According to long-term care insurer Genworth, nearly three-quarters of those who require long-term care prefer to receive that service in their own homes. Perhaps that is because home care can be a relative bargain. According to the firm, the median wage for a home health care aide is just under $20, an amount that has increased 1.3 percent annually in the past five years. The median annual costs of assisted living and a private nursing home room are $42,000 and $87,600, respectively. Those costs have risen 4.3 and 4.2 percent per year, respectively, over the past five years. Long-term care is more expensive outside the home, and the gap is widening. However, a recent change to the Fair Labor Standards Act may turn the trend and shrink that divide. Home care aides will soon be covered by the law, making them eligible for minimum wage and overtime pay. Most already earn more than minimum wage, but most do not earn overtime pay. To control the cost of home health care, many families hir
Posted on: Wed, 21 May 2014 00:56:12 +0000
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