Elements would let you do the things that LR can’t such as using layers, making detailed and intricate selections and masks, the use of blend modes or for compositing (taking parts of one photo and pasting it to another.
The alternative would be The photography plan (LR+full Photoshop) which has monthly subscription of $9.99 or local currency price. The benefit of a subscription is that there is no upfront cost and your apps are up to date.
I say this because it looks as through LR6 is about to be released having been leaked on the French site FNAC.
