Prince Law Firm
Call For A Consultation
Toll Free 866-383-1125
Local 248-419-1968

Planning for Alzheimer's Disease

Many Michiganders may have to face the consequences of Alzheimer's Disease. This risk increases with a person's family history. Regardless, this may be a good time to engage in long-term planning addressing the financing of the treatment and care of Alzheimer's.

Paying for long-term nursing care, medications and other expenses for a terminal illness should be considered. Savings may cover some of these costs. Nursing home services, which is usually needed for this disease, is costly. This care can cost almost $100,000 each year. Medicare does not pay for long-term residential assistance. Medicaid usually covers this expense, but at a very high price.

Unless covered by insurance, medications for treatment of this disease are also expensive. These drugs, according to Consumer Reports, can cost up to $400 each month, even if a patient is eligible for Medicaid or has private insurance.

Long-term insurance may pay for custodial costs. This care goes beyond necessary medical treatment and covers eating, getting out of bed, bathing and using the toilet. But, Medicare does not pay for these expenses under most circumstances.

The federal government may provide some veterans' benefits. Veterans and their eligible spouses may be eligible for certain in-home care service benefits depending on their length of service. Receiving Medicaid may also leave children and grandchildren without an inheritance. Medicaid, Supplemental Security Income and other benefits are based on a patient's income and assets.

Accordingly, an Alzheimer's patient cannot have income or assets above $2,000 in Michigan. Medicaid usually does not take effect until this level is met. Personal property, primary real estate, a car and some insurance and funeral plans are not part of the asset calculation. Options may be provided by an attorney that help deal with these issues. They can also draft legal documents that cover future health care issues.

No Comments

Leave a comment
Comment Information

How Can We Help You?

Bold labels are required.

Contact Information
disclaimer.

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.

close

Privacy Policy

Our Office

Prince Law Firm
800 W. Long Lake Road, Suite 200
Bloomfield Hills, MI 48302

Fax: 248-865-0640
Bloomfield Hills Law Office Map

Connect with us

  • Facebook
  • Twitter
  • Linkedin
VISA | Master Card | American Express | Discover Network