How do I pay for Long-Term Care?
3 ways to pay for Long-Term Care
1) Privately Pay - Most facilities require a 2-year private pay period before they will accept Medicaid. We can help you create a personalized strategy to prepare for the high costs of Long-Term Care through Risk Assessment and Risk Mitigation. We help you to leverage your assets and benefit from OPM (other peoples money) as part of effective Lon-Term Care plans. We can provide you with a no cost consultation to help you setup your plan.
The cost of Long Term Care can be more than $10,000 per month.
The cost of care varies based on the care setting, geographic location of care and the level of care required, among other things.
2) Long-Term Care Insurance - People who had the opportunity, foresight, and financial ability to purchase LTC Insurance. LTC Insurance typically will help pay for a few years. At some point, benefits will run out which often leaves them in the position of needing Medicaid to pay at some future point.
3) Medicaid Long-Term Care - What is Medicaid Long-Term Care? The Department of Home and Community Services (DSHS) is a Washington state government agency. Medicaid helps low income seniors get support and services when Long-Term Care is needed at home or in a community setting.