Oftentimes, a person in need of care does not have close family to help them through the process. It can fall to friends to assist with the care journey. With the assistance of professionals, these tasks can be managed without bringing the kind friend’s life to a complete halt. Getting familiar with the financial landscape for long term care can go a long way to helping you assist your friend through the care journey.
When assisting a friend with Medicaid planning, the first step is to determine roughly what level of care the individual needs. What activities of daily living (adls) or instrumental activities of daily living are compromised? Does the individual only require an assisted living facility? Does the person need a nursing facility level of care? Is perhaps only a short stay in respite care all that is necessary? Could the person remain in the home and receive in home care from home health aides or paid caregivers or personal care assistance or perhaps utilize adult day care or adult foster care? Could home modifications be made to facilitate the receipt of care>
Next, the ability to pay should be determined. Does the individual have sufficient countable assets to easily private pay for any upcoming care needs? If not, exactly what level of private pay is available? What are the countable assets? Will Medicaid eligibility be required to pay for care? Can Medicare pay for any of the care? What are the income and asset limits for the assistance programs that might be applied to? Is any long-term care insurance available?
Additionally, if Medicaid is definitely part of the equation after spend down is complete, who will file the Medicaid application? What is the applicable Medicaid asset limit in the state? What long-term care facilities can accommodate Medicaid beneficiary residents needing a nursing home level of care?
Finally, the friend needs to know that other resources are available to shoulder the burden of guiding the individual through the care continuum? There are certified Medicaid planners that can assist with the journey? Geriatric care managers can guide the friend through the case management? Elder law attorneys are valued part of the teams as well, providing guidance as well as estate planning. State organizations have available resources as well, such as area agencies on aging.
When a friend must step in and assist a friend in need, it is important to remember that resources are available to build structured family caregiving, building a personal emergency response system.
#184