Rhode Island, Massachusetts, and Connecticut Certified Elder Law Attorney
Southern New England's Certified Elder Law Attorney
Rhode Island, Connecticut, and Massachusetts
Medicaid Planning Workshop
Thanks to the advances in modern medicine, Americans are living longer than ever. However, many of these same advances have also pushed medical care costs to all-time highs. Because we live longer, more people will require long-term care in a nursing home or assisted living facility, leaving many seniors and their families struggling to afford this care.
There are about 26,514 nursing homes in the U.S., with 70% of people who reach age 65 needing long-term care at some point, with the average cost being $9,034 per month. That's a whopping annual cost of nearly $110,000!
And Medicare does not pay for long-term care. Medicare only pays for the first 100 days in a nursing home or skilled nursing facility and only if the stay follows a hospitalization of at least three days. When you arrive at day 101, other forms of payment need to be in place.
Because Medicare doesn’t pay for long-term care, people who need nursing home care must pay privately. Finding a way to pay for long-term care can be a big problem for many people, especially given the high costs associated with such care. And the price of long-term care insurance is so high that very few people can afford to pay the premium. Advance Medicaid protection planning can help.
Crisis Planning Discussion
Sadly, life circumstances can intervene in some situations, meaning some seniors cannot engage in advanced Medicaid protection planning. If you or your loved one is in a nursing home or thinks one of you may need to go very soon, remember that crisis asset protection planning is available. In crisis planning, we discuss ways to preserve and protect as much income and assets as permissible under the law to benefit the individual in crisis (and the spouse if married). It is usually never too late to engage in asset protection planning.
In this training, Attorney Connelly can help get the individual and family started on the right path by discussing long-term care and estate planning. This knowledge could save tens of thousands of dollars in retirement by utilizing existing public benefits to fund critical long-term care. He will also discuss Medicaid crisis planning.
You will learn the answers to questions such as:
How much does long-term care cost in southern New England?
What are my private financing options for long-term care?
What are my public financing options for long-term care?
How do Medicaid and VA financing work, and what are the requirements for eligibility?
What are the top strategies for using Medicaid to help pay for care?
What is Crisis Planning, and how is this different?
Attorney RJ Connelly III | Connelly Law Offices, Ltd.
Offices in Pawtucket, RI, Mystic, CT, and Martha's Vineyard, MA
Call our office today at 401-724-9400 or complete the box below and ask about scheduling one of our free inservice or workshops. If you have a specific need that you do not see here, please ask if we can provide a specialized inservice for your organization, clients or staff!
"Southern New England's Certified Elder Law Attorney"
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Rhode Island Elder Law Attorney
Our office locations
Mystic, CT 06355
Rhode Island - Main Office
Pawtucket, RI 02860
East Chop, MA 02557
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