indicates that the average age for men entering permanent residential aged care was 82.3, and women 84.6.
It is important to note that this same report showed that the average length of stay for each person entering permanent residential care was just under three years. This indicates that people are only choosing to enter residential aged care when they have significant health issues.
What costs are involved?
The good news is that living independently in your own home and receiving support via a Home Care Package is significantly more cost-effective than residential aged care.
Home Care Packages are subsidised by the Government – how much is subsidised depends on your individual financial circumstances. You may be asked to contribute, but these contributions are capped:
- for those facing social or financial disadvantage, costs are capped at 17.5% of the standard single aged pension
- part-funded or self-funded retirees will be asked to contribute more, but it will be capped at $29.92 per day, $10,892.89 per year – or $65,357.65 over their lifetime.
Read more about Accept Care’s Home Care Packages and what they might cost.
Residential care is by far the more expensive option. The initial outlay can exceed $350,000. There is also an annual care fee which costs just under $50 per day but is means-tested, so this can soar to over $200 per day for some residents.
Clearly this option is necessary for some people as they age, but it can place significant financial and emotional stress on the individual and their families. Where Home Care is an option, it should definitely be considered.
Choosing the right option for you
It all comes down to personal choice and your own circumstance as to whether you decide to stay at home with support coming to you or you decide to move into an aged care facility of your choice.
The best part about Home Care is that your life really can continue as usual with very little disruption. You can continue living in your familiar surrounds, with just a little more help or quite a lot.
However, residential care may be a good option if you live alone, want to downsize, make new friends, and attend structured activities. Sometimes this decision is necessary due to significant health issues and the need for constant support.
While residential care offers around the clock care, these days home care workers can meet increasingly complex demands. This allows older Australians wanting to continue living at home to do just that. At Accept Care, we can work with you and your family to make sure you are comfortable and safe in your own home and can help you access government funding.
For advice about the right options for you, or to discuss Home Care options, contact us or talk to our friendly care coordinators on 08 8251 5186. For more information on the Home Care Package download our Home Care Package Overview by clicking the button below.
*Report on the Operation of the Aged Care Act 1997, 2018-2019