McGregor, the only PACE program currently in the State of Ohio is determined to welcome additional partners to support our seniors, 95% of whom still live in the community. Services the program provides allow older adults to remain in their homes and in their neighborhoods for almost two years longer than those who do not take advantage of a resource such as this.
The PACE program has been touted for its favorable outcomes such as lowering hospitalizations, decreased return to hospital visits, and less than one emergency room visit per year, largely due to the coordination of care within the program itself.
With such a high caregiver satisfaction rate of more than 97-percent, family caregivers are most likely to recommend PACE to someone needing similar services. The program reportedly reduces the burden of caregiving by 58%. Also worth noting, on average, family caregivers are spending 26 percent of their income on caregiving activities according to the AARP.
Long distance caregivers have the highest annual expenses of $8,728 compared to those who cared for someone nearby at a cost of $4570 annually based on research on the financial costs of family caregiving. This cost is based on 44 hours of care a week, the industry standard. More than 90% of home care agencies charge by the hour, additionally with a minimum set number of hours per visit. Some do offer discounted rates for monthly contracts.
From 2004 to 2021, the cost of in-home care services had a five-year annual compound growth rate of 5.39%. This includes an increase of 10.6% between 2020 and 2021 due to a surge in demand
It’s no surprise that many older adults prefer to age at home without assistance, but sometimes this isn’t possible due to declining health or dementia. One option to help aging adults remain in their homes longer is in-home care, a type of nonmedical help with day-to-day life provided by trained aides in the comfort of a senior’s own home.
But how much does home care cost, and is it the right next step for your loved one? Before beginning your search for in-home care, consider how much help your loved one requires. Do they live alone independently but want assistance with a few chores? Or do they require full-time help due to changes in physical or cognitive abilities? This is where PACE and the comprehensive services win out!