Futterman, Lanza & Pasculli, LLP

Medicaid planning: Costs of long-term care continue to rise

Many individuals in New York and elsewhere may find it somewhat intimidating to think about the future, let alone plan for it. However, with the ever-increasing costs of long-term treatment and care, not having a strategy in place could prove devastating. Those who wish to avoid such an outcome may be able to overcome any previous reservations by seeking guidance from an attorney with experience in Medicaid planning.

According to reports, the overall costs of long-term care continue to increase at an alarming rate. This may in part be due to a reduction in time spent in the hospital as medical facilities work to cut costs, which in turn leads to a need for more intensive treatment during rehabilitation. Along with an overall increase in population at nursing homes, this increase in demand has led to a hike in prices, which have reportedly reached an average of more than $8,000 a month.

Some life changes are uncontrollable, and can happen at any given moment. With the staggering costs of care, many individuals may wonder how they will afford to pay for treatment should the need arise. With the uncertainty involved in planning for the future, a person may find it beneficial to seek guidance in covering every possibility.

Reaching a point in life where long-term care is required, without a plan in place to cover the costs, can be a stressful and daunting situation. Those who wish to avoid a similar outcome could speak with a Medicaid planning attorney for advice in every available option. An attorney in New York can address a client's concerns and assist in forming a plan to prepare for whatever the future may hold.

Source: Forbes, "The Staggering Prices Of Long-Term Care 2017", Emily Gurnon, Oct. 10, 2017

No Comments

Leave a comment
Comment Information
An Elder Law And Estate Planning Law Firm On Your Side.
EMAIL US FOR A RESPONSE

Let’s Talk.

Bold labels are required.

Contact Information
disclaimer.

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.

close

Privacy Policy

#

satellite offices

By Appointment Only

222 East Main Street
Ste 314
Smithtown, NY 11787

Phone: 631-894-4730
Fax: 631-979-9546
Smithtown Law Office Map

1 East Main Street, Suite 1
Bay Shore, NY 11706

Phone: 631-894-4730
Bay Shore Law Office Map

satellite offices
70 East Sunrise Highway
Ste 500
Valley Stream, NY 11581

Phone: 631-894-4730
Map & Directions

33 Flying Point Road
Suites 121/122
Southampton, NY 11968

Phone: 631-894-4730
Map & Directions