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The Hidden Costs of Long-Term Care

October 26, 2018

At Liebmann & Van Straten Legal Group, LLC we are knowledgeable in Green Bay Elder Law.  As part of our Elder Law practice, it is important for us to keep tabs on important changes in the law that could affect our Elder Law clients in Green Bay, the Fox Valley and throughout Wisconsin.  In addition to changes in the law that relate to our Elder Law practice, academic institutions frequently release scientific studies related to senior citizens and their health that may affect our Elder Law clients.  It’s helpful to us, and to our clients, for us to stay informed, and pass this information on so that we can share our expertise in Wisconsin Elder Law with you as we receive it.  

 

How much does it cost to care for someone  outside of a Green Bay Nursing Home with Alzheimer’s disease?  According to a October 2018 HealthDay report  it can cost almost $100,000 per year.  A study conducted by the Journal of the American Geriatrics Society found that when a person has memory loss, and cannot be left alone for very long, the costs of paying someone for the shopping, cooking, cleaning and caring for those individuals increase tremendously.  The study attempted to factor in the costs to individual family members and informal caregivers.  While the average cost of a semi-private nursing home in 2017 was $85,775, the study found that informal care is nearly equal.  “As we move away from institutional care, it is important to remember the costs to the family and informal caregivers.  Care giving

 

involves significant costs, in line with the costs of a nursing home,” said Dr. Norma Coe, associate professor, medial ethics and health policy, University of Pennsylvania, Philadelphia. 

 

Cost is extremely important to our Green Bay Elder Law Clients (and all of our clients).  We believe there are two things to realize after reading the article.  First, keeping relatives out of a skilled nursing facility can cost a tremendous amount of money, even if the relative is not actually writing out a check.  Second, it may not be in the loved one’s best interest if the care being provided by the family member is not the care the loved one needs.

 

 Should you or a relative have any questions regarding the relationship between cost, nursing home costs and Elder Law in Green Bay and its surrounding Wisconsin communities, please do not hesitate to contact the Elder Law attorneys at Liebmann & Van Straten Legal Group, LLC. We can be reached at (920) 784-2900. Liebmann & Van Straten Legal Group, LLC prides itself on its expertise in Green Bay Elder Law, Long-Term Care Planning, wills, trusts, gifting, or the best way to allocate assets in an emergency.  Contact the trusted Green Bay Elder Law attorneys at Liebmann & Van Straten Legal Group, LLC.

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