Are you a senior living in Alabama and enjoying retirement? Have you thought about what you would do if you needed long-term care? Or perhaps you have not even thought about long-term care at all. Because you are over 65 and have Medicare as your health insurance you may be thinking that Medicare will take care of any long-term care costs. Also, you may have family members or friends that you are planning to depend on if and when the need for long-term care arises. We would like to take this time and discuss with you more about planning for long-term care in our state of Alabama.
Are you planning for Medicare to cover any long-term care costs you may have? Unfortunately, even if you use Medicare for your health insurance, Medicare will not cover very much in the way of long-term care, whether in a nursing home or in your own home. Even though Medicare is what most senior citizens use for health insurance, it has an extremely limited nursing home benefit. It only covers up to 100 days of care and only in some circumstances. It is definitely not a reliable source of coverage if you end up needing actual long-term care.
How about relying on family and friends? Some seniors may be able to rely on family members to help as they get older, whether an adult child or another relative who can come to your home regularly or who you are able to move in with. However, the facts are that we are living longer these days, and different generations of our family are living in different parts of the country. Therefore, in-person consistent help from family might not be something you can rely on. Also, your children might be raising little ones at the same time you need the most help.
Is there a solution to this long-term care dilemma? Yes. An experienced Alabama elder law attorney should be your first call for a solution. By consulting with an Alabama elder law attorney who specializes in Medicaid planning you may find out whether you qualify for Medicaid or how you may plan to qualify for Medicaid when the need for long-term care arises. Qualification depends on your income and assets at the time of your application for coverage. Keep in mind that the sooner you meet with a Medicaid attorney to help you plan for your future, the better. If you are able to qualify for coverage, Medicaid will cover all nursing home costs you may need in the future.
At the end of the day, estate planning is not just for you. Instead, it is for the ones you love most. If we can answer any questions for you on putting this estate planning in place, please do not hesitate to let us know. For more information, please reach out to our office and schedule a time to meet.