Assessing the Costs of Caregiving

The average amount of time spent being a caregiver is five years. Unless you are aware of a terminal illness that may cause a death prior to that time you should figure your costs for a five year plan.

Will you need to take off work in order to provide care? Can you afford to do this? You will likely need to be available to take your loved one to medical appointments--which can be frequent. Do they need someone to be with them all day, or can they be independent while you are working?,

Does your community have an Adult Day Program? The typical costs are $40 a day. Does it provide transportation or is that your responsibility? Is there an active Senior Center in their community that they could spend some time each day?

What about meals? Will you make the meals for them? If you work will you leave a prepared meal? Do you have Meals on Wheels delivery available? These are on a sliding scale fee and frankly, I find them neither nutritious nor appetizing. Typically they are very high in sodium with a high tomato sauce content which can be irritating to a sensitive stomach to add all that acid. Can you afford to hire a personal chef who would cook 10 meals a week and leave them in their freezer?

Can you contact a local agency to do home care during the day? Or can you afford a private hire? In any case, you want to make certain that not only do you do a careful search but also a background investigation before you bring someone into your home to work with your loved one.

If you make the decision to keep your loved one at home, you will need to find a resource for a break. You will need a vacation time during the year. Will you have the support of other family members while you go away? Is there a nursing facility that has a respite care program that would be able to accomodate them for a week or so?

The average cost of a nursing home care is $50,000 a year--and that's without special services. The majority of the population still do not have long term care insurance so is this an amount you could afford? Because this is a long-term commitment, planning for the future is key. Take into account your loved one's financial resources, what opportunities there are in your community, and your emotional health.

In a great plan, you would have had this discussion with your loved one long before they need your help. You'll know what they want, be able to talk about what if you are unable to do that and what options they'd like. I also think it's a good idea to have them put it in writing so you can refer back to it with them if need be. With careful planning, being a caregiver can not only be doable but also rewarding for both of you.