Let’s be real — we don’t often think about senior care until it’s right in front of us. One day you’re busy juggling work, home, and life, and the next, you’re wondering, “How are we going to manage care for mom or dad?”

If you’ve been there (or see it coming), you’re not alone. Care for aging parents in India is becoming a necessity for many of us. And it’s not just about finding a nice place — it’s also about making sure we can actually afford it without draining our savings.

Let’s chat about how you can start planning financially for senior care and assisted living — before things get urgent.

What Care Options Are Out There in India?

First off, let’s understand what we’re dealing with. Not all elder care is the same, and the costs can swing wildly depending on what you choose.

Old Age Homes

These are the basic, no-frills options. A roof, meals, and sometimes a doctor on call. Affordable? Yes. Comprehensive? Not really.

Assisted Living Facilities

Think of these as upgraded old age homes. There’s medical help 24x7, nurses, caregivers to assist with daily tasks, plus activities to keep things lively. Perfect if your folks need extra help but still want some independence.

Palliative & Nursing Care

For elders dealing with chronic illnesses or serious health conditions, palliative care focuses on keeping them comfortable and pain-free — whether at home or in a facility.

Home Care Services

This one’s gaining popularity. You hire a nurse or caregiver who comes home to help out. Super convenient but costs can add up over time, especially if it’s long-term.

Quick Cost Snapshot:

• Old Age Homes: ₹10,000 to ₹30,000/month

• Assisted Living: ₹35,000 to ₹1,00,000+ /month

• Palliative Care: ₹50,000 to ₹1,50,000+ /month

• Home Care: ₹500 to ₹2,000/day

Knowing this, the question is — how do you plan your finances around it?

What Impacts the Cost of Elder Care?

There’s no one-size-fits-all price tag, but here’s what usually drives the cost up or down:

• Type of care needed: Regular assistance vs. full-on medical supervision

• Location: Pune, Mumbai, Delhi? You’ll definitely pay more in big cities.

• Special health conditions: Dementia, mobility issues, post-stroke care — these all add to the bill.

• Duration: Is it for a few months of recovery or a permanent setup?

How Can We Plan Financially for This?

Here’s the thing — the sooner we start planning, the better. No one wants to scramble last minute. So, here’s what you can do:

1. Start Putting Money Aside Early

Just like we save for vacations or a car, start a fund for elder care. A little saved consistently goes a long way.

2. Get Good Health Insurance

If your parents don’t already have health insurance, it’s time to explore options. There are plans made specifically for senior citizens — and they can save you a ton during medical emergencies.

3. Tap into Government Schemes

Not many of us explore these, but they exist:

• Senior Citizens’ Savings Scheme (SCSS)

• Varistha Pension Bima Yojana

• Pradhan Mantri Vaya Vandana Yojana

These can give a steady post-retirement income for your folks.

4. Make the Most of Tax Benefits

Did you know you can claim deductions on health insurance premiums paid for your parents under Section 80D? If not, there’s some tax-saving waiting for you!

5. Have “The Talk” with Family

Let’s face it — elder care is a family matter. Talk to your siblings, cousins, whoever’s involved. Share responsibilities and expenses. It’s always easier when everyone chips in.

How to Pick an Assisted Living Facility (Without Breaking the Bank)

When you’re shortlisting a place, here’s what you should check:

• Is medical help available 24x7?

• Are the facilities clean and safe?

• What’s the vibe? Are there activities or is it just beds and meals?

• What’s not included in the price? (Hidden costs like special diets, physiotherapy, or personal care help)

• Reviews matter: Don’t just go by the brochure — ask around!

We want our parents to be comfortable — but let’s not empty our pockets unnecessarily.

Keep Your Plan Flexible

Planning for elder care isn’t a one-time thing. Here’s how to keep it future-proof:

• Factor in inflation — medical costs aren’t getting cheaper.

• Review your plan every year — needs change as our parents age.

• Diversify your savings — FDs, pension schemes, mutual funds… a mix is good.

In a Nutshell

Planning for senior care is really just another form of love — making sure our elders live with dignity, care, and comfort. It takes some effort, sure, but with the right financial planning, it doesn’t have to be stressful.

And hey, if you’re in Pune and exploring care options, do check out Sanctus Healthcare’s 24x7 Care Centre. It’s a space where your loved ones are cared for like family — with the medical support they need and the warmth they deserve.

👉 Learn more here: https://sanctushealthcare.com/services/24-x-7-centre/

FAQs on Planning for Senior Care in India

Q1. How much should we budget monthly for assisted living in India?
You’re looking at anywhere between ₹35,000 to ₹1,00,000 per month, depending on the city and type of care.

Q2. Are there any government schemes that help?
Yes! Schemes like SCSS, Varistha Pension Bima Yojana, and PM Vaya Vandana Yojana offer income and financial safety for elders.

Q3. Can we get health insurance for parents over 60?
Absolutely. There are multiple policies tailored for senior citizens. It might be a bit pricey but definitely worth it.

Q4. How do I choose the right care home?
Look for round-the-clock medical care, hygiene, good reviews, and check for any hidden costs.

Q5. Any tax benefits?
Yes! Under Section 80D, you can claim deductions on health insurance premiums for your parents — which helps lighten your tax load.