Long Term Care Planning
Did you know that you may be responsible for paying your parents’ medical bills and long-term care expenses? In certain circumstances, filial laws allow nursing homes and other types of care facilities to seek payments from you. If you live in Colorado but your parents live elsewhere, you may fall into that group. What are filial responsibility laws? Filial refers…Read More
Colorado works with its citizens to assist with long-term care (LTC) planning. The state believes that when people plan properly and are proactive, they should be rewarded. This is why Colorado’s Long-Term Care Partnership was established. It is a partnership between private insurance and state government and encourages long-term care planning. What benefits does Colorado’s LTC Partnership provide? The Partnership helps…Read More
Different states vary in eligibility terms for Medicaid long-term care. Some states allow Medicaid applicants to spend down their money on care until they are under the Medicaid limit. Then they can apply. Those states are considered non-income cap states. Colorado is considered an income cap state. This means that Medicaid eligibility has a hard income limit. Anyone who has…Read More
As your parents are getting older, you might need to have some difficult discussions with them. One of these discussions is about what types of health care they want when they can’t make the decisions for themselves. Thinking about these matters isn’t necessarily pleasant, but it is important so that you can make sure your parents only have the treatments…Read More
Regardless of your age, you may have some concerns about needing long-term care assistance at some point in the future. It is never too soon to start planning for the future, but it can be too late. The cost of long-term care The average cost of a nursing home stay in Colorado is $7,854 per month. In Denver, the cost…Read More
The answer is that everyone should do long-term health care planning, but long-term care insurance is debatable. According to Colorado State University, 70 percent of people 65 or older will need some type of long-term care. It may be home care, adult daycare, assisted living care or nursing home care. Long-term care is costly. For instance, back in 2013, Colorado’s…Read More
Did you know that you may be responsible for paying your parents’ medical bills and long-term care expenses? In certain circumstances, filial laws allow nursing homes and other types of care facilities to seek payments from you. If you live in Colorado but your parents live elsewhere, you may fall into that group. What are filial responsibility laws? Filial refers…Read More
Did you know that 30 percent of seniors in Denver live on less than $20,000 per year? And 24 percent of those 60 years old or older receive food stamps? That is a whopping number of the aged population that probably have not planned for long-term health care. If you didn’t know that, you probably also didn’t know that when…Read More
The expenses of round-the-clock nursing home care are exorbitant. Even mid-tier facilities in the Denver area with semi-private rooms can cost between $9,000 and $10,000 per month. According to a study by Genworth Financial, private rooms in high-end nursing homes in the huge Denver-Aurora-Lakewood metropolitan area can cost upwards of $230,000 annually. These staggering costs can easily run through a…Read More
What exactly is a guardian? Who needs one? How do you ask the court to appoint one (and do you want to be given the job)? These are the most common questions that people have about guardianship — and the answers you need. What is a guardian? A guardian is appointed by the court (or chosen by the individual in…Read More
