According to the Administration for Community Living, someone turning 65 today has nearly a 70% chance of needing long-term care service in their remaining years. With so many Americans possibly needing long-term care, you would think more people would scramble to put together a long-term care plan.
But, according to research by The Associated Press NORC Center for Public Affairs Research, 65% of people age 40 or older have done little long-term care planning.
To ensure your later years are as good as the ones before, you should start planning. Learn how Rooth & Rooth Elder Law Attorneys can help you prepare for your future.
What Is Long-Term Care?
Long-term care encompasses various services meant to meet a person’s health and personal care needs, either for a short or long period of time. These services help people — typically older adults — live as safely and independently as possible.
Depending on your needs, long-term care is provided in different places by different caregivers. There are multiple types of long-term care options available to fit any patient’s needs.
Types of long-term care
Some different types of long-term care include:
- Home health care
- Friendly visitor and senior companion services
- Senior transportation services
- Homemaker and personal care services
- Emergency medical alert systems
- Independent living facilities
- Assisted living facilities
- Nursing home facilities
What is long-term care insurance?
Long-term care insurance may cover long-term care services, including custodial and personal care in various settings such as a community organization, home, or other facilities. These insurance policies pay for or reimburse policyholders a daily amount for services to assist them with everyday activities like dressing, eating, and bathing.
Depending on the plan you choose, you have multiple options to get the services you need wherever you need them.
Planning Long-Term Care
Many Americans choose to never plan for long-term care because they feel they will never need it. And maybe you won’t ever need it. But an unexpected illness or accident could change your needs in the blink of an eye.
The best time to start your long-term care plan is before any problems arise. Planning ahead allows you to learn about all the services available to you and their costs. Making these critical decisions while still having the cognitive ability to make your own choices will help give you more freedom in your later years.
Steps to planning long-term care
The best way to create a long-term care plan is by making it a part of your total estate plan. The steps you need to take to create a beneficial long-term care plan include:
- Gain an understanding of the total cost: Long-term care costs vary greatly depending on the services you may need. Your cost can vary depending on your geographic location, care setting, level of care required, and many other things. The average cost of in-home homemaking services in 2020 was $59,488, with the price going up to $61,776 if you need a home health aide. The average yearly cost to stay in an assisted living facility in 2020 was $54,000. If you choose to live in a nursing home, the price will likely increase. The average yearly price for a private room in a nursing home in 2020 was $108,405.
- Take an in-depth look at your available resources: After evaluating your financial resources, you should better understand what kind of long-term care you can afford.
- Contact a long-term care professional: It’s wise to contact an experienced attorney to help you get your estate in order as part of your long-term care plan. Once your estate is in order, you can feel confident making your decision about what type of care you may like to receive if you need assistance in the future.
- Choose your ideal form of care: While this plan may vary depending on your health, having an idea of your ideal form of care, whether at home or at a facility, can make the decision and transition easier, if the time comes. Many clients choose to start with at-home care, and if their health worsens, transition in to an assisted living facility or nursing home.
Hiring a Long-Term Care Attorney
Hiring a long-term care attorney can make your planning process smoother and more secure. Ryan P. Rooth and Susan A. Rooth are experienced attorneys, with more than 40 years of experience working in elder law.
Areas of expertise
Rooth & Rooth Elder Law Attorneys’ areas of expertise include:
- Special needs trusts
- Medicaid planning/applications
- Veterans benefits
- Qualified income trusts
- Family conferences
Long-Term Care Attorney FAQs
Do I need a long-term care attorney?
While you don’t need a long-term care attorney to create your long-term care plan, an attorney can help ensure you control who you appoint to assist you with all the major decisions pertaining to your finances and medical care if, for some reason, you are one day unable to make your own decisions. Long-term care attorneys are also knowledgeable about the entire process and can help you configure a care plan that will ensure you are comfortable in your later years.
When should I start thinking about long-term care?
You should start thinking about long-term care in your forties. And if you are over forty, you should start creating your long-term care plan right away.
Meet With a Long-Term Care Attorney
The long-term care attorneys at Rooth & Rooth Elder Law Attorneys proudly represent clients in and near Clearwater & Seminole, Florida.
Because of our team’s experience, we can help you create a long-term care plan, no matter your specific needs. We can visit you at home, in nursing homes, or in assisted living facilities in the area, if needed.
Contact us today to learn how we can help you create your long-term care plan.
