Over half of the elderly population will eventually require paid long-term care. As elder law practitioners, we are aware that nothing is less pleasant than contemplating a day when you may be too disabled to make decisions for yourself. Yet putting together a formal plan now, while everything is going well, comes with a variety of benefits. Speak with an experienced Long Island elder law attorney before making significant decisions.
At Schlessel Law PLLC, our attorneys are dedicated to providing compassionate and comprehensive legal guidance to elders and their families. We can assist seniors with comprehensive long-term care planning, aiming to protect their assets and help ensure that their healthcare and financial needs are met in the years to come. While there is no set age to contact an elder law attorney, planning early for long-term care can be beneficial. Call us today at (516) 574-9630 to schedule a consultation and start planning for your future.
Here’s everything you need to know about putting together a long-term care plan.
The Benefits of a Long-Term Care Plan
A plan helps you communicate your wishes and needs to your loved ones.
If your spouse is healthy, then putting a plan in place can help them maintain control if you prefer that to giving your adult children control.
This also gives you the opportunity to pre-vet care facilities and services. You can provide your loved ones with a list of care providers you trust so they can choose from your list of pre-approved caregivers when the time comes.
Long-Term Care Options for Long Island Residents
Long Island residents looking for long-term care have several options to consider, depending on their needs and preferences. Nursing homes, while an option, are often the most expensive and may not deliver the best outcomes. Costs for nursing homes on Long Island range from $96,360 to $142,350 per year, with an average stay of 2.5 years. Given the high costs and potential drawbacks, other options may be more appealing.
In-home care is frequently preferred by many. This can involve hiring a professional caregiver or using services such as adult daycare to alleviate some of the caregiving responsibilities from family members and friends. To elaborate, adult day care centers provide group supervision in a community setting, focusing on social and recreational activities, and can also offer health services when needed. These centers allow seniors to stay engaged and active during the day while returning to their homes in the evening.
The average cost for an in-home caregiver is $23,400 per year, while adult day care costs around $19,500 per year. Typically, seniors may require this type of care for three to five years. It’s important to note that these figures cover care costs only and do not include housing, food, or utilities. Medicaid is available to cover all three types of care, but it comes with strict income limits. Consulting with a Medicare lawyer can help protect assets when relying on Medicaid.
Relying on an informal caregiver, such as a friend or family member, is another option. However, it can place a significant financial and physical burden on the caregiver, making it a less-than-ideal choice.
Assisted living is a great choice for seniors who require help with daily routines but do not need constant supervision. These facilities provide room and board, case management, and access to nursing services through outside agencies. This setup allows residents to maintain a level of independence while receiving the support they need.
Respite care offers a valuable option for Long Island residents needing short-term relief for primary caregivers. It allows caregivers time to rest, travel, or engage with other family and friends. This helps support the well-being of caregivers while ensuring that loved ones continue to receive the necessary care and attention. Incorporating respite care into their plans can maintain a healthier balance between caregiving responsibilities and personal time for families.
For those facing terminal illnesses, hospice care provides compassionate support either at home or in a hospice facility. This care focuses on comfort and quality of life for individuals with a life expectancy of six months or less. Hospice programs offer comprehensive care that addresses physical, emotional, and spiritual needs, supporting both the patient and their family during a challenging time.
Each of these long-term care options addresses different aspects of senior care, enabling residents of Long Island to find a solution that meets their specific circumstances. With an understanding of these options, families can make informed decisions that best support their loved ones’ health and well-being.
| Long-Term Care Option | Description |
|---|---|
| Nursing Home | Expensive option with potential for poor outcomes. |
| In-Home Care | Preferred option, including professional caregiver or adult day care services. |
| Informal Caregiver | Option involving a friend or family member, but can be financially and physically demanding for the caregiver. |
Planning for Nursing Home
Long-term care options in New York, including nursing homes, assisted living facilities, and home health care, can place a significant financial burden on individuals. The annual cost of nursing home care in New York is higher than $150,000 on average. Unfortunately, private health insurance policies and Medicare typically do not cover long-term care, and only a small percentage of individuals invest in private long-term care insurance.
For New Yorkers in need of long-term care, Medicaid is the primary source of funding. Over 70% of nursing home residents in New York depend on Medicaid to cover their care expenses. Seniors aged 65 or older, individuals with disabilities, and those who are blind may be eligible for Medicaid coverage for nursing home stays if they meet certain income and asset criteria and require skilled nursing care. It’s important to note that New York’s Medicaid regulations mandate nursing home residents to contribute nearly all of their monthly income towards the cost of their care, allowing only a particular amount per month for personal expenses.
If you are considering long-term care in a nursing home, the staff will gather your health information and assess your health condition to develop a personalized care plan. If you have the ability, you or, with your consent, your family or a designated representative have the right to actively engage in care planning with the nursing home staff. The fundamental care plan includes the following components:
- Initial health assessment: A comprehensive review of your health condition that is conducted upon admission and must be completed within 14 days.
- Subsequent health assessments: Health assessments must be conducted at least every 90 days following the initial review, and more frequently if your medical status changes.
- Ongoing assessments: Regular evaluations of your health status to identify any changes, with corresponding adjustments to your care plan as necessary.
Nursing homes are obligated to report this information to the federal government, which is then utilized for quality assessments, nursing home payment evaluations, and state inspections. Depending on your specific needs, your care plan may include the following:
- Personal and healthcare services required.
- Appropriate staff members responsible for providing these services.
- Frequency of service provision.
- Necessary equipment or supplies, such as wheelchairs or feeding tubes.
- Dietary requirements, including any special diets and preferences.
- How the care plan will aid in achieving your goals.
- Information regarding the possibility of returning to the community, along with a plan to support that objective.
Actively participating in the care planning process can help ensure that your individual needs and preferences are considered, leading to a more effective and personalized care experience during your nursing home stay. For further assistance, a Long Island elder law attorney can guide you through the care planning process, offering professional support and advocating for your rights.
Long-term Care Payment Options in New York
When planning for long-term care, payment is an important consideration. Long-term care planning can be daunting, so it is recommended to consult an experienced New York elder lawyer before you start the process. Here are some of the common long-term care payment options:
Medicare
Medicare pays for skilled services or rehabilitation care in a nursing home for a maximum period of 100 days, along with other skilled in-home health services. However, Medicare won’t pay for non-skilled help with daily living activities, which make up the majority of long-term care services. These expenses must be paid out-of-pocket if they aren’t covered by any private or public insurance.
Medicaid
Medicaid is available for long-term services. However, eligibility is determined based on one’s income. A recipient must also meet the state’s eligibility requirements. These eligibility requirements include the amount of ADL (Activities of Daily Living) assistance the person requires
Other Federal Programs
Other federal programs, such as those administered through the Department of Veterans Affairs (Older Americans Act), will cover long-term care services. However, these programs are only available for certain populations and conditions.
Private Health Insurance
Most private plans do not offer long-term health coverage. Even those that do tend to cover areas similar to Medicare.
Additional Private Payment Options
In addition to the payment options described above, you have other options, including reverse mortgages and life insurance options to pay for long-term care.
The information provided above provides a basic overview of the long-term care planning and payment process. It is recommended that you consult with an experienced New York elder law lawyer to help determine which option is best for your needs. An experienced elder attorney can provide legal guidance on long-term care that is tailored to your specific circumstances.
Is Long-Term Care Insurance Worth It for New York Residents?
Long-term care insurance is designed to cover costs that regular health insurance, Medicare, or Medicaid may not, such as extended nursing home care, home health care, and assisted living services. For many New York residents, especially on Long Island, considering long-term care insurance is a critical part of planning for future health needs as they age.
Whether this type of insurance is worth it depends on several factors. First, eligibility for buying a policy is typically contingent on one’s age and health status. The younger and healthier you are when you apply, the more likely you are to qualify and secure lower premium rates. It is important to note that many individuals may find themselves ineligible for coverage due to pre-existing conditions or advanced age.
The cost of premiums is another significant consideration. Premium rates for long-term care insurance are not guaranteed and can increase over time, potentially becoming unaffordable. This risk of escalating premiums means that even if you have been paying into a policy for years, sudden increases could make it difficult to maintain the policy just when you need it most.
Moreover, while these policies can provide substantial aid, there are often caps on the amount of benefits you can receive. As healthcare costs continue to rise, there is also a risk that the benefits may not fully cover all the long-term care costs you will face.
Given these considerations, long-term care insurance requires careful evaluation. Working with an elder law attorney can help assess whether such a policy fits within your broader financial and healthcare planning strategy. Contact Schlessel Law PLLC today to speak with an experienced Long Island elder law attorney.
What Should Be Included in Your Long Island Long-Term Care Plan?
While you should discuss your individual plan with your attorney, plans could include:
- Your will
- A living trust
- Medical power of attorney
- Durable power of attorney
- Long-term care insurance
- Life insurance
- Gathered assets
You should also designate a personal care coordinator. This can be a trusted family member or adult child who will get copies of all of your documents as well as a list of your personal financial resources.
You’ll also need to assemble your team. This should ideally include:
- A professional care manager
- A long-term care and financial planning specialist
- An elder law attorney
Carefully selecting the right components for your long-term care plan and working with a dedicated team of professionals can pave the way for a well-supported future. Because the key to a successful plan lies in personalization and thorough preparation, engaging relevant professionals is crucial to tailor a plan that best suits your needs and situation.
Develop a Long-Term Care Plan Today with the Help of a Skilled Long Island Elder Law Attorney
Planning for long-term care is a critical step for New Yorkers as they age. With the costs of nursing facilities, in-home care, and other options rising, it’s important to establish a plan that safeguards your financial well-being and helps ensure your healthcare needs are met.
At Schlessel Law PLLC, our Long Island elder law attorneys have a deep understanding of the legal issues seniors face. We are committed to providing compassionate and effective legal assistance, helping you to prepare for the future and maintain your autonomy as you age. Contact us today at (516) 574-9630 to schedule a consultation, and let us help you secure a plan that protects your interests and provides peace of mind for you and your loved ones.
