Medicaid Proactive Planning

Greer Law’s elder law services work in combination with estate planning tools to help prepare you for long-term care needs and protect assets from being exhausted by healthcare expenses.

Long-term care planning is a legal strategy that helps aging Americans plan for the high cost of different healthcare services as they age. The cost of long-term care often shocks retirees and can place an extreme burden on them or their families. In Colorado’s Denver Metro Area, costs average around $120,000 annually, depending on the level of care. Types of care include assisted living, nursing home facilities, and in-home healthcare services.

Understanding how to pay for long-term care can be overwhelming. Some options for paying for healthcare include long-term care insurance, Medicare, and Medicaid. Long-term care insurance is expensive and should be purchased early when you are younger and healthier. Many feel it’s unaffordable. Medicare is very limited in what it covers for long-term care. Medicaid has strict income and asset rules that must be abided by, and many feel they wouldn’t qualify.