Long-Term Care & Medicaid

Elder Law Attorneys Serving Eugene, Roseburg & Salem, Oregon

Elder law is an important branch of estate planning that focuses on the unique legal and financial needs of aging individuals and their families. This includes issues such as senior housing, in-home and long-term care, guardianships, healthcare directives, and navigating Medicare and Medicaid benefits.

Understanding the Cost of Long-Term Care

The price of long-term care continues to rise, particularly as the aging population grows. According to the American Association for Long-Term Care Insurance, the annual cost of care is projected to double over the next two decades, jumping from $73,000 to $131,800. With longer life expectancies and advances in healthcare, people are living longer, which means more years spent in care facilities at higher rates. Without financial assistance, these costs can rapidly deplete your savings. Medicaid is a critical resource that can protect you from this financial strain.

Long-Term Care & Senior Housing Options

As the population ages, more people are faced with difficult decisions about long-term care—either for themselves or aging parents. One of the biggest concerns is the cost of nursing home care, which is rarely covered by traditional health insurance. Depending on the location and level of care required, nursing home costs can range between $35,000 and $150,000 per year, with an average stay lasting just over three years.

The Challenge of Long-Term Care

Many individuals pay out of pocket for nursing care until their personal savings are exhausted, at which point they may qualify for Medicaid assistance. However, proactive financial planning can help protect assets for a spouse or heirs. A comprehensive approach may include purchasing long-term care insurance while still in good health and ensuring access to available Medicare and Medicaid benefits.

Medicare vs. Medicaid: Understanding the Differences

Many people are confused about Medicare and Medicaid, as their names are similar but their purposes are distinct. Medicare is a federal program that provides health coverage primarily for individuals 65 and older, regardless of financial status. Unlike Medicaid, it does not have income or asset requirements. Medicare consists of two primary components:

• Medicare Part A covers hospital stays, short-term rehabilitation following hospitalization, certain home healthcare services, and hospice care. However, strict rules apply to nursing home coverage, and Medicare pays for less than 9% of long-term care services nationwide.

• Medicare Part B covers outpatient care, doctor visits, and preventive services..

Oregon Medicaid: A Financial Safety Net

Unlike Medicare, Medicaid is a joint federal-state program designed to provide healthcare coverage for individuals with low income and limited assets. Each state, including Oregon, sets its own guidelines within federal regulations. Medicaid is not an entitlement program like Medicare but rather a form of need-based assistance.

Eligibility for Medicaid in Oregon depends on meeting specific financial and medical criteria. The state offers various Medicaid programs, ranging from basic healthcare coverage to long-term care services, including nursing home care and community-based alternatives. More details about Medicaid’s long-term care benefits can be found through the Oregon Medicaid State Plan.

The Oregon State Unit on Aging also provides valuable resources for seniors and caregivers navigating long-term care decisions. Our legal team assists families in determining whether Medicaid eligibility is an option and developing a strategy to protect assets while ensuring access to necessary care.

Senior Housing & Transition Planning

Helping a parent or loved one transition to senior housing can be an emotionally challenging process. Major life events such as the loss of a spouse, health concerns, or safety risks often prompt the need for a move. Leaving behind a longtime home can be difficult, and finding a suitable new living arrangement requires careful planning.

Here are some tips to ease the transition:

• Plan ahead. Avoid waiting for a health crisis to start exploring options. A smoother transition occurs when the person moving is actively involved in the decision-making process.

• Evaluate current needs. Assess both physical care requirements and financial resources. Compare the cost of aging in place—including home modifications, upkeep, utilities, and transportation—to the cost of a senior living community.

• Take a phased approach. The decision to move often takes time, and many seniors take a year or more before they’re ready to transition.

• Explore all housing options. Today’s senior living communities offer a wide range of services, from independent living to skilled nursing care, allowing for different levels of support as needs evolve.

Get Expert Guidance for Long-Term Care Planning

Navigating long-term care options, Medicaid eligibility, and asset protection strategies can be complex. Our experienced elder law attorneys can help you make informed decisions that safeguard your financial future while ensuring you or your loved ones receive the best possible care. Contact us today for a consultation.