Long term care is often shifted to family members when there isn't a long term care plan in place. Service can be costly and decision making can take a toll on loved ones. Long term care planning involves deciding how you want to get care, where you want to get care and who will provide that care. It also involves granting your family members permission to make decisions on your behalf and developing a way to finance the cost. Most insurance plans, including Medicare, do not cover the cost of ongoing care at long term care facilities. You are fortunate if you have long term care policy but may need government assistance in paying for the care of your loved ones.
Guardianship is a legal process utilized when a person can no longer make or communicate safe or sound decisions about his or her person and or property. This condition leaves loved ones susceptible to fraud or undue influence by others who do not have their best interest in mind. Guardianship of the person allows another to make healthcare and end of life decisions while guardianship of an estate results in the appointment of a person who is assigned the responsibilities of protecting assets, receiving income and making disbursements on another's behalf.
Healthcare is constantly changing and it is often challenging to navigate the many healthcare insurance products on the market. Making the right choice regarding your healthcare benefits may save you and your family from some difficult choices in the future. Thorough understanding of the rules and limitations of the Medicare and Medicaid programs can help you and your loved ones determine the best possible strategy for you and allow you to pursue healthcare coverage that will best meet your needs.