Are you prepared for how you’ll need to set up your future long-term care expectations? If not, you could be exposing your loved ones. Getting older requires considering tools such as powers of attorney, healthcare directives, and other estate planning documents.
From the possibility of developing mobility issues, chronic diseases, Alzheimer’s or some other condition that prevents you from fully taking care of yourself, you might require long term help with daily activities of living, such as bathing, dressing or eating.
Most seniors don’t have $100,000 set aside to pay for the average cost of one room in a nursing home. The out of pocket cost for such assistance can be catastrophic, and not thinking carefully about how to qualify for Medicaid can lead to big mistakes and challenges.
Many people are under the mistaken impression that Medicaid will support their long-term care needs, and there are also misconceptions about how Medicaid can be used. Medicaid doesn’t pay for assisted living, but does cover skilled nursing care for seniors with lower income.
Establishing your own plan for approaching the future with confidence is important. Sit down with an experienced Massachusetts elder law lawyer to learn what it takes and how you can set up plans for these risks.
