According to the U.S. Government, a 65 year old has almost a 70 percent chance of needing some level of care during their lifetime.
The financial cost associated with assisted care is always daunting and for some people is devastating. There are limited options to deal with the cost, each one with its own challenges:
- Depend on family (exhausting);
- Rely on a long-term care insurance policy (limitations & premiums);
- Pay out of pocket (resources);
- Qualify for public assistance through Medicaid/SSDI/SSI/VA (restrictions); or
- Some combination of the above (confusing).
Elder law attorneys (and other advisors) help make sense of the options and guide families as they navigate care needs, family dynamics, financial realities and legal hurdles. Ultimately, however, better solutions are needed on a national level to insure quality care, at every level, for each person who joins the growing number of seniors needing assistance with personal care.