Creating a long-term care plan can help address costs

Many people enjoy the process of planning. The comfort that can come from having a plan for various scenarios can seem appealing. As a result, some Delaware residents may have plans for a number of occasions. However, they may want to ensure that they have a long-term-care plan in place specifically.

According to reports, 70 percent of older individuals, typically those of retirement age, will need some sort of long-term care. Therefore, it makes sense to plan ahead for this possible event. Some individuals may be even more likely to need this type of care, such as those who participate in risky behaviors or have a family history of illness or other health conditions. While long-term care insurance could be one option to consider, not everyone qualifies for coverage.

Because of the possibility of not qualifying, it is important for individuals to consider the ways they could potentially pay for care. Some people may be able to spend down and qualify for Medicaid when the time comes to use those benefits, or they may be able to qualify for supplemental insurance policies. Additionally, they could take steps to save their own funds to be put toward addressing the costs of care.

Understandably, many Delaware residents may feel intimidated by the idea of creating a long-term care plan, but it can offer many benefits. Plus, individuals do not have to try to determine their best options on their own. Experienced elder law attorneys can help interested parties understand planning tools and how to make wishes known.



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