Typically striking in mid-life, Parkinson’s disease can be a devastating diagnosis for many. Due to the relatively young age of onset, family members can be particularly committed to caring for their loved ones at home. As the symptoms of Parkinson’s progress, however, often impairing the person’s ability to walk, talk, eat, and conduct activities of daily living, including bathing and food preparation, loved ones may be confronted with the difficult decision of placing their loved one in a nursing home. With nursing home care averaging $4,000-10,000 per month, this already tough decision can be compounded by figuring out how to pay for the nursing home.
How can you pay for a nursing home if your loved one has Parkinson’s?
It may be possible that your loved one is in possession of benefits, which may cover the cost of a nursing home. These may include a long-term care insurance policy, life insurance policies, which can be cashed out, or veteran’s benefits. It can be imperative to discuss the existence of any of these benefits with the Parkinson’s patient in the early stages of diagnosis so that when the time arrives, family members are aware of any such benefits.
What if no such benefits exist?
In the event that no such benefits exist, and the family cannot afford the exorbitant cost of a nursing home, the Parkinson’s patient may qualify for Medicaid to cover the cost of the nursing home. If he or she does not qualify, Medicaid planning by a qualified estate planning attorney may assist in maneuvering eligibility.
Do you or a loved one have Parkinson’s and worry about the significant cost of long-term care?
You may have resources available to you that you are not aware of or do not know how to access. Reach out to our office to schedule an appointment so that we can discuss your options with you.