Placing a loved one in a nursing home is difficult enough without having to worry about the tremendous expense involved with it. Oftentimes, these costs are significant enough to deplete most, if not all, of the assets of the individual. When a nursing home is the only option, the extra expense has to be met somehow. So what can you do to keep these expense down?
It is tempting to allow the nursing home staff to attend to your loved one’s every needs. But this is the same as employing a full-time assistance to take care of your every desire. If you take some of these duties on yourself, you can lower the excess fees that are being charged for performing additional duties above and beyond their normal responsibilities.
It is quite possible that your family qualifies for a type of government assistance, including Medicare or Medi-Cal. You will want to consult with an experienced and qualified elder law attorney to see what the qualifications are. Some programs are based on the assets and any income that the individual receives.
Having long term care insurance in place will greatly reduce the cost of the facility. The key is to lock in these policies early on before they are needed. The cost of the policy might seem wasteful while it is not being used, but once it is enforced you will see a dramatic savings.
Your loved one could qualify for another type of assistance. If they or their spouse have served in the military during wartime, they could be eligible for assistance through the VA for the duration of their stay. The Veterans Administration has supplement payments available for those who served this country during a period of conflict. Monies are paid directly to the facility to ensure that they are being utilized for the intended need. The filing process requires proof of their service through proper documentation, but the payout could be enough to make up the difference that you are lacking in income each month.
Elder law attorneys help families who are facing the often overwhelming costs of long term care. The best way to manage one’s costs is to seek a consultation with an elder law attorney to learn what planning opportunities exist.