Long-term care refers to a wide array of services and support systems tailored to address health and personal care needs over an extended duration. This type of care primarily involves personal assistance, which includes everyday activities known as Activities of Daily Living (ADLs). These activities may include bathing, dressing, eating, and maintaining personal hygiene. The overarching aim of long-term care services is to foster and preserve an individual’s independence and overall functioning, particularly when they struggle to manage independently. However, long-term care services can be expensive, and many families struggle with the costs.
How To Pay for Long-Term Care Benefits?
Long-term care services, which can include assistance with daily activities and medical care, often come with a hefty price tag. Many individuals and families face significant financial burdens when trying to secure the necessary care. However, there are various options available to help manage these costs:
Private Pay
Private pay refers to financing long-term care entirely from savings or assets. This approach is typically chosen by individuals who have accumulated significant wealth or resources, allowing them to cover care costs without relying on insurance or government assistance. This method provides flexibility in choosing care services and providers but can quickly deplete financial resources.
Long-Term Care Insurance
Long-term care insurance is a specialized policy that helps cover the costs associated with long-term care services, including assistance with daily activities, skilled nursing care, or in-home services. These policies can be purchased from private insurance companies and generally require regular premium payment. Planning ahead for this type of insurance can be beneficial, as premiums tend to be lower when purchased at a younger age.
Medicaid
Medicaid is a government program that serves low-income individuals, providing access to necessary healthcare services, including long-term care. Eligibility for Medicaid varies by state, and in Louisiana, it is determined based on both income and asset limits. Applicants must meet specific criteria, ensuring their financial resources fall below a certain threshold. This program can cover a wide range of services, including nursing home care and in-home health assistance, making it a crucial resource for those who cannot afford private pay options.
How Can a Lawyer Help with Medicaid Long-Term Care Benefits?
An experienced elder law attorney can play an important role in helping individuals qualify for Medicaid long-term care benefits.
They Understand the Financial Situation
These lawyers can assess your financial situation and assets. This allows them to develop a tailored strategy that maximizes your eligibility for benefits. By strategically managing your assets—such as arranging transfers, establishing trusts, or making appropriate spend-downs—they can help ensure you meet the Medicaid requirements without sacrificing your financial security.
They Can Identify and Address Potential Issues
These attorneys can carefully identify and address any potential issues or discrepancies in your application. This proactive approach minimizes the risk of delays or denials that could arise during the approval process.
They Can Handle Denials
If your long-term care benefit application is denied, the attorney can represent you during the appeals process, fighting to secure the benefits you deserve. More importantly, their experience and skills can make a significant difference in the outcome of your case.
Overall, the support of an elder law attorney not only helps you navigate the complex Medicaid landscape but also ensures that you receive the necessary long-term care while safeguarding your remaining assets for your future needs and those of your family.
Contact Losavio & DeJean Today To Learn More About Long Term Care Benefits
If you want to learn more about Medicaid long-term care benefits and how our legal team can help you qualify, contact Losavio & DeJean today.