4 Ways to Cover the Cost of Long-Term Care

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Buy a long term care policy. Even if it only covers half the expenses it's better than nothing.

Kirk of NJ 3:58PM October 13, 2010

I just returned from my quarterly visit to my father in a nursing home. It is in another state, so I have to space out my visits. He was out of our lives for many years, but I was contacted when he became very ill and needed full time care. He had savings but no one knew and he was being treated as an indigent. I had to hire a lawyer, obtain guardianship and get a conservator appointed. I stay out of the money part of it - aaves fighting with siblings.
Hardest part is making decisions - life changing decisions for someone else who always was a very independent person. How do you decide on whether to have a very invasive surgery for a potentially life threatening issue? Key word is "potentially" . Do I wait until it is life threatening? what are the moral choices here?
Bottom line - this is difficult and heart wrenching.

Devoted Daughter of FL 9:20PM March 21, 2010

This article doesn't mention two important ways of paying for long-term care. One is through the Veterans Aid and Attendance benefit, a special pension that is avaialble to qualified veterans across the country. The main requirement is that a veteran must have served on active duty, at least 90 days, at least one day of which occurred during a period designated as wartime. I have additional information about this on my website at http://www.VirginiaElderLaw.com/Veterans-Aid.htm.
Another important method of paying for long-term care is through Medicaid Asset Protection with an experienced Elder Law Attorney. By working with a good Elder Law Attorney at the time that nursing home care is needed, families facing nursing home care can legally and ethically shelter significant assets and qualify earlier for Medicaid, so that Medicaid then pays the bulk of the nursing home bills. How much can be protected through Medicaid Asset Protection varies from client to client and depends on the specifics of each situation. However, for a single or widowed client, a good Elder Law attorney can typically protect between 40% and 70% of the nursing home resident's assets. For a married couple with one spouse who in a nursing home and one who is still healthy, 100% of that couple's assets can generally be protected in most states. And remember -- these estimated percentages apply if your loved one is already in a nursing home or about to go into a nursing home.
It is difficult for consumers to identify lawyers who have the training and experience required to provide expert guidance during this most difficult time. Nursing home planning, Medicaid planning, asset protection planning, and estate planning are all services provided by Elder Law
Attorneys. Consumers must be cautious in choosing a lawyer and
should always carefully investigate the lawyer’s credentials.
The most important and most widely-recognized credential in the
field of elder law is the CELA (Certified Elder Law Attorney)
designation. The CELA designation is administered by the Board
of Certification of the National Elder Law Foundation, which is the only organization accredited by the American Bar Association to certify lawyers in the specialty area of elder law. Among the numerous criteria required for certification, CELAs must pass a rigorous full-day certification examination and receive favorable peer reviews from at least five other attorneys familiar with their competence and qualifications in elder law. CELAs also must have, during the 3 years before certification: handled at least 60 elder law matters with a specified distribution among 12 different areas of elder law and participated in at least 45 hours of continuing
legal education in elder law. Consumers can locate a CELA in their area by visiting www.nelf.org.
For those aging but still healthy, another Medicaid planning option is the Living Trust Plus(TM). Information on this strategy is at http://www.livingtrustplus.com.

Evan H. Farr, Certified Elder Law Attorney of VA 12:07AM February 11, 2010

My Dad is 87 yrs old, mother is 86. My Dad is a retired TX Ranger waw always in good health and took care of it. He fell ill & on dialysis 3 yrs ago, drove himself to dialysis and had to have someone come into sit with mother 15 hrs a week while he was on dialysis becasuse she has dementia/alzhimers.
On April 24th, 2009 he had a heart attack. First one, in fact had not been in the hosp. in 35 years. 2 Weeks later 2nd heart attack, and 2 weeks later fell and broke his hip.
In between heart attacks & hip fracture we spent pretty much May & all of June in the hosp. My mother was at home 100 miles away with 24 hour a day care at the cost of $5,000 a month and that is with only babysitters/not qualified nursing care. That of course does not include, food, lights, water, etc...With my Dad very ill in the hosp & level 4 heel wound received in hosp. I teach & am not retirement age at this time. No one else to help I decided to take action.
First, GET Power of Attorney for your parents Financial & Health while they are still in their right minds. My Dad had already done this 3 years ago when he went on dialysis. He said when I cannot speak and reason you must do what is right for me. This is a "TRUST" contract between children & elder parents.
This made the next steps much easier. I read about ELDER care Attorneys in a brochure there at the hosp. They said they could protect the eldery from nursing home costs. I contacted,
Ladymann Law Services of Abilene, TX Elder Care Attornies. Then, immediately they begin to send me on a journey or financial relief for my parents. I've worked with a paralegal from their office over the phone and email. This action was protect my parents home, retirement and nest egg from being destroyed by their illnesses. All the years they paid huge taxes benefits them now as they still pay more than 30% on my Dad's retirement income. He was a hardworking ordinary middle class man that paid every debt he had on time.
It did cost $7,500 dollars right off the bat but by Sept. 1 $4,200 was saved for my parents and now 6 months later that $$ has turned into a $10,000 savings for my parents.
This law service helped me through the maze of nursing home, Meidcare and Medicade. My Dad does have retirement, mother has none. Medicare recommended that Dad be placed in a nursing home facility with 24 hr day care and the law service found a law on the books that said if this couple enters the nursing home on the same day and said caretaker of alzhimer's patient is ill, alzhimers's patient could apply for Medicade benefits if her only income was Social Security & home.
Anyway, I have followed their directions exactly. Both of their conditions have improved with skilled nursing care. My Dad is private pay, about $6,000 a month and mother is on Medicade which only pays for her care which is $4,200 a month. I recommend get professional help. My Dad will spend his & mom's saving on HIS care.

anyomyous of TX 11:53AM January 27, 2010

I can identify with so many of the comments made in regards to the treatment and confusing verbage thrown at the elderly and those disable requiring hospital visit, rehab and more which can eventually lead to long-term. Not to mention the emotional rollercoaster one rides as I can only imagine a person must feel like "This is just the last step to the end of life" as they stare off into space with that blank look of nothing in their eyes taking in a deep breath and letting out a heavy sigh, all the while feeling a heavy weight unlike any other becoming part of who they are. Again, I can only imagine a person thinking, "So, this is how my life will end...here...like this a burden, in the way, hard to deal with, headache. I don't want anyone feeling sorry for me! I don't want pity! I don't want...I don't...no, I never thought it would come to this...I once was a good person, I was once laughed and loved, was cared about and I cared for others, I still do. Why is this this way? There is nothing I can do zccept live with this and accept things as they are....so I will but won't make a differnce, accepting things as they are or hating and not wanting this world, I still wish I could leave this world now...RIGHT NOW! I love my family so, I really do but it's time, time for me....reality is--it is time for me to sit and wait, wait to detoriate and eventually die. No, money, no friends (true or at least any that can just come by and stay awhile...this is a long term care facility not my home) When I was young I dreamt of living my last days just like I am today...lonely, hurt and sad, a burden to all even though I am told that I'm not. I know how much work I am, I can see what it takes to care fo someone like me. When I was a child and as I continued to grow I dreamt of life with laughter and enjoyed the challenges life held for me. I never, not once, did I see the truth that life holds for those of us without money, those of us in the middle class world that life holds nothing but sorrow, pain and debt, that all my hardwork, striving for "more" and learning how to be happy only to end up in a "long-term care facility" aka: nursing home with the smells and all that come with living with 300 others, 4 to a room with everyone rooms door open 24/7 listening to death cough, flem filled thoarts, tears of pain, cries into the night--cries of pain or is that cries of fear? Yes, life lied to me because happiness was never something that I could find. No happiness was never intended for me the middle class, poor class person. Dignity and joy is not for this class of people it seems it is only for those who can pay their way end to death and the beyond.

Lisa of CA 9:23PM January 06, 2010

My mother went into a nursing/rehab facility back in March. I told them from the day she went in she would have to stay as I myself am disabled and cannot care for her at home and it was determined that she could NOT live alone on her own. I informed whomever I could talk to that the paperwork for her check to come to them and any other financial assistance she qualified for should be filed asap so it would be in effect when her term of rehab was up. Now the nursing home is sending ME bills for over $5,000 to cover the time that her check was not direct deposited to now, and it's November and the check STILL isn't going to them. I just got notice of this bill about a month and a half ago. In the meantime, I was getting her clothes, she wanted a recliner for her room, and different other items she wanted AND required. There isn't any money hidden anywhere, it went for things she told me to do with it. I have NO POA of my mothers assets and if I had known of this situation months ago, I would have been writing a check to the home to cover what was deposited for her. Instead they want to wait til it's impossible to pay this amount to say anything. What now? Do I need to look for another place for my mother? I am disabled in a wheelchair, don't drive and can't just go place to place to check them out. I know I myself can't pay this. I have a 16 year old daughter. I get no other assistance except a medical card for her. No food stamps, no child support, nothing. We live from check to check. What are my options????

Tammy Shadoan of KY 5:23PM November 12, 2009

My Aunt is 97 now And has been in a subsidized
housing apartment. She now needs to find a nursing home. What can she do?

Elizabeth Peck of WI 12:11PM November 01, 2009

My poor aged, sick elderly Mother was thrown out of the Rehab she was in after falling & having hip replacement surgery almost 2 months ago, she has end stage emphysema and many other illnesses, weighed 73lb. @ the time of the fall, very ill, anyway after less than 30 days at the Rehab they announced that she would have to be moved (ASAP) either home (yeah right) or to a Nursing Home which I promised her would NEVER happen, problem is she can't yet walk and is in need of way more rehab, also what was mild dememtia is now full blown dememtia in less than 2 months since the surgery & being in the rehab & nursing home, My Mom must go on Medicaid now so anything she worked so hard for and paid for like her 3 small life Insurance polices will be taken by Medicaid to pay for this horrible home she is in, how am I suppossed to pay for her funeral when they take the money from the life Insurance??? They don't want you to have anything but leave you to suffer & then die with NO dignity in such a awful place like most nursing homes after saving & preparing your whole life for your family or yourself, I hate our goverment and how they treat people at the end of life and the aged, SHAME on Medicare & Medicaid for stripping our loved ones of money & dignity @ the end of life!!!!!!!!!!!!!

JoJo of NJ 8:20PM August 18, 2009