How Does Long-Term Care Work?
No one’s estate plan is complete without a plan for long-term care. After you have written a will and gotten a realistic picture of what your income and expenses will be during retirement, it is time to think about long-term care. Some of your long-term care plans depend on personal preference and your family situation, and some of it is less predictable, depending on your health and the health of your spouse. If independence from your family is your first priority, you might choose to move to a retirement community that offers assisted living services once your empty nest starts to feel too big and empty. If you value living in a multigenerational home, or if you have family members living nearby, you may prefer to age in place as long as you are healthy enough that family caregivers and home health aides can meet your needs. To find out more about the people and money involved in providing long-term care for seniors, contact a Tampa estate planning lawyer.
Meet the Nursing Care Staff
If you choose to age in place but need help with certain tasks of daily living, such as bathing or dressing, the professional who will provide your care will be a home health aide (HHA). HHA certification in Florida does not take place through the Department of Health. By contrast, certified nursing assistants (CNAs), who provide the majority of assistance with activities of daily living in nursing homes and assisted living facilities do have a Department of Health-issued license.
A main difference between nursing homes and assisted living facilities is that, in addition to needing more help with activities of daily living, residents also require help taking medication. Licensed practical nurses (LPNs) in nursing homes give residents their pills each day, in addition to administering injections and inserting catheters when necessary. Registered nurses (RNs) supervise the other members of the nursing staff. They also administer intravenous medication when required and set the nursing care plans and nutrition plans for the residents.
Paying for Long-Term Care
Even if you have saved a considerable amount of money for retirement, it is possible to use up your savings if you require years of residential care. Long-term care insurance pays for your residency and care in both nursing homes and assisted living facilities. The younger and healthier you are when you buy a policy, the less expensive the premiums are. If you don’t have long-term care insurance and you run out of savings, Medicaid will pay for nursing home care, but it does not pay for assisted living facilities. If you receive nursing home care as a Medicaid beneficiary, Medicaid uses your Social Security check to reimburse itself.
Contact David Toback With Questions About Planning for Long-Term Care
A Central Florida estate planning lawyer can help you consider the financial and non-financial aspects of aging in place or moving to an assisted living facility. Contact David Toback in Tampa, Florida to set up a consultation.