Agate, if a caregiver stays over night I have been told they make more, so I am thinking you are certainly in the ballpark. For people who do not qualify for Medicaid it is nearly impossible to have 24 hour a day care unless you are wealthy. This is what I have always been told.
Of course some people have Long Term Care Insurance which would cover a portion for those persons. I have Long Term Care Ins., but for in home care the policy only pays $55.00 per day. Therefore, if I needed 24 hour care I would have to sell my house - I guess. But I had a friend (now deceased) who had LTC Ins and her policy paid as much at home as it did in a facility. I do know it is very expensive if you are paying yourself. I don't know anything about Medicaid.