The Power of Self-Managed Care Plans

The High-Cost Problem with Full-Service Providers

A prevalent issue faced by many seeking personal care services is the steep fees charged by full-service providers. In many cases, these can exceed $1,000 per month, putting a strain on many households. Furthermore, the value derived from these services often does not match the high costs.

Adding to the issue is the treatment of workers employed by these providers. Despite charging premium rates for their services, these providers frequently underpay and undervalue their workers.

The Solution: Self-Managed Care Plans

For those dealing with the challenges outlined above, there's an alternative that can provide better value and more control - Self-Managed Care Plans. With significantly lower fee rates, you could save up to half of your care plan costs or even more.

A standout feature of Self-Managed Care Plans is that workers are paid directly from the Care Plan. This arrangement typically leads to a substantial increase in workers' income compared to what full-service providers offer.

Self-Managed Care Plans: A Cost Comparison

To better illustrate the potential benefits of a Self-Managed Plan, let's consider an example:

Assume an average Care Plan costs $42,000 per year. With a full-service provider, they would typically pocket a third in fees, around $14,000. The remaining $28,000 would then go towards services provided. From these services, the provider often makes a profit of up to 50%, equating to an additional $14,000.

Switch to a Self-Managed Plan, and the scenario changes dramatically. The fees could be as low as $5,000, providing potential savings of $9,000 per year.

This reduction in costs could allow for $37,000 worth of services - a better deal for the care recipient. Additionally, it could result in $37,000 in income for community workers, a substantial increase of $23,000 compared to their income from full-service providers!

In Conclusion

Self-Managed Care Plans offer a winning solution for all involved. They can drastically reduce costs, give you more control over your care services, and ensure your workers are fairly rewarded. By eliminating the expensive middle man, you're investing more in the care you need and the people who provide it.

Reach out to us at CarePlan to find out how you can take advantage of a Self-Managed Care Plan.