Caring for a Loved One

The U.S. Department of Health and Human Services found that at least 70% of individuals over the age of 65 will at some point in time need long-term healthcare services. The cost of long-term healthcare has been steadily rising over the years and is expected to continue. Receiving professional care for an extended period of time at either a nursing home or in an assisted living community could significantly deplete your retirement savings and leave your children with nothing to inherit. The future is unpredictable. However, the cost of long-term healthcare is guaranteed to be expensive.  Contact our office to speak with an experienced lawyer today.

One of the most important parts of planning for long-term care is deciding how you will pay for the services. You can pay for the services with own personal income, healthcare insurance coverage, or benefits from Medicaid. However, the eligibility requirements for Medicaid are complex and constantly changing. In addition, a recent legislation made it tougher to qualify for Medicaid by revising the look-back period, and increasing penalties for transferring assets.

Elements of a Long-Term Health Care Plan

• Health Care Directive
• Durable Power of Attorney, Guardianship, or Conservatorship
• A Medical Assistance Plan
• Long-Term Health Care Insurance