When you are making plans to retire, you usually have thoughts of spending time doing the things you enjoy the most. The last thing that may cross your mind is needing long-term care services because of mobility impairment or health issues. However, according to AARP (the American Association for Retired Persons), in 2012, two-thirds of all U.S. citizens over age 65 needed some type of long-term care. The best time to get ready for these expenses is before the need arises. Here is more on planning for long-term care in California.
What are Long-Term Care Services?
Long-term care describes a variety of different services. Those related to assisting an individual with their daily personal living requirements are generally referred to as activities of daily living. These may include home health-care attendant, meal preparation, and transportation services. Long-term care may also mean respite, hospice, and skilled nursing home services.
Affording Long-Term Care
For many people, the most significant barrier to long-term care is affordability. These services can be costly, and paying out of pocket for them is not realistic for everyone’s budget. After reaching 65, you may be Medicare eligible. However, Medicare does not cover the majority of long-term care expenses. The program doesn’t cover any custodial care costs, which includes most skilled nursing care services. Part-time or short-term care assistance in the home may be covered by Medicare but not ongoing services or nursing home care.
Long-Term Care Insurance
Contact a California Estate Planning Attorney
At the Law Offices of Alice A. Salvo, we are experienced California estate planning attorneys who can help you plan for the future. Contact us today to schedule your free consultation.