Planning for Long-Term Care – Greene Estate, Probate, and Elder Law Firm

Who Needs Long-Term Care?

Long-term care involve services designed to helps an individual’s medical and non-medical needs. This may involve disability, illness, or day-to-day care for themselves. These services help them carry out their daily tasks on their own as independently and safely as possible.

Types of Long-Term Care Providers

Entering into long-term care is an important step towards getting the help needed to maintain the quality of life.

When deciding to enroll into long-term care, it’s important to be aware of the different types of long-term care options available. There are three primary methods for providing long-term care.

The first option for long-term care is to hire care providers to come to the home of the enrollee needing help. This option can be beneficial since the enrollee will be in the comfort of their own home. But, since the home is not a facility, it may not designed to support these situations. Also, caregivers range in prices, but they are not the most expensive option.

Another possibility when choosing long-term care is enrolling into an assisted living facility. Facilities are there to provide personal care in a home-like environment. Each individual facility offer different features. Assisted living may cost as much or more than home caregivers, but it is often not the most expensive option.

The final type of long-term care providing are nursing homes. Nursing homes offer the same services as assisted living, such as personal and medical care. Nursing homes may reduce the independence abilities of the enrollee, and they tend to be very expensive. Nursing homes can cost over $100,000 per year in the United States.

How to Pay for Long-Term Care

After hearing about the different types of care, you may be wondering, how does someone pay for all this care? There are a few options to pay for long-term care. The first option is to use the assets of the enrollee. be advised this method can burn through assets very quickly. Another option is to have a long-term care insurance policy. This type of policy will help cover the cost of long-term care, but the coverage varies for every company. The third (and most common) option is to enroll into Medicaid/Medi-Cal. These government funded programs will pay for long-term care, but they have an enrollment requirement system which relies upon income and asset level.

How to Plan for Long-Term Care

Now that you know how to pay for care, and which types of care are available, the question still remains; which care is the right choice? The majority of people are best off by contacting an attorney to learn how to get the most out of their long-term care goals. Our firm specializes in Medicaid/Medi-Cal Trust planning and asset protection, both of which are ideal when looking into long-term care. To learn more about our services, please schedule a consultation, and learn how to plan for long-term care.