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Home » Resources » Frequently asked questions » Nursing Home Planning FAQs

Nursing Home Planning FAQs

    • How does nursing home care differ from other types of elderly care?

    • The U.S. Senate Special Committee on Aging explained the difference as follows: “It [long-term care] differs from other types of health care in that the goal of long-term care is not to cure an illness, but to allow an individual to attain and maintain an optimal level of functioning….Long-term care encompasses a wide array of medical, social, personal, and supportive and specialized housing services needed by individuals who have lost some capacity for self-care because of a chronic illness or disabling condition.”

    • What alternatives to nursing home care are available?

    • For seniors who need assistance with the daily tasks of living or who require less extensive medical care, there are alternatives to nursing home care, including home health care, adult day health care, and assisted living facilities.

    • Why is it important to plan for the need for nursing home care?

    • The average life expectancy in the U.S. has almost doubled in the last century. Living longer is certainly good news; however, the longer you live, the greater your odds of needing long-term care. Someone entering their retirement years today stands over a 50 percent chance of eventually needing long-term care (LTC) and those odds only increase the longer you live.  Given the importance of the care you receive and the cost of that care, planning for the possibility that you will need nursing home care should be part of your overall estate plan.

    • How much does long-term care cost?

    • One of the most important reasons to include nursing home planning in your comprehensive estate plan is the cost of that care. As of 2021, the average cost of a year in long-term care is over $100,000 – and Californians can expect to pay considerably more than the national average. Experts tell us that in 20 years the cost will likely double. With an average length of stay of three years, paying out of pocket for the cost of nursing home care can deplete a retirement nest egg.

    • Where can I find information on nursing homes in my area?

    • Doing your homework when searching for a nursing home is crucial to ensuring that the care you, or a loved one, receive is the best possible care. In California, there are several excellent resources available, including the California Department of Public Health and gov (the federal government’s official site for Medicare).

    • What is Medicaid?

    • Medicaid is a healthcare program that is primarily funded by the U.S. federal government; however, it is administered by the individual states. Consequently, the eligibility guidelines and benefits offered can vary somewhat from one state to the next. Most states offer different categories of Medicaid, such as Medicaid for children, for pregnant women, and for the aged and disabled.

    • What is Medicaid planning, and do I need to include it in my estate plan?

    • Nursing home care is expensive. Most basic health insurance plans will not cover the costs associated with long-term care nor will Medicare. Unless you have the resources to cover the cost of nursing home care out of pocket and indefinitely, you will likely find yourself turning to Medicaid for help, like over half of all seniors in nursing home facilities. Medicaid Will help with your nursing home expenses if you are eligible for benefits. To be eligible, you must contend with exceptionally low “countable resources” limits that could put your retirement nest egg at risk if you failed to plan ahead – hence the need for Medicaid planning.

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For additional information relating to nursing home planning, contact the Collins Law Firm by calling (310) 677-9787 to register for one of our FREE estate planning workshops.

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Testimonials

Client Review
August 19, 2020
    

“My mother told me about the Collins Law Group and I must say, the entire experience has been a real pleasure. Although I was nervous at first, the Collins Law Group staff put me at ease with their friendliness and knowledge. I didn’t realize how hard it could be on your family and loved ones left behind if you die without any planning or directions in place for them. My biggest concern was making sure my elderly mother would be provided for and taken care of if something happened to me. I have been a caregiver for her for 12 years, so this planning was crucially important. I had previously made a living trust for myself on Legal Zoom but there is no comparison to the level of service and professionalism that Collins Law Group embodies. Attorney Collins and her staff provides excellent service and it will take a large burden off of my family when they need guidance at the time of my passing.”

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-Ms. Jones

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