I’ve been reading through the “Big Beautiful Bill” on upcoming federal changes to healthcare funding. It’s tough reading—so tough I nearly fell asleep—but one thing is clear: we’re going to see cuts to services provided by Medicaid (California’s Medi-Cal) and Medicare (health insurance for adults 65+ and those with disabilities).
Here’s the reality: 70% of people over 65 will need some form of long-term care. I hope to be one of the lucky 30% who don’t—but I’m not gambling on it. I’ve planned ahead:
A Medi-Cal-qualifying Trust to protect my assets if I need skilled nursing care.
A Life Insurance Policy with a Long-Term Care Rider that will pay $5,205 a month if I can no longer perform two out of five activities of daily living.
The difference between private care and a Medi-Cal facility can be significant, and planning ahead ensures I have choices.
Unfortunately, there’s a lot of bad advice out there from people who don’t fully understand what Medi-Cal actually pays for. Work with a Certified Elder Law Attorney—someone who knows the system and can help you protect what you’ve worked for.
If you’re concerned about paying for long-term care and want to avoid going broke in a nursing home, give me a call.
