Elder Law encompasses several practice areas, including asset protection, Medicaid planning, and estate planning. We have extensive experience in each of these areas and focus on helping elders and the people who love them cope with the changes that accompany growing older. In particular, we help families protect their life savings from the high cost of long-term care.
The Cost of Care in Pennsylvania
With Americans living longer than ever before, the majority of us will need long-term care at some point in our lives. In fact, 20 percent of us will require long-term care for at least five years.
Like other forms of health care, the cost of long-term care is rising rapidly. As of 2021, the cost of a private room in a Pennsylvania nursing home averaged more than $10,800 per month. That’s nearly $130,000 per year, and in certain parts of Pennsylvania the costs are even higher. Sadly, many families exhaust their life savings within two years of a family member entering a nursing home.
Are you destined to lose everything if you or your spouse must enter a nursing home? Not if we can help it… and we can. With preplanning, we can use a range of strategies and tools to protect your assets against the possibility of needing expensive long-term care in the future. We can also help you obtain assistance from Medicaid and other sources to cover the cost of nursing home care. Even if you are already in a nursing home, or must move to one very soon, we may be able to protect most of your life savings.
Coping with a Medicaid Crisis
A Medicaid crisis is a situation in which an individual already lives in a nursing home, or must move to one very soon, and has been informed that their income or asset levels make them ineligible for assistance from Medicaid. As you would imagine, the prospect of paying nearly $130,000 a year out-of-pocket for nursing home care represents a serious financial crisis. If you have been given news like this, please remember: Information provided by friends, nursing home intake staff, social workers, and others who mean well can be inaccurate and confusing. Medicaid eligibility laws are complicated and change from one year to the next. Few people truly understand these laws. We do.
Whether you want to plan in advance for the possibility of needing long-term care in the future, or you are facing a Medicaid crisis situation, we are here to help. We welcome the opportunity to discuss your particular needs and protect your hard-earned assets against long-term care costs. Contact us at your earliest convenience for a personal meeting.