Cost and Comparison

 

 

Cost and comparisons

 

There are several alternatives to senior care, they range from: retirement homes, family caregivers, hired caregivers, and long-term care facilities. Whatever the choice may be, the cost will always be important.

Cost Overview of Home Care Services:

Sadly, Canada does not fund home care on a universal basis. In Ontario, less than 5% of total health expenditures go towards home care services. Thus, private care companies have been established. Private care comes into the picture once government subsidies and family members can no longer provide the quality of care their loved one requires.

 A genuine private home care agency should be able to operate around subsidized hours and family schedules to fill in the time of family caregivers. Around 150,000 people in Ontario buy an additional 20 million hours of home care services yearly in order to remain in their homes.

 An average client of Milestone Health spends nearly $1500-$2000 per month to remain at home. Few clients spend as little as $80 per month to get help with some fundamental needs such as housework or foot care. At the other end, many clients get 24/7 support when faced with a crisis or palliative situation. Our service can be as flexible as you need.

Cost Overview of Institutional Care:

 

For those that choose other options, such as a retirement home or nursing home, there are many options to choose from. Here is a breakdown of Independent Living, Assisted Living, and Long-term Care costs in the Halton Region (costs may vary and change).

Independent Living – This option is non-government regulated and the client has to pay privately

Y

Range $2075 – $4750

Y

$550 – $1600 for an additional person

Y

Meals can be available but not usually included

Y

No personal assistance

Y

24-hour staffing for emergencies

Y

Availability of or can include housework

Y

Social/recreation programs are frequently available

Y

Retirement Home (Assisted Living)

Assisted Living – This option is Non-government regulated and the client has to pay privately

Y

Range $1760 – $5500

Y

$600 – $1000 for an additional person

Y

Includes all meals, housekeeping, laundry

Y

Personal support and help with activities of daily routines, medications are available for purchase

Y

24-hour staffing for emergencies

Y

Functional Abilities Assessments

Y

Social/recreation programs are available

Long Term Care (Nursing Home)

Y

Government-regulated, the client pays the accommodation cost

Y

Government assessment required to determine eligibility

Y

Range $1620 – $2170

Y

24-hour care is available, though, it is usually minimum with an average ratio of 12:1 patients to caregivers

Y

Includes all meals, housekeeping, laundry

Y

Over 20,000 people on waiting lists, usually waiting 2-3 years.

Illustration of Cost Comparison between Milestone Health and Retirement Home:

Y

The client requires 3 hours per day of Personal Care, help with meals, medication reminders.

Y

Average Price of Retirement Home in the Halton Region = approx. $4000 per month (for one person).

Y

Cost of hourly care = $32.95/hour.

Option 1 – Retirement Home:

Y

Client moves to Retirement Home on one-year contract

Y

Assume 1 hour per day of Personal Care included, 2 hours per day are charged

Y

Meals included

Y

= $4000 + (2 hours x 30 days x $32.95/hour)

Y

= $4000 + $1977

Y

= $5977

Option 2 – Milestone Health:

Y

Client hires Milestone Health Services, remains in their own home, no contracts

Y

Grocery bill for one person = $300/month

Y

Utilities = $400/month

Y

Emergency Response System installed = $40/month

Y

= 3 hours x 30 days x $32.95/hour + $300 + $400 + $40

Y

= $3705.5

To know more about our home care options or to get a free in-home consultation, contact us today