Parman & Easterday provides legal assistance at all phases of the nursing home planning process. Whether you are hoping to find ways to get nursing home costs covered without spending your life savings or are concerned about nursing home admission paperwork for you or a loved one, we can provide the assistance and knowledgeable advice that you need.
It is very common for people to need nursing home care at some point in their life. The decision to go into a nursing home is a life-changing one, not just for the new nursing home resident but also for family as well. Without the right planning, going into a nursing home can be extremely costly and can mean the end of a family legacy. It can also put a vulnerable senior at risk. Don’t let this happen to you.
If you live in or around Oklahoma City, OK contact Parman & Easterday today for help. We can provide personalized advice and answer general questions you may have including:
- What is involved in nursing home planning?
- When should nursing home planning get started?
- How can an Oklahoma City nursing home planning lawyer help?
What is Involved in Nursing Home Planning?
Nursing home planning involves making a financial plan to afford nursing home care, as well as taking steps to ensure that the care provided in a nursing home is sufficient to protect vulnerable residents.
Nursing home costs and nursing home abuse and neglect are all big problems faced by senior citizens. Nursing homes can cost thousands of dollars a month, with bills exceeding $100,000 per year. It is especially costly to get long-term care for people with conditions like Alzheimer’s which require specialized assistance and strong supervision. Even with these massive expenditures, often the quality of care is very low for seniors and abuse is a real threat.
To make sure that nursing home costs can be covered, often the best and only option is to try to qualify for Medicaid as soon as possible. Medicare and most private insurers don’t pay for routine care in nursing homes, and only pay if there is specialized medical assistance required for a limited period. Because Medicaid is one of the only sources of payment, qualifying for this program is essential to avoid spending your own personal money on nursing home expenditures.
Medicaid, however, is needs-based and there is a resource test to make sure people with substantial assets do not get benefits. If you don’t have a plan to protect the resources you have worked for all your life, you’ll have to spend down your resources until you fall below Medicaid’s allowable limits. With the creation of a Medicaid plan, however, you can structure the ownership of property so it will not count as an asset that disqualifies you. This means your legacy is safe and Medicaid pays for your costly care.
Medicaid planning is just one of many services a nursing home planning professional will provide. We can also help you to review nursing home admissions paperwork to avoid clauses which limit your right to sue in case of abuse or neglect and can help you to find a nursing home with a good reputation that is likely to provide appropriate care.
When Should Nursing Home Planning Get Started?
Medicaid looks back five years from the time you try to get a nursing home paid for. If you have made transfers during the five years, you’ll be disqualified temporarily from getting Medicaid coverage. This means that, in the interim, you’d have to spend your own money. Medicaid planning does involve the transfer of assets, so it is important to try to put your plan in place at least five years before care is needed. If you haven’t acted soon enough, you should still talk with an attorney about starting your plan now so you can protect as much of your property as possible.
The sooner you begin nursing home planning, the more of your assets you can protect and the easier it will be to ensure you or your family member gets the appropriate care when needed. Give us a call today at (405) 843-6100 in Oklahoma to learn how we can help you. You can also contact us online to speak with a member of our legal team about the nursing home planning process.