Thinking about the needs that may come about during their elderly years may be something that more Texas residents have begun doing. As a result, they may review their estate planning options and work to determine what type of plan may best suit their needs and the needs of their families. However, individuals may want to remember to include long\-term care planning.
Though thinking about becoming incapacitated at some point in life may not be a favorite topic, it may be one worth considering. If Texas residents do not give thought to the possibility of needing a nursing home stay or other similar care, they may miss out on their chance for long\-term care planning. Without proper plans, individuals and their families may struggle with costs.
Generally, Medicaid is available in Texas to pay for an extended nursing home stay. However, the applicant for assistance must meet certain requirements, making it prudent to plan for Medicaid assistance in advance. The individual or married couple can facilitate that process by seeking the services of an attorney experienced in the practice of elder law.
Whether one resides in Texas or another state, there are some basic pitfalls to avoid when considering retirement and vital long-term care issues. For example, the cost of long-term care, including the costs of daily health care for an extended period, may run into the hundreds of thousands of dollars in expenses. If long\-term care planning means purchasing insurance for a few thousand dollars per year in preparation, it can constitute the dodging of a major financial bullet in one's later years.
Texas and other states impose federal rules and regulations for qualifying for Medicaid assistance by elderly applicants. Because Medicaid is a primary source of funding for nursing homes and similar institutions, long\-term care planning may include planning for this federal program. For those who cannot afford insurance to cover nursing home or other long-term care, Medicaid may be the main available remedy.
The costs of taking care of Alzheimer's patients have skyrocketed to the point that it is now called the country's most expensive disease, a tag that likely applies also in Texas. This is an unfriendly subject that most people want to leave in the distant shadows of their mind. However, the numbers of people suffering from the disease -- or from its cousin, dementia -- is rising, and the elder law issues related to planning cannot be conveniently avoided.
Long-term care in Texas generally refers to a range of products and services that older persons may need to get through their daily lives. For example, one may need assistance in preparing meals, getting dressed, bathing, cleaning and the like. If one is disabled and in need of medical care, this may be done in the home or it may require in-patient care. Medicare pays essentially nothing for such services, and it is prudent for a couple or individual to do some vital long-term care planning.
The process of aging successfully is at least partly an art, according to some experts. The individual or married couple will do much better in later years if they have paid attention to their physical conditions, mental relaxation and cutting-edge nutritional benefits. For those who reside in Texas, having relationships early in life with experienced elder law attorneys is also a vital cog in the wheel of balanced aging.
Residents of Texas who are looking into long\-term care planning will be well-advised to take a look at different types of insurance as a major tool in the process. If one consults with an elder law attorney on the subject, the attorney will likely recommend looking into three or four different kinds of policies. One of those is life insurance.
Whether one resides in Texas or elsewhere, the are some common issues that arise often when discussing the making of a long-term care plan to cover the post-retirement years. There is not always a clear-cut answer to every question because it is not generally known in advance how much long\-term care planning a person will need or for how long it will have to continue. One fairly established statistic is that there is about a 70 percent chance that a person over 65 is going to need some type of long-term care, according to the U.S. Department of Health and Human Services.