Long Term Care in The State of Missouri
Serving Clients in St. Louis and the Surrounding Area
Elder law is another aspect of estate planning focusing primarily on the needs of families and individuals as they age. Issues of aging include senior housing and home care, long-term (or nursing home) care, guardianships and health care documents, Medicare and Medicaid.
Senior Housing & Long-Term Care Options
The Long Term Care Dilemma
As our population ages, more and more of us confront elder law-related issues, whether for ourselves or our parents. One of the most pressing issues is long-term nursing home care, which usually is not covered by traditional health insurance.
Depending on where you live and the level of care needed, nursing home care costs can vary greatly. In 2019, the national median cost for a private room in a skilled nursing facility was $102,200. The average stay is slightly more than two years. Most people end up paying for nursing home care until their personal (or family) assets are depleted, then they may qualify for Medicaid to pick up the cost.
Careful planning, however, can help protect your assets, whether for your spouse or for your children. The belt-and-suspenders approach is to purchase long-term care insurance while you are healthy enough to qualify, and to make sure you receive the benefits to which you are entitled under Medicare and Medicaid.
Medicare in Missouri
Medicare Part A covers in-hospital care, extended care after a hospital stay, some home health care services, and hospice services. The rules for nursing home coverage are very strict and, in fact, Medicare pays for less than nine percent of nursing home care in this country.
Medicare Resources
Missouri Medicaid
Medicaid is a joint federal-state program subject to certain federal requirements, each state implements its own regulations on how the program is managed. Medicaid is not an “entitlement” program like Medicare, but rather a form of welfare. Medicaid eligibility is determined after the proper application is submitted to the state. There are many Medicaid programs available in Missouri, from basic medical coverage to nursing home programs.
We assist seniors and their families in making the tough decisions regarding long-term care planning, including whether Medicaid eligibility may be an option.
Senior Housing Options
Helping a parent move to senior housing can seem more intimidating than orchestrating a rocket launch. The death of a spouse, declining health or safety concerns can trigger the need to move. The first phase comes with the realization that what has been home is no longer suitable. Emotional ties to a place are hard to overcome. Finding a new home that is both appealing and appropriate is no easy task, and neither is culling through a lifetime’s accumulation of “stuff.”
Here are some tips to help make the transition easier:
- Plan ahead. Don’t wait for a health crisis to start the process. The smoothest transitions occur when the person moving is in the driver’s seat.
- Get a full assessment of the current situation. Physical care needs and financial resources are where to start. Consider the costs of staying in place, including renovation and ongoing maintenance. Add the cost of rising utility bills and taxes, and don’t forget transportation and food. Make a list and decide whether it’s cheaper to stay or move to a community designed for seniors.
- Take a multi-phase approach. Seniors often take longer than a year to actually make the move.
- Fully explore new housing options. Senior living offers a broader range of options than ever before.v
Book An Initial Call With Formula Law
Don’t let the fear of paying for senior housing for your aging loved-ones get in the way of planning now.