Geriatric care: Costs
When I do posts on old age expenses people cannot believe the numbers. So if you have not paid for or seen the expenses of a person needing full time care, go and find out. Learn or shut up and read this.
If you have a person who is confined to his bed and needs to be fed, cleaned up and given medication, what are the costs?
Well to start with you will need 2 nurses – with 12 hours duty each. Preferably one standby nurse – for providing support to these 2 nurses. Each nurse will cost you ATLEAST Rs. 1500 per day. That itself translates to Rs. 90,000. No, there is no mistake – just do the math.
Assuming that the couple are living in an assisted living community. The cost of living there (assuming they don’t own the place), having a cook, and a maid, and using Uber and Ola for their transport (no car) it is about Rs. 50k per month.
Now factor in medicines, doctors fees, oxygen cylinder (rent), hospital bed (rent), etc. add in about Rs. 25k.
Phew. Now add it all up. It comes to about Rs. 1.75. Now this does not include the guy who helps with the banking, changing of bulb, holding the hand while going for a walk – for the person who is NOT bed ridden. If you include all this – it can be rounded off to Rs. 2L per month.
Anybody who thinks these figures are high, should take basic math class.
No, this does not include paying any child to come and looking after the parent. If that has to be paid, that is about Rs. 20K per round trip.
Most people who have paid for or seen these expenses will know that THIS IS ON THE LOWER side. I have not put in the figures of medical expenses, or even doctors fees. If you assume a high end locality, each doc visit is in 4 digits for sure.
Now go and use some of the calculators and plug in the numbers. No not even Pattu’s calculators in www.freefincal.com provides for these expenses. It is time when the included such costs. Imagine if a person who is bedridden for say 10 years. No, not an exaggeration. My neighbor’s parents were bedridden for 15 years – between his mother and father.
Remember this does not include the emotional costs, nor the cost of supervision – which has to be provided by a family member, and hence not quantified.
Welcome to the new world of our biggest mistake. We killed our HUF and many people in my gen do not have a kid by choice. Some do not have because the kids have migrated. Some unlucky ones will see their child die before them.
Sorry, but it is a bloody new world. Be prepared. God bless.
http://www.subramoney.com/2017/07/giving-your-assets-to-children/
go to this post of 2017 and read 2-3 idiotic comments saying “28000 is the income of my friends” and such shit. You are surely in the wrong place to read, go elsewhere please. Or use your brains.
mb
India should legalize Euthanasia for people above 80 and the stigma attached need to be removed.
After a certain age, it’s just not worth it.Even Indian Scriptures prescribe it.
Lord Rama walked into the Saryu river and Pandavas embraced death in cold Himalayas.
John
This is the sad and scary truth. No point being an ostrich. Thanks for the info.
Mira D
In 2011, ICU costs were ballpark 1.5 L/ week in a mid rung hospital. Ayah/ boy 700/ shift…
Your cost estimates are in line.
Harinee Mosur
As someone experiencing it at this point the emotional cost is overwhelming. You have to pay attention to your job but you also need to ensure your parents get attention at night or even daytime. And somehow caring for a newborn baby is understood but caring for an adult is not given the same importance in corporations.And assigning a carer/nurse won’t solve all the issues as getting a good one is tough, retaining tougher and if you don’t get involved, the care will become shoddy in no time.And the night shift ones are the real challenge as most of them come with the notion that they can sleep through so you will end up waking most of the time.
Carer is one profession which is going to grow in demand and needs technological solutions urgently.And corporations need to allow for leave for parental care which is more challenging than infant care.
And please do not suggest wild things like euthanasia etc.Life is getting longer and we need people to get fitter and be independent in their 80s also.In scriptures the characters all lived beyond 100 and were fit when they retired so lets misinterpret for our convenience.
And the need of the day is geriartic specialists else its hit and trial by many doctors.