Hospice care is much cheaper than preventative or curative care provided in hospitals and nursing homes. The average cost for insurance-paid hospice care is roughly $120 per day, compared to daily hospital rates which eclipse $7,300, according to the American Hospital Association. Most private insurance companies will cover the costs of hospice care, and people who aren't insured can usually work out manageable payment plans with different hospice care providers. Hospice care is also paid for by the Medicaid Hospice Benefit and the Medicare Hospice Benefit.

The Medicare Hospice Benefit does not pay for room and board in facilities where patients receive their hospice care. The benefit also doesn't cover duplicate services administered by other providers, or curative treatment for illnesses and health conditions.

Hospice care encompasses medication, counseling, physical therapy and other services administered with the intent of relieving symptoms. It's common for hospice programs to provide nurses or healthcare experts who can provide valuable education to patients and their families. Hospice care can also cover nursing care, social services and homecare services to improve the patient's quality of life. Hospice providers also provide respite care, allowing family members and caregivers to take breathers from their responsibilities. After the patient passes away, hospice care organizations may provide grief counseling services for surviving family members.

Numerous organizations provide hospice care across the United States. A good starting point for finding hospice care in your area is the National Hospice and Palliative Care Organization. You can also consult with your primary care physician or your nursing home staff for information about local hospice care. The vast majority of hospice care patients prefer to receive treatment in their homes, but others choose to receive car in hospitals, nursing homes and assisted living facilities.