With the cost of senior care rising every year, many families are asking—how can we afford quality care for our loved ones?

If you have shopped for in-home care or assisted living in recent years, you’ve likely noticed that prices just keep climbing! Many of us remember when hiring a caregiver cost around $15–$18 per hour. Now, that rate has nearly doubled! Assisted living costs have typically increased 3–5% annually, but in 2025, we are seeing increases of 10%, 15%, or even 20% in monthly rents. If you’re holding out for prices to drop, they won’t. The average cost of senior living now exceeds $4,000 per month—and it’s only rising. So, how can you make senior care more affordable?

Practical Ways to Reduce Senior Living and Care Costs:

Assess What Help is Needed. Make a list of tasks your loved one needs assistance with and see if family members or friends can help with non-medical needs like yard work, home repairs, or transportation.

Be Cautious with Private Caregivers. While hiring an independent caregiver may seem like a cost-saving option, be wary of individuals who are not licensed, trained, or background-checked. The short-term savings could lead to liability issues, theft, or even abuse.

Consider Downsizing. A smaller apartment means lower costs. Many senior communities offer shared spaces for socializing, reading, and activities, reducing the need for extra personal space.

Review Medication Costs Annually. Visit Medicare.gov to compare prescription plans and find potential savings.

Explore Hospice or Palliative Care Benefits. If your loved one has a progressive disease, Medicare may cover incontinence supplies, medical equipment, and other needs, reducing out-of-pocket expenses.

Share Care Costs with Other Residents. If your loved one lives in a senior apartment, check with management to see if care providers can be shared among multiple residents.

Always Ask for Discounts. Many communities adjust rates based on availability and other factors—asking for a discount on rent or fees may result in unexpected savings.

Consider a Roommate in Assisted Living. Sharing an apartment (typically with a private bedroom and shared bathroom) can significantly lower costs.

Look for Discounted Units. Apartments with a less desirable view or location may come at a lower rate, potentially saving hundreds per month.

Move in Temporarily with Family. Just as many young adults move home after college to save money, temporarily moving in an aging parent could extend financial resources for years and strengthen intergenerational connections.

Check for Veteran Benefits. The VA may help cover medication costs, supplies, and care expenses, or provide additional financial support.

Explore Social Security Spousal Benefits. The Social Security office can provide details on any additional financial assistance available to spouses.

Seek Non-Profit Assistance. Some organizations offer funding for respite care or scholarship programs for adult day programs. Disease-specific or civic groups may also provide financial aid.

Use Local and State Senior Programs. Many counties and states offer income-based programs, meal and transportation services, and adult day programs. Check local government websites for resources.

There are many ways to save money on senior living and care beyond this list. The most important takeaway? Don’t navigate this journey alone. We are here to be your guide and advocate in finding the best care solutions for your loved one. Contact us today to explore your options!