November is Long-Term Care Awareness Month: A Time to Plan Ahead

Farr Law Firm Fredericksburg Fairfax VANovember is Long-Term Care Awareness Month, a time for families to educate themselves and prepare for potential long-term care needs. Planning ahead for long-term care better prepares families to live well in their later years.

Below are some facts about the senior population and the growing need for long-term care in the United States that emphasize the need to plan ahead:

  • Currently, approximately 79 million baby boomers live in the U.S.
  • Americans are living longer; celebrating an 80th birthday is not uncommon. Living a long life increases the chances of needing long-term care.
  • The federal government reports that 70% of people who reach the age of 65 will require long term care services at some point in their lives. Of those, 20% will need care for between two and five years, while another 20% will need care longer than five years.
  • The average cost of long-term care in the U.S. is $73,000 per year in a nursing home; in Northern Virginia, nursing homes cost between $9,000-$12,000 a month or $108-144,000 a year (a few thousand less in Fredericksburg). A three-year stay for one person can easily impoverish a family.
  • Medicare and other forms of health insurance don’t cover long-term care in a nursing home. Medicaid will cover this type of long-term care, but to qualify for Medicaid, you’ll need to work with an experienced Elder Law Firm, such as the Farr Law Firm, to protect your hard-earned assets.  This is because our American health care system essentially discriminates against people who get the “wrong type” of illness or injury – an illness such as dementia or an injury such as a stroke – which results in the need for care that doctors can’t help.

While many people acknowledge that they will need long-term care, few have put a plan in place. By being proactive and helping your loves ones plan for long term care in advance, you can help make sure your loved ones always receive the care they need without worry or financial struggle.  You’ll further avoid many costly legal headaches that often result when people are not prepared for incapacity or ongoing care needs.  It’s never too early to get started. Learn more at The Fairfax and Fredericksburg Medicaid Asset Protection Law Firm of Evan H. Farr, P.C. website, or call us at our Virginia Elder Law Fairfax office at 703-691-1888 or at our Virginia Elder Law Fredericksburg office at 540-479-1435 to make an appointment for a no-cost consultation.

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Long-Term Care

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About Evan H Farr, CELA, CAP

Evan H. Farr is a 4-time Best-Selling author in the field of Elder Law and Estate Planning. In addition to being one of approximately 500 Certified Elder Law Attorneys in the Country, Evan is one of approximately 100 members of the Council of Advanced Practitioners of the National Academy of Elder Law Attorneys and is a Charter Member of the Academy of Special Needs Planners.

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