As you or your loved one gets older, it is important for you to start planning for long-term care that may be needed.Options may include home health aides, housekeeping help, assisted living, nursing homes and Alzheimer’s care facilities. Long-term care is expensive, making it important to plan for how you will pay for it.
A majority of the care needs older people have involves the activities of daily living. Public programs like Medicare will not pay for unskilled workers who help with the activities of daily living. Instead, Medicare only pays for skilled or rehabilitative help that is needed for a short duration. Similarly, a majority of health insurance plans do not cover unskilled help with daily living activities.
There are several private options that may help you to pay for your long-term care needs, but they may be expensive. These include reverse mortgages, annuities, some life insurance options and long-term care insurance. All of them have their own eligibility guidelines and rules. You will need to make certain that you understand them so that you can choose the option that is best for you.
At our law firm, we understand how difficult it can be to transition into long-term care. We also understand how the different programs work. We work closely with each of our clients in order to help them to understand the different options that they have and to plan accordingly so both they and their finances might be better protected. We assist them with gathering the information that they need to apply for their chosen options, and we advise our clients about what might be the most appropriate choices for them. If you have questions about planning for your long-term care, you may want to review the information on our page on the subject.