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Long-Term Care

How to Plan & Pay for It

Publication Date October 2008
Edition 7
ISBN 9781413308983
Pages 408 pp
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Description

Get the best care in the right place, for the right price -- this book shows you how!

Finding the right long-term care often means making difficult decisions during difficult times. Long-Term Care helps you understand the alternatives to nursing facilities and shows you how to find the best care you can afford.

With Long-Term Care, you'll be able to:

  • evaluate long-term care insurance
  • arrange home care
  • explore options beyond nursing homes
  • choose a nursing facility
  • get the most out of Medicare, Medicaid and other benefit programs
  • protect your assets, and
  • recognize and prevent elder fraud.

The completely updated 7th edition has an all-new chapter on long-term care insurance and updated coverage of Medicaid. It also includes up-to-date benefit numbers, laws and taxes, and revised information on veterans' benefits.

With sensitivity and clarity, Attorney Joseph Matthews gives you everything you need to help plan for and make the best arrangements for long-term care.

Table of Contents

Your Long-Term Care Companion

1. Making Decisions About Long-Term Care

  • Getting Started
  • Make a Realistic Family Commitment
  • What Can You Afford?
  • Geriatric Care Managers
  • Other Legal and Financial Matters

2. At-Home Care

  • What Is Home Care?
  • How to Find Home Care Services
  • Services Provided
  • Kinds of Providers
  • What to Look For
  • Getting Started
  • Costs of Home Care
  • Financing Home Care Through Reverse Mortgages
  • Cashing In a Life Insurance Policy
  • Supplements to Home Care

3. Organized Senior Residences

  • Independent Living
  • Assisted Living
  • Combination Residential Facilities

4. Nursing Facilities

  • Levels of Care
  • Choosing the Right Facility
  • Your Written Contract

5. Care for Elders With Alzheimer’s Disease

  • The Symptoms and Stages of Alzheimer’s
  • Home Care for Alzheimer’s
  • Residential Care Facilities for Alzheimer’s

6. Hospice Care

  • Medicare Eligibility for Hospice Care
  • Services Provided by Hospice
  • How Hospice Operates
  • Payment for Hospice Care

7. Medicare and Veterans’ Benefits

  • Medicare Coverage for Long-Term Care
  • Veterans’ Benefits for Long-Term Care

8. Medicaid Coverage for Long-Term Care

  • Eligibility for Medicaid
  • What Medicaid Pays For
  • Finding Out About Medicaid in Your State
  • If You Are Denied Medicaid Coverage

9. Medicaid, Nursing Homes, and Asset Protection

  • Medicaid Rules on Transfer of Assets
  • Strategies to Protect Your Assets

10. Protecting Choices About Medical Care and Finances

  • Health Care Decisions
  • Financial Decisions
  • Guardianships and Conservatorships

11. Long-Term Care Insurance

  • Is Long-Term Care Insurance Right for You?
  • Finding Long-Term Care Policies
  • Warnings About Insurance Practices
  • Eligibility for LTCI
  • The Cost of Premiums
  • Kinds of Care the Policy Will Cover
  • Benefit Amounts and Length of Coverage
  • How Much Coverage You Need
  • Inflation Protection
  • “Triggers” That Start Your Benefits
  • Coverage Conditions and Exclusions

12. Elder Fraud

  • Why Elders Are Targets
  • Who Commits Elder Fraud
  • Types of Elder Fraud
  • Where to Get Help

A. Appendix: Resource Directory

  • Aging, State Agencies
  • Alzheimer’s Disease Organizations
  • Caregiver Support Groups
  • Home Care, Community Programs, and Senior Residences
  • Hospice Organizations
  • Insurance—Long-Term Care
  • Legal Assistance
  • Medicaid Assistance
  • Nursing Facility and Alternative Residence Organizations
  • Ombudsman Offices
  • Reverse Mortgage and Home Equity Conversion Assistance
  • Life Insurance Settlement Assistance

Index

Sample Content

  • : Making Decisions About Long-Term Care

Introduction

All of us have to face the uncomfortable fact that, one day, we or our family members may need some kind of expensive long-term care. Most older people, even if they remain basically healthy, develop physical or mental frailties or impairments that at some point prevent them from living completely independent lives.

More than five million older people in the United States receive some form of daily care at home, provided by someone from outside the family. Millions more receive regular care, though not on a daily basis. And still more millions receive at-home care entirely from family members -- who may not be able to continue that care indefinitely. Nearly two million people over age 65 live full-time in some type of nursing facility or other residential care facility, at a cost of between $30,000 and $150,000 per year. Of people over 65 in nursing facilities, about 15% to 20% will live there for longer than a year and about 8% will live there for more than three years. The average stay for people living in assisted living facilities is about 28 months.

Medicare, which some believe pays for medical care for everyone over 65, in fact pays for only about 10% of all nursing facility costs, a smaller fraction of all home care costs, and nothing at all for long- term care. Medicaid, the federal government program which pays medical costs for the financially needy, pays for about half of all nursing facility costs, but you have to spend most of your personal assets before you become eligible for coverage. And while Medicaid pays for residence in a few assisted living, shelter care, or residential care facilities, most of this cost must be paid with private funds.

These statistics convey an urgent, unsettling message: Many of us will need long-term care -- and the government is not going to foot much of the bill. This book can help you prepare for what the future might bring by presenting the alternatives you need to consider. The more physically, emotionally, and financially prepared you are, and the more you are in control of your own life, the better off you and your family will be.

What Is Long-Term Care?

As used in this book, "long-term care" means regular assistance with medical care (nursing, medicating, physical therapy) or personal needs (eating, dressing, bathing, moving around) provided by someone outside an older person's family. There are many varieties of long-term care -- ranging from part-time home care and adult day care, to independent living and assisted living residential communities, to personal care residences and nursing facilities. Some long-term care is temporary -- for example, just long enough to help an older person recover from a broken hip or a stroke. Often, though, once begun it lasts for the remainder of an older person's life.

Threshold Issues of Long-Term Care

An older person's debilitating condition may be only partial -- such as failing hearing or eyesight, memory loss, or weakness in arms or legs. Or it may be extreme -- such as the effects of a major stroke or heart ailment, overall frailty, or the later stages of Alzheimer's disease. Whatever the specific nature of the impairment, you will have to face a number of difficult questions:

  • What kind of care is needed?
  • Who will provide it?
  • Where will it be provided?
  • How much will it cost?
  • Who will pay for it?

Attempting to answer these questions will require you to negotiate a number of minefields: Finding the right level and amount of care, avoiding unnecessary institutionalization, understanding complicated Medicare and Medicaid rules, considering private long-term care insurance, and -- importantly -- paying for the high cost of care without losing every cent you have.

If the elder is unable to arrange for the care needed, or is not fully aware of the need for care, the burden of providing care may fall heavily on other family members. Spouses and grown children often must take on major if not total responsibility for organizing and paying for long-term care. This book is a guide not just for the elder who needs long-term care, but for all those who will participate in organizing, providing, and paying for that care. The book explains financial planning for long-term care: What costs Medicare and Medicaid cover, whether to buy long-term care insurance, and how some of an elder's assets might be protected from long-term care costs. The book emphasizes the need to explore the many available care alternatives and it guides you in choosing home care, a residential care facility, or a nursing facility if that becomes necessary.

The book also shows how you can help ensure that the elder's wishes for medical procedures and property management are followed if he or she can no longer make decisions alone.

How This Book Can Help

Many people, at many different stages in the process of deciding how and where to get long-term care, will find guidance in this book. Below are examples of situations where long-term care questions frequently arise and where you can find answers to these questions in this book.

If your parent, grandparent, or other older relative is no longer able to live a fully independent life, and you have to figure out where additional care will come from, where your elder relative will live to receive that care, and who will pay for it and how.

In Chapter 1, we explain how a geriatric care manager can organize a program of care for your relative. This may be particularly helpful to you, especially if the elder lives in a different city or state from you. In addition, Chapters 3 and 4 discuss in detail how to choose the right kind and level of elder housing or nursing facility for your relative, and how to make sure the facility will provide a comfortable and humane residential setting. Chapter 5 provides information on meeting the special needs of those who have Alzheimer's disease and similar conditions. Chapter 6 explains how hospice care can be a comforting alternative to continued medical treatment for the terminally ill. Chapter 12 discusses how to protect against elder fraud and financial rip-offs of vulnerable elders.

Chapters 7 through 9 explain how much you can expect Medicare, Medicaid, and other government programs to pay for long-term care, and how much income or other property your relative will be able to retain or transfer to others. Throughout the book, you will find referrals to agencies and organizations that can provide detailed information and assistance about specific long-term care needs. You can find all of this information collected in the Resource Directory in the appendix of this book.

If you are over 50 years old, or if you are helping an older family member, and you want to plan to protect a home and other assets from the potential financial disaster of long-term care.

In addition to the chapters on Medicare and Medicaid financing, you will find several other chapters particularly valuable. Chapter 9 explains how to make long-range plans that will protect some of your assets from future long-term care costs. Chapter 10 explores ways to preserve your dignity and retain some control over your life and property when you are no longer physically or mentally able to handle all of your own affairs. Chapter 11 describes in detail the definite risks and potential benefits of private long-term care insurance and it discusses which policy terms are most important to consider.

If your spouse or partner has personal or medical needs that the two of you are no longer able to handle without outside help, whether or not your spouse or partner has recognized the need.

In Chapter 2, you will learn about how home care may permit you both to remain at home and get the care you need. Chapter 3 discusses the kinds of residential alternatives in which you might both live and receive the care you need with more comfort, but at much less cost than a nursing facility. Chapter 5 addresses the particular problems faced by those whose spouse or partner has Alzheimer's disease or a similar form of cognitive impairment. Chapters 8 and 9 describe how the Medicaid government assistance program might help pay for one spouse's care while leaving the other spouse with some income and assets.

If you increasingly find that you cannot manage all your own personal or medical needs without outside assistance and now you need to organize long-term care.

Chapter 2 introduces the many kinds of care available to you at home as alternatives to entering a nursing facility. Chapter 3 discusses the kinds of housing available for seniors that might provide the right level of assistance for you without the tremendous expense and unnecessary restrictions of a nursing facility. Chapter 1 explains how a geriatric care manager can help you start making care arrangements.

Legal Updates

Here are summaries of important legal or procedural changes that affect the latest edition of this product. If you'd like to check the accuracy of any other information in this product, please follow the legal research instructions on this page.

Whats New in the 7th Edition of Long-Term Care

Overview of What''s New

Chapter 11 -- Long-Term Care Insurance is completely revised.

All eligibility rules for Medicare and Medicaid have been updated.

Also, the new edition contains new information about:

  • veterans' benefits
  • family guarantees
  • paying family members for home care
  • Medicaid coverage for assisted living facilities
  • Medicaid asset transfer rules, and
  • Medicaid annuities.

Who Needs the New Edition?

You Need the New Edition If:

you're ready to make decisions about long-term care and you need the most accurate and up-to-date information.

Chapters Most Affected

Chapter 4 -- Long-Term Care Facilities
Chapter 7 -- Medicare and Veterans' Benefits
Chapter 8 -- Medicaid Coverage for Long-Term Care
Chapter 9 -- Medicaid and Asset Protection
Chapter 11 -- Long-Term Care Insurance

Forms That Have Changed

This book contains no forms.