As older generations age, their healthcare needs become more complex and costly.
According to Genworth’s most recent analysis of care costs, the national average cost of in-home care is around $5,200 per month.
On top of this, seniors who need memory care can expect an additional 20-30% in costs per month.
Because of this, many families find themselves struggling to pay for the care that their loved ones now require.
Regardless whether it’s in-home care, assisted living, or memory care that your loved one needs, the costs can quickly add up. Many families are left wondering how they will possibly be able to afford it.
Fortunately, there are a few resources available that can help families and caregivers pay for these essential care needs. Here, we discuss 7 ways to pay for senior care.