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Home / Long-term care / Things You Need to Know About Long-Term Care

Things You Need to Know About Long-Term Care

January 5, 2022 by Brandon McGee

What does the phrase “long-term care” mean to you? Do you understand how it could impact you or a loved one in the future? Do you have a plan in place for protecting yourself to the best of your ability?

There are many details associated with long-term care, but when it comes to planning these three deserve your immediate attention.

It Comes in Many Forms

There’s more than one type of long-term care. For example, nursing homes, assisted living facilities, and in-home care are among the most common. These vary in a number of ways, so it’s important to understand the finer details.  

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Tip: If you or a loved one requires long-term care, take guidance from your medical team as to which type is best.

It’s Expensive

No matter the type of long-term care or where you live, it’s expensive. And that’s why you need to plan as far in advance as possible. Here’s an eye-opening excerpt from U.S. News & World Report:

The national annual median cost of care now ranges from nearly $106,000 for a private room in a nursing home to $19,240 for adult day health care services (based on five days per week per year). A semi-private room ran $7,756 a month, or $93,075 per year.

So, if you don’t have a long-term care plan in place, your assets are at risk.

Don’t Rely on Medicare

Don’t confuse Medicare with Medicaid. Medicare will cover some of your long-term care expenses, but you can’t expect this government program to provide you with everything you need.

Medicare covers up to 100 days of care in a skilled nursing facility each benefit period. After that, you’re on the hook for payment.

Do you have questions or concerns about long-term care planning? Contact us for professional guidance and to create a plan that suits you and your family.

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Brandon McGee
Brandon McGee
Brandon McGee enjoys a successful law practice focusing on estate planning, elder law, Medicaid preplanning and crisis planning, and probate. Brandon and his team combine legal skills with compassion and understanding to develop estate plans that are personalized to the needs of each of their clients.
Brandon McGee
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Filed Under: Long-term care

About Brandon McGee

Brandon McGee enjoys a successful law practice focusing on estate planning, elder law, Medicaid preplanning and crisis planning, and probate. Brandon and his team combine legal skills with compassion and understanding to develop estate plans that are personalized to the needs of each of their clients.

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Client Review
May 25, 2021
    

Brandon McGee is knowledgeable, experienced and professional regarding Estate Planning. The entire process of multiple meetings to establish our input, draft and sign documents and fund the Trust were well organized and clearly explained. At completion, we were presented with a very well organized binder with the documents (both paper and electronic) and lists for future action.  In short, we find Brandon McGee and his staff to be competent, professional and friendly. ~ Brian C.

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