The facts surrounding the subject of long-term care are attention-getting. For one, many people are surprised to hear just how likely it is that they may eventually need long-term care.
According to statistics that have been presented by the United States Department of Health and Human Services, approximately seven out of every 10 people who are fortunate enough to attain senior citizen status will someday need long-term care. So if you have reached the age of 65 or have every intention of doing so, it is likely that you will need such care.
The cost of long-term care has become truly exorbitant, with the average annual expense for a private room in a nursing home in the United States reaching $87,235 in 2011. A 12 month stay in an assisted living community would cost you over $41,700 on average.
Of course, most people who need long-term care spend more than a single year receiving such care, and these are considerable expenses to be presented with during the latter stages of your life.
Medicare does not pay for long-term care. However, Medi-Cal will pay for it if you can qualify, and qualifying can occur without divesting yourself of all of your assets. You can keep your place of residence, your car, and many valuable personal possessions without affecting your $2,000 personal resource limit.
However, there are intricacies to the laws that make it challenging to negotiate your way through the system without expert guidance. Should you be interested in the possibility of working toward Medi-Cal eligibility as a response to long-term care costs, the first step is to sit down and discuss the situation with a licensed and highly qualified San Jose, CA elder law attorney.