Planning for the Elder Care Years
During the retirement years, there’s a phase of life that most people will experience if they live long enough.
It’s called the elder care years. If you don’t plan for this phase of life, others, usually your children, will
end up making decisions about care and finances. As much as children love us and mean to do the right thing, they
cannot possibly know what we want if they are not told. That’s why it’s so important to plan.
Knowledge is Power
If you are currently providing care for a loved one, understanding the natural progression of long-term care and
the resources available to help can be an invaluable asset. We call this process long-term care planning and
Drazen Rubin Law, LLC is equipped to be your guide. Long-term care planning involves:
- Understanding the process of planning
- Understanding care settings
- Understanding government long-term care programs
- Knowing who to contact for help
- Creating sources of funding to pay for services
- Using strategies to preserve assets
- Creating a long-term care plan
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Find answers to common questions about Medicaid and VA Benefits.
Medicare is a federal health insurance program for individuals who are over 65 or disabled. It covers most
medical costs, but it does not cover any long-term care expenses. Medicare will cover a rehabilitation stay
at a nursing home, but benefits are limited.
Medicaid is federal welfare program that is administered by the states. Medicaid pays for medical care for
qualifying low income and needy individuals including the aged (over 65), blind and disabled.
The State of Connecticut has many programs which help an individual stay at home and still receive the care
they need, as long as it is deemed to be a safe environment. The programs are complicated however, each with
its own set of rules and regulations.
The state does maintain a right to recover what it has paid out, and without proper planning, the state will
put a lien on your home equal to the amount they have paid. But there are certain exemptions that we can
take advantage of, so through proper planning, we are often able to protect someone’s home as well as
The state has a 5 year look back period during which gifts are not allowed. But there are certain exceptions
where we are allowed to transfer assets or even the entire home, such as if a child is living in the home as
The earlier you plan, the more options you have – but it is never too late to plan. Long-term care is
complicated and expensive, but with the proper planning you can gain some peace of mind that you did what