Planning for assisted living costs should be at the top of your aging parent’s mind, or your mind. Because nursing home, assisted living, and adult day care costs are constantly increasing. As stated in the MetLife Mature Market Institute’s annual survey the cost of these types of long-term care have increased by 5.6 percent since the previous year. A private room in a nursing home averaged $87,000 a year and adult day programs cost $42,000 a year. Assisted living costs increase as your parents require additional care. Therefore, facilities can charge hundreds more a month for bathing, incontinence care, and…
The greatest fears of seniors are one, running out of money, and two, ending up in a nursing home. Consequently, they lose their personal independence. Also, the loss of their hard earned savings. The average cost of nursing home care in Maryland is approximately $100,000 to $150,000 per year, dependent on your location, within the state. Unfortunately, most seniors pay for nursing home care utilizing their savings until it’s depleted. Subsequently, they qualify for Medicaid. Therefore, Medicaid will pay the cost of the nursing home, less all the senior’s income. With asset planning, whether in advance or in response to…
Senior Life Care Planning helps seniors plan for their future and for what happens after they pass away. While it’s not a subject that people enjoy talking about, it’s a necessity for seniors. We help elderly people with all aspects of their current life and assets. One of the biggest areas we can help seniors with is Medicaid planning. Because Medicaid laws are constantly changing, it’s important to start the planning process as early as possible. We help seniors qualify for Medicaid and the benefits that come along with it. Estate planning is another area in which we can help…
Frederick, MD 
301-663-9230
