The Costs of the Rising Cost of Long-Term Care
As the U.S. population ages and life expectancies increase, the need for long-term care is becoming an important consideration for many individuals and families.
As the U.S. population ages and life expectancies increase, the need for long-term care is becoming an important consideration for many individuals and families.
Older adults lose an estimated $20 billion each year from financial abuse by family, friends, and caregivers. In many cases, the perpetrators of elder financial abuse are not strangers but trusted individuals, often family members.
Elder law attorneys understand the challenges of planning long-term care amidst the shifting care environment. Evaluating costs and developing strategies to pay for long-term care before you actually need it is crucial.
To qualify for Medicaid, you must have limited income and assets (in most states, no more than $2,000 in your name). If you have more than that, you may find yourself having to “spend down” your extra assets to meet the $2,000 limit.
In 2023, recipients of Social Security benefits saw the biggest increase in decades in their monthly checks. Although their payouts will indeed rise again in 2024, the cost-of-living adjustment (COLA) will be considerably more modest.
Unfortunately, neither health insurance nor Medicare covers long-term care. Medicaid could become your only option, so do what you can to plan ahead.
After losing a spouse or longtime partner, it’s difficult to look past your grief. However, it’s crucial to understand the important and timely decisions you must make regarding your finances and personal estate plan.
Although Medicare funds some home health care services, a recent study has found that Medicare beneficiaries are underutilizing the program’s home health care options.