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If you haven’t saved a million for a retirement, then this article is for you. Senior home care is one of the burdens that most American families caт hardly deal with. Financially supporting either themselves or their aging parents or relatives often becomes an actual challenge.

The cost of services in senior care centers can reach the point of almost $7,500 per month. But even in-home care is not a super cheaper alternative – the nurse would take from $15 to $30 per hour.

Many people think Medicare is supposed to cover bills for senior care. The truth is, it won’t. The long-term care insurance is actually the only type of insurance able to take care of most senior care expenses. However, applying for a long-term care insurance is not common for most of the Americans because of its larger payments.

If taking a long-term care insurance is not an option for you, don’t panic. There are some ways to keep the cost of your senior care much lower.

Compare Prices of Senior Care in Different Regions

As usual, the price for equal services varies from one institution to another, also it may differ from one state to another. And if you want to find the best deals on long-term senior care, it makes sense to research each option available in your region and even in the state.

You may be surprised but costs of services in private nursing homes of Georgia ($69,000) are twice cheaper than same services in Connecticut ($155,000). Of course, such price difference may influence your further decisions.

Reduce the Cost with a Help of Government

Did you know there exist special governmental programs that help minimize the fee if you fit the certain criteria? For instance, honored former military members and veterans have the right to claim for free adult day care, respite care or skilled home health care.

f you are a pensioner with assets of no more than $2,000, you can apply for Medicaid. If you qualify, your costs for nursing home care will be reduced in times.

The other options include applying for a financial support from private organizations. At this point, some programs can cover only disease-specific senior care services. This means, paying only for a specific kind of health care that a person cannot perform due to his physical restrictions. Such options help reduce the cost because you won’t be under a full-time care.

Give Preference to Adult Day Care

Not everyone knows but long-term care in nursing homes and in-home care have a much cheaper alternative. Have you heard of adult day care? This one makes a great deal for elderly people for several reasons.

First, you are not going to move out of your home. Second, it’s one of the cheapest senior day care opportunities. Third, you’ll never get bored: the program for senior visitors requires group activities and in addition 3-course meals.

Finally, you can become a member of a continuing care retirement community, the abbreviation for which is CCRC. The organization offers an independent living unit and such amenities like access to long-term-care services.

However, to become CCRC member you have to meet certain requirements. Besides, there is an entrance fee of $115,000, and the monthly fee ($2,100). Of course, not everyone can afford such amounts at first. But keep in mind that the community is able to provide you with all levels of care you might be needing.

Take the Tax Break

For those, who think about senior care for their sick parents (make sure you know how to choose health insurance), such options can be very expensive. Most of the times, parents move into their kids’ houses to reduce the cost of day care to the minimum.

Nevertheless, the US government came up with some benefits for children who must take care of elderly people.

Now it’s possible for them to get a tax break, which helps handle the day care expenses much better.

Emily Sanders, a managing director at United Capital’s Atlanta office, says you can claim the assets of your parents or a parent as dependents, and receive a tax break (read about small business tax). By doing this you can somehow deduct senior care expenses.

Pre-plan Your Senior Care

Finally, you have to remember that a right plan can save both your time and money. Besides, pre-planning your future senior care helps eliminate anxiety and stress.

So, how would you make a good plan? When it comes to senior care, the most important aspects to pay attention to are your actual financial goals for the retirement and, based on that, a full understanding of what you can expect from your future health care coverage.

P.S.: If you still have time, learn how to save for a retirement.