One of the greatest fears of older Americans is that they may end up in long term care facility, such as a nursing home. This not only means a great loss of personal autonomy, but also a tremendous financial burden. Depending on location and level of care, nursing homes can cost anywhere between $35,000 and $150,000 a year.
Most people end up paying for long term care out of their savings until they run out. Then they can qualify for Medicaid to pick up the cost. The advantages of paying privately are that you have more options of care facilities to choose from, and it eliminates or postpones dealing with your state’s welfare bureaucracy, which can often be a demanding and time-consuming process. The disadvantage is that it’s expensive.
Careful planning surrounding long term care, whether in advance or in response to an unanticipated need for care, can help protect your estate, whether for you, your spouse or for your children. At Adams & Duncan, we assist seniors and their families as well as individuals with disabilities in understanding the eligibility rules for Medicaid. We review the Medicaid eligibility requirements with clients to determine if they are eligible for Medicaid, or if there are planning tools available to them to achieve Medicaid eligibility in the near future. If a client is eligible for Medicaid and seeks assistance with accessing the benefits available to them, we also offer assistance necessary to access the benefits, such as preparation of the application for benefits, gathering of asset and income verification, explanation of previous gifts and/or transfers, and correspondence with social workers.
In addition to Medicaid and long term care planning, we also assist seniors and their families with a wide array of other elder law issues that affect the livelihood of a senior, including retirement and estate planning, powers of attorney and other forms of substitute decision making, abuse of vulnerable individuals and general advocacy for seniors.
