I am normally a “glass is half full” kind of person, but lately it’s been more difficult to see things that way. After being in the Assisted Living arena this year I can see that changes need to be made. My wife, Aimée, and I just finished putting together databases which show how very few options there are for care when you don’t have a lot of money.
Long term care solutions take careful planning. Even if you have saved, the amount of money needed for care can be used up quickly. The best option is to plan ahead and pay for a year or two of private-pay care to give you more options for the kind of assisted living facility you would really like for your loved one.
If there is not careful planning, the last stop is the Medicaid nursing home. While some of these nursing homes give very good care, there are more options with a year or two of private pay before going on Medicaid. If you are fortunate and have a lot of money, that’s great, but your resources still need to be protected. A special-needs trust can also help with estate planning in order to provide money for extras after going on Medicaid.
The long term planning talk with loved ones is not always the easiest topic to discuss. Get good guidance and talk to your loved ones often telling them you want the best for their long term care!
Todd Stork – Your Senior Placement Advocate
Go Care Now