Long-term care, often called custodial care, is a range of services and support to meet health or personal care needs over an extended period of time. This is non-medical care provided by non-licensed caregivers.
It’s a common occurrence. Far flung family members return home to visit elderly relatives for the holidays. Upon arrival, they notice that things seem … off.
A one-bedroom apartment in an assisted-living facility will cost you $194 per day–or about $71,000 per year. A home health aide will set you back $25 per hour, or $1,000 for a 40-hour week. Not scared yet?
Does anyone have a crystal ball that I could borrow? Wouldn’t it be nice to know what our future looks like, so we could be better prepared—but on the other hand, maybe not?
When a spouse enters a nursing home, the cost of care can be financially devasting. Many families are simply unable to afford long-term care, without applying for Medicaid. To qualify for Medicaid, there are limits on the resources that an applicant may have. Resources include both income and assets.