Planning is a huge part of what elder law is all about, and that includes helping people understand what alternative planning strategies they may need to enjoy their final years.
One of the biggest issues people often face is making sure that they have adequate provisions in place for their medical needs – and those medical needs are constantly evolving and growing as we age. If you expect Medicare to cover all your costs, you’re probably going to be disappointed.
Medicare has significant gaps in coverage
It is important to realize that you can’t rely on Medicare for everything because there are a lot of things Medicare doesn’t cover. These include:
Long-term care: Even though the vast majority of people will need some form of long-term care during their lives (whether it is skilled nursing care or care in their home), long-term care coverage through Medicare is very limited. Advanced planning now can help you plan for your long-term care needs and potentially preserve your assets and estate for your future.
Coverage may not provide prescriptions, hearing aids, dental care
You can’t plan for everything, but elder law is certainly an important part of planning. The sooner you start exploring your options for the future, the more likely you’ll have the golden years you want.