Have you had conversations with your loved ones and your estate planning professionals about the need for a “long-term care” plan? A long-term care plan incorporates your specific intentions and goals regarding what will happen in the event that you need support, due to medical issues, beyond what your family members can provide.
A recent research study has highlighted the importance of having a long-term care plan and the disproportionate impact on the long term care industry as a result of the current pandemic.
For example, one Kaiser study found that, from those states that are publicly reporting health data, over 10,000 individuals have already passed away as a result of the coronavirus in long term care facilities. That figure represents nearly 30% of all Covid-19 deaths within those states.
The coronavirus pandemic has also highlighted how an otherwise healthy person, or a person with very minimal health issues, could experience unexpected health complications as a result of a wide sweeping virus or other medical condition.
The need for long term care and the possible plans available to you should be discussed with your elder law lawyer. Now, more than ever, it’s important not to let a conversation around Medicaid and elder law planning to fall off of your radar.
Even if you don’t currently need long term care support, you can help yourself and your family by setting up these plans now. Knowing how to qualify for Medicaid and the other components of your elder law plan is key to gaining the peace of mind you need.
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