Why you might need long-term care planning

By May 10, 2011Uncategorized

While the idea of long-term care planning is forlorn to some, there are many reasons why long-term care planning is something you should consider.  Not the least of these reasons is that long-term health care is exorbitantly expensive in the state of Arizona.  Care in a nursing facility, for instance, ranges in price from $145 per day all the way up to $700 per day.  This means that if you require care in such a facility, you could pay between $50,000 and $250,000 every year for your care, although a typical facility would probably cost you closer to $75,000 per year.

Long-term care planning is not just important for those who need care in a skilled nursing facility, as other types of long-term care are also quite expensive.  For instance, the average monthly cost of care in an assisted living facility in the state is just over $2,900; the average hourly rate for a home health aide in the state is $23; and the average daily rate at an adult day services center in the state is $84.  This means that even if you only required a few days of home health aide visits each week, you could incur more than $18,000 per year in long-term care expenses.

Of course, one more thing about long-term care is that by its very nature it is long-term.  As such, if you require long-term care, you can probably count on having those expenses for at least the foreseeable future, if not indefinitely.  Unless you are extraordinarily wealthy, then, all of this must make a compelling case for long-term care planning.  Whether it is simply putting some money aside up front to prepare for unforeseen exigencies, or getting on track to qualify for ALTCS, there are measures you can take now to help you prepare yourself for circumstances that may arise.

One thing you can do is speak with an elder law attorney about long-term care planning.  To set up a consultation, call JacksonWhite at (480) 818-6912.