Long-term care (including nursing home care) is something that many middle class seniors will need, but unfortunately not many have planned for it. With care costs as high as $10,000 or more per month, seniors and their families face substantial financial burdens. While some seniors can afford to be private pay, others cannot. Moreover, middle class seniors who can afford to be private pay will completely deplete their assets in a matter of years or less.
However, Medicaid, a joint State-Federal program, can assist with paying for long-term care. With proper planning, Medicaid can pay either part or all of those long-term care costs and you may be able to preserve some of your assets. However, the rules to become eligible under Medicaid are complex and constantly changing. Attorney Powers has the experience and expertise to help you avoid the financial burdens related with the cost of long-term care. It is never too late to start planning for Medicaid eligibility!
More questions? Check out our frequently asked questions regarding Medicaid.