Long-Term Care Planning

LONG-TERM CARE PLANNING:

LONG-TERM CARE PLANNING www.theelderfirm.com

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“ Do not put off until tomorrow what can be put off till day-after-tomorrow just as well.” -Mark Twain

Who Receives Long-Term Care?:

Who Receives Long-Term Care?

What Is The Cost In Missouri?:

What Is The Cost In Missouri? The average cost of a semi-private room in a nursing home in Missouri in 2011 is $48,910 per year $52,925 per year for a private room The typical elderly resident spends just over 2 years and 4 months in a nursing home.* At $48,910 per year The present average cost of nursing care in Missouri is $114,107 over an individual’s lifetime

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Since 1990, the cost of nursing care has grown by 5.8% annually, which is about double the rate of inflation

Your Payment Options:

Your Payment Options

Nursing home expenditures are currently paid as follows*::

Nursing home expenditures are currently paid as follows*:

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About $135 billion is spent on long-term care for the elderly, which is 1.2% of the U.S. GDP (Gross Domestic Product)

Medicaid Eligibility Requirements:

Medicaid Eligibility Requirements

Only Countable Resources Are Considered In Determining Medicaid Eligibility:

Only Countable Resources Are Considered In Determining Medicaid Eligibility Noncountable Resources Include:

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Does someone have to “spend-down” all of their assets on nursing care before they are eligible for Medicaid?

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NO You have many options when it comes to saving at least some of your assets. Planning in advance can save ALL of your assets

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You may delay, but time will not.” -Benjamin Frankli n

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“Procrastination is opportunity's assassin.” -Victor Kiam

Call 573.449.4400 For a FREE Consultation :

Call 573.449.4400 For a FREE Consultation www.theelderfirm.com