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What is long-term care?

Long-term care is a range of services and supports an individual may need to meet their needs. Most long-term care is not medical, but rather custodial care assisting in activities of daily living. Activities of daily living include eating, bathing, dressing, toileting, transferring, cleaning, and shopping. Long-term care is typically needed when an individual becomes mentally incapacitated with a disease like Alzheimer’s.

How do you access it?

There are three methods to access long-term care: Medicaid, long-term care insurance, and paying for it outright. Medicaid reimburses the cost of medical fees but is only for individuals with nominal income and assets. Long-term care policies have a daily reimbursement for services assisting the policyholder with activities of daily living.

New York State Partnership for Long-Term Care

It is an unique program combining long-term care insurance and Medicaid Extended Coverage (MEC). A policy holder buys a traditional long-term care policy. With a Total Asset Protection plan when the benefits are exhausted, the policyholder can apply for MEC and are exempt from the Medicaid five year look back period.

Contact an experienced estate planning lawyer to plan for long-term care

For professional legal service throughout New York City, call Miriam Davidson, Esq. at 212.308.4810 or contact the firm online to schedule an appointment.