The 10 Best Home Care Agencies for Seniors in Prosper, TX for 2024

Caring.com offers a free service to help families find senior care and authentic reviews to help you in your decision. On average in Prosper, TX, residents and their loved ones rate In Home Care agencies across the 61 options below.

The 2021 Genworth Cost of Care Survey reveals the median monthly fee for home care in Prosper to be $4,767. The town’s typical senior pays $191 more per month than the average Texan but saves $190 when compared to the equivalent American. Prosper is generally costlier than nearby cities, except Dallas, where the average fee is another $95 per month. Comparisons with Prosper show Waco’s typical senior saves $99, Tyler’s residents save $391 and Longview’s save $954.

Comparing home care fees with other types of care in Prosper reveals it to be at the costlier end of the spectrum. Home health care agencies also average $4,767 per month. This is despite it providing basic medical care from licensed professionals. Assisted living’s average fee of $3,500 is notably more affordable. However, this option involves relocating, which might be difficult for some seniors. The most expensive option in Prosper is nursing home care. The average facility charges $5,171 for a semiprivate room.

Given the high cost of in-home care, many people use one or more forms of financial assistance to cover the expenses. Below, we explain some of the most common sources of financial help for paying for in-home care. If none of these options are available to you, you can reach out to your Area Agency on Aging or Aging and Disability Resource Center to learn about local resources.

• Long-Term Care Insurance: Long-Term Care Insurance covers expenses related to senior care, including in-home care. Depending on the policy type, beneficiaries may receive a cash payment to use towards long-term care or reimbursement for qualifying long-term care expenses. Note that there are limitations- typically a maximum benefit of $150 per day- and exact coverage terms vary depending on the exact policy, so always check the details.
• Medicare: Medicare does not cover in-home care because it is classified as custodial, or non-medical, care. However, some Medicare Advantage and Medicare Supplement plans, which offer expanded benefits, may cover in-home custodial care.
• Medicaid: Medicaid coverage of in-home care varies between different states because it is not a federally mandated benefit. Currently, all states cover some in-home care either through their standard Medicaid or a waiver program. The specific coverage rules are set individually by each state.
• Veterans’ Benefits: The Aid and Attendance benefit is a monthly cash payment that beneficiaries can use to pay for senior care, including in-home care services. To qualify for A&A, veterans must already receive the VA pension and meet several additional requirements, including needing assistance with the activities of daily living. Contact the Department of Veterans Affairs to learn more.
• Reverse Mortgages: Home Equity Conversion Mortgages (HECMs) are federally insured loans that are available to homeowners age 62 and over. Reverse mortgages allow you to access a portion of your home’s equity in cash, tax free. Many seniors use reverse mortgages to finance their care expenses, including in-home care. Note that although there are no monthly payments due on reverse mortgage loans, borrowers do have to repay the loan once the last surviving homeowner passes away, moves, or sells the home.