Private duty home care is a necessary luxury. It’s a necessity because of the services provided. When the elderly or infirmed require assistance with activities of daily living, or ADL’s, private duty nursing is one of the only options. this service can be considered a luxury service because of the costs involved and because of its main availability is not provided by a government program.*
Long term care insurance can be used to pay for some of all of the services, but in many cases people pay directly out of pocket for these services. Costs can occur on an hourly basis for 2 to 24 hours in a day, or someone can live-in the home daily to assist with ADL’s.
Whatever option is chosen, it is important to plan early on regarding the financial aspect of the care to be provided. Based on recent surveys by various long term care insurance companies, rates in South Florida range anywhere from $14-422 an hour, with average rates being somewhere around $18 an hour. Live in services also vary and can be anywhere from 4140-4200 a day, averaging around $175 a day. Unless you are a Rockefeller, planning your nest egg or your parents nest egg to cover these costs should be explored early and often. Long term care insurance is a great way to pay to cover some or all of these costs.
Whether you plan to pay direct or thorough a long term care insurance policy, remember, there is no alternative presently for these services, other than a nursing home. custodial care as we call it, is not a long term option with the Medicare program, and in many cases it is not a short term option as well. But staying ion your home with the assistance of private duty care with some careful pre-planning can help ease the transition down the road when the services are needed, both mental and financially. So see your financial planner or your insurance agent to see what is your best option for you or our loved one down the road.