Home health care is a significant issue now and is expected to be well into the future. Every day, 10,000 Americans turn age 65 and the pace for health care related jobs is growing at a significant rate, expected to increase by up to 18% through 2026. Understanding the labyrinth of health care options and making sure that you have an appropriate estate and elder law plan to help you accomplish your goals is critical.
While some older adults may be able to rely on friends and family members for the home health care they need in their elderly age, others might need support or have more advanced medical concerns that require practically constant attention. Paying for in-home care out of pocket could be extremely expensive and decimate your savings quickly.
The option to buy long term care insurance is not always a true choice for a consumer because it can be very expensive with premiums of up to $4000 per year. While there are government programs like Medicaid that can help you to pay for nursing home care, it is important to understand what Medicaid does and does not cover and how to appropriately qualify for this form of support.
Advanced planning is often necessary with the support of an experienced and dedicated elder law attorney. Schedule a consultation today if you have questions about home health care, establishing an elder law care plan or integrating your elder law plan with your estate plan. For support, speak to a Massachusetts elder law attorney.
